The Tron blockchain has established itself as a core stablecoin network, boasting fast speeds and low fees. However, allegations that founder Justin Sun holds a significant amount of Tron (TRX) are considered a risk that fuels skepticism about decentralization.
According to CoinMarketCap, a global virtual asset market monitoring site, TRX was trading at $0.3469 at 7:30 AM on the 7th, up 1.69% from the previous day. It ranked ninth among all virtual assets by market capitalization. TRX is the base currency of the Tron blockchain and is used for transaction fees and network operations.
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Raised $70 million through an ICO in 2017, with a total issuance of 100 billion coins.
Tron is a blockchain project founded in July 2017. Its initial coin offering (ICO) held that same year raised approximately $70 million (KRW 98.077 billion) by selling TRX at approximately $0.0019 per unit. The total issuance is 100 billion, issued all at once in the genesis block. While the total issuance is fixed, the actual market circulation varies depending on the new TRX issued as block rewards and the burning of transaction fees.
According to the white paper, TRX's distribution structure is as follows: 40% for the public sale, 35% for the Tron Foundation, 15% for the team and early supporters, and 10% for partner company Peiwo. Initially, it was traded as a token created on the Ethereum network, but with the launch of its own blockchain in 2018, it now operates on an independent network.
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Market cap up 17% in Q2, stablecoin transfer volume hits record high
According to the "Tron Q2 2025 Report" published by global virtual asset research firm Mesari, Tron's performance in Q2 was robust. TRX's market capitalization increased 17% quarter-over-quarter to $26.5 billion, and network fee revenue increased 20.5% to $915.9 million.
Tron's strengths lie in its speed and cost competitiveness. According to Mesari, Tron's average daily transactions reached 8.6 million in the second quarter of this year, a 12.6% increase from the previous quarter. The average daily active addresses also reached 2.5 million. Transaction fees are burned on the network, and as the amount burned exceeded the issuance reward during the second quarter, the total circulating supply decreased from 95 billion to 94.8 billion. Tron's low fees and fast processing speed make it ideal for small payments and frequent remittances.
Stablecoins, in particular, have driven Tron's growth. As of Q2, the market capitalization of Tron's stablecoins reached a record high of $80.9 billion. Tether (USDT) accounted for $80.3 billion, or 99.2% of the total supply. The average daily transaction volume reached $21.3 billion, an 11.6% increase from the previous quarter. More than half of the total USDT issuance is currently being operated on the Tron chain.
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Sun founder suspected of owning 60% of TRX… Controversy over centralization continues.
The controversy surrounding Tron founder Justin Sun continues. Recently, Bloomberg reported that he owns over 60% of all TRX. Sun has filed legal action, claiming the report is false and that Bloomberg breached its confidentiality obligations. The U.S. Federal Court in Delaware denied Sun's request for a preliminary injunction to prevent publication, but the main lawsuit is ongoing.
Tron continues to expand. However, its block production structure, with 27 Super Representatives (SRs), remains a source of controversy over centralization. Furthermore, allegations of founder Justin Sun's token holdings are being pointed out as a weakness in the network's identity, which emphasizes decentralization.
- Reporter Do Ye-ri
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