- USDT on TRC-20 total transfers reached 22 billion, surpassing ETH’s ERC-20 USDT of 2.6 billion.
- TRON was ranked top among L1 blockchains by fees generated in the last six months
A comparative analysis of TRC-20 and ERC-20 USDT clearly showed TRON’s dominance in transaction volume since 2021. TRC-20 USDT transactions increased to reach 22 billion, while ERC-20’s 2.6 billion decreased.
This trend was consistent with TRC-20 showing peaks that far exceeded those of its Ethereum counterpart.
Significant spikes in TRC-20 activity, particularly noticeable in mid-2024, emphasize TRON’s advantage in terms of lower fees and faster processing times, attracting more users and exchanges for stablecoin transactions.
Source: CryptoQuant
The marked increase in TRC-20 transactions in September, almost doubling those of ERC-20, highlighted its efficiency and growing user base.
This robust performance by TRON supported its leading role in the stablecoin sector, underscoring an enduring preference among digital asset operators.
TRON fee income and TVL
Additionally, TRON’s fees generated in the past six months totaled $1.36 billion, ranking it among the top Layer 1 blockchains ahead of Ethereum once again.
The growth of USDT transactions on TRON has continued strongly, with the transaction volume of TRC-20 USDT far surpassing that of ERC-20. This, despite the high average fees of $1.2, as Token Terminal noted on X.
This trend alluded to TRON’s increasing dominance in stablecoin transactions, favored for its faster processing times and security.
Source: Token Terminal
This increase in transactions correlated with a notable increase in daily active accounts on TRON. Figures for the same have now crossed 2.62 million, with an average of 174,000 new accounts daily.
These pushed TRON’s total value locked (TVL) to exceed $23.4 billion, demonstrating its growing influence and user confidence.
The escalating activity on TRON, along with its efficient transaction management capabilities, pointed to a potential upward trend for TRON, strengthening its status in the blockchain ecosystem.
This could likely affect a lasting increase in its market valuation, given the robust usage and trust shown by the crypto community.
AI integration and price prediction
In other news, AI development on TRON could catalyze further investor interest and speculative trading, potentially driving the price higher in the medium term. The announcement was made by Justin Sun on X,
“Some cutting-edge AI will be developed on Tron and steemit. Stay tuned.”
Looking at TRX’s price action on the weekly time frame showed a peak at $0.30, followed by a pullback to a real value gap around $0.24. This level acts as both a support and a pivot point for potential future price directions.
Source: Trading View
At the time of writing, the MACD was positive, indicating that momentum could continue to the upside, while the RSI near 70 indicated that TRX was approaching overbought territory. This suggested a possible consolidation or a decline in the charts.
Going forward, the price could retest the $0.30 top or, if the $0.24 support fails, fall back to lower support levels.
