- Total transferred USDT in TRC-20 was $22 billion, surpassing ETH’s ERC-20 USDT of $2.6 billion.
- TRON ranks first among L1 blockchains in terms of fees generated over the past six months.
A comparative analysis of TRC-20 and ERC-20 USDT clearly demonstrated TRON’s dominance in trading volume in 2021 and beyond. TRC-20 USDT transactions surged to 22 billion, dwarfing ERC-20’s 2.6 billion.
This trend coincided with TRC-20 showing peaks well above those of its Ethereum counterpart.
The rapid surge in TRC-20 activity, especially noticeable in mid-2024, highlights TRON’s advantages in terms of low fees and fast processing times, attracting more users and exchanges for stablecoin trading.
Source: CryptoQuant
A notable increase in TRC-20 transactions during September, with ERC-20 transactions almost doubling, highlights our efficiency and growing user base.
This strong performance of TRON supports its leading role in the stablecoin sector, highlighting its continued preference among digital asset operators.
TRON Fee Revenue and TVL
Additionally, TRON’s fees generated over the past six months reached $1.36 billion, once again establishing itself as one of the best layer 1 blockchains, ahead of Ethereum.
The increase in USDT trading on TRON has been steady, with the trading volume of TRC-20 USDT far exceeding that of ERC-20. This is despite Token Terminal’s high average fee of $1.2, as mentioned by X.
This trend suggests TRON’s increasing dominance in stablecoin transactions, favored for its faster processing times and security.
Source: Token Terminal
This surge in transactions is associated with a notable increase in TRON’s daily active accounts. The same figure has now surpassed 2.62 million, with an average of 174,000 new accounts being created per day.
This brought TRON’s total TVL (value locked) to exceed $23.4 billion, demonstrating its expanding influence and user trust.
TRON’s increasing activity, combined with its efficient transaction processing capabilities, points to a potential upward trend for TRON, strengthening its position in the blockchain ecosystem.
This could impact the continued rise in market value given the strong usage and trust shown by the cryptocurrency community.
AI integration and price prediction
In other news, TRON’s AI developments could further fuel investor interest and speculative trading, potentially pushing the price higher in the medium term. This is a presentation by Justin Sun at X.
“Some groundbreaking AI will be developed on Tron, steemit. Please stay tuned.”
Looking at TRX’s price movement during the week, we see a spike to $0.30 followed by a narrowing of the fair value gap around $0.24. This level acts as a support and pivot point for potential future price direction.
Source: Trading View
At the time of writing, MACD was positive, suggesting momentum could continue to rise, while RSI was near 70, suggesting TRX was approaching overbought territory. This hinted at a possible consolidation or decline on the charts.
Going forward, the price may retest the $0.30 high and, if support at $0.24 fails, it may fall towards lower support levels.