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Geneva, Switzerland – August 5, 2024 – Cointelegraph, a leading cryptocurrency research organization, and CryptoQuant, a leading cryptocurrency research organization, have published comprehensive research reports offering in-depth analyses of the TRON network. The reports highlight a continued increase in network activity and highlight TRON’s high transaction speeds, scalability, and cost-effectiveness, making it a preferred blockchain network for everyday transactions.
Search on Cointelegraph
Cointelegraph’s research provides an in-depth analysis of the TRON ecosystem and the blockchain’s key features. The report reveals that unlike other blockchains driven by incentive schemes and speculative tendencies, TRON’s network activity is anchored by robust and stable demand, creating a reliable source of protocol revenue. The study also highlights that demand for USDT and other token transfers on TRON is remarkably inelastic, maintaining stability regardless of market sentiment.
Highlights:
- The strong growth in active addresses is further evidence of organic adoption. TRON surpasses all its direct competitors with over 2 million active wallet addresses per day.
- According to data from DefiLlama, TRON has replaced the BNB chain as the L1 with the second highest TVL.
- As of June 2024, TRON is the second largest blockchain in terms of stablecoin transfer activity.
- A 15% increase in market capitalization was seen in the first quarter, alongside record Q1 revenue of $128.1 million, ranking it among the top revenue-generating blockchain networks.
Read Cointelegraph’s full research report here.
CryptoQuant Research
CryptoQuant’s research report offers an in-depth analysis of the TRON network, examining its fast transaction speeds and the activity of the TRC-20 USDT stablecoin. On-chain data reveals that most TRON holders are classified as small holders or small holders who use TRC-20 USDT for daily transactions.
Key analysis:
- TRON’s main advantages are its high scalability and transaction speed. The network is capable of processing up to 2,000 transactions per second (TPS), which is significantly higher than Ethereum’s 119 TPS (excluding Layer-2).
- TRON achieves high transaction speeds thanks to its efficient DPoS mechanism and integration with BitTorrent for distributed storage. Unlike other blockchains, it does not rely heavily on external scaling solutions, making TRON suitable for various types of transactions, even for large-scale applications and high-traffic environments.
- Most USDT holders on TRON can be classified as “small holders” or “individuals.” As of July 2024, over 52.6 million small holders were responsible for 28% of USDT transactions on the TRON network.
CryptoQuant’s report highlights that TRON excels at handling both large and small transaction sizes. However, it is particularly favored by retail users for fast, frequent, and low-value transactions such as remittances, micropayments, and peer-to-peer transfers. The high participation of retail users highlights the convenience and cost-effectiveness of TRON. With a steady increase in transaction volume and network activity, TRON improves liquidity and overall network health.
Read the full CryptoQuant report here.
The combined information from Cointelegraph and CryptoQuant highlights the strong activity of the TRON network and the stable demand for TRC-20 USDT. Together, these reports illustrate TRON’s leading role in advancing the practical use of digital assets, improving liquidity, and promoting the overall health of the blockchain ecosystem.
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