The TRON blockchain has recently experienced a surge in usage metrics. According to data from Token Terminal, TRON recorded 225 million monthly transactions, $220 million in monthly fees, and 14.1 million active users in the past month.
The report revealed that Tether (USDT) and SunPump have become key applications on the blockchain, serving as the primary drivers of this growth.
TRON’s USDT Transfers Surge as SunPump’s Meme Coin Craze Gains Momentum
Token Terminal data reveals that TRON processed 59.9 million USDT transfers over the last 30 days. During the reporting period, the USDT supply reached $61.8 billion, with 8.3 million monthly senders engaging in transactions.
Meanwhile, SunPump boasts around 10,300 daily active addresses and uses approximately $416,000 in gas fees over the same period.
Read more: What Is TRON (TRX) and How Does It Work?
Key Usage Metrics on TRON Blockchain. Source: X/TokenTerminalLaunched in mid-August, SunPump allows users to create meme coins quickly on the TRON blockchain. The platform’s fee structure includes a 20 TRX coin creation charge and a 1% trading fee. Such a mechanism has incentivized users to engage with it.
Although many market experts see a decline in overall interest in meme coins, SunPump has managed to keep momentum within the TRON ecosystem. BeInCrypto reported in early September that projects like Sundog (SUNDOG) have seen a 10% increase in value. This rise was helped by TRON founder Justin Sun’s public endorsement of meme coins within the network.
TRON’s native token, TRX, has also experienced impressive growth. Token Terminal reported that over the past two years, TRX’s market capitalization has more than doubled.
TRX Market Capitalization. Source: X/TokenTerminalTRON’s latest milestone builds on the momentum from Q2 2024, when the blockchain saw a 29% increase in daily transactions, according to a report by Messari. TRON’s infrastructure—supported by its Proof-of-Stake mechanism and TRON Virtual Machine (TVM)—has played a key role in this growth. The efficient technology has enabled TRON to handle millions of transactions daily, attracting more developers and users to the ecosystem.
However, TRON has also faced challenges amid its strong growth. Messari’s Q2 report revealed that despite the rise in transactions and stablecoin activity, TRON’s total value locked (TVL) dropped by 23%, from $10.1 billion to $7.8 billion quarter-over-quarter. This decline suggests that TRON may still face obstacles in fully capturing the DeFi market.
Looking ahead, Sun has ambitious plans to continue expanding the blockchain’s capabilities. Among his key initiatives are further gas fee reductions and an increase in TRON’s energy cap to 120 billion, which have already eased transaction costs and energy shortages.
Additionally, Sun has hinted at using all NFT trading fees to buy back and burn tokens. This move is designed to create deflationary pressure and drive further value in the ecosystem.
“TRON needs a native, truly high-quality NFT project. To be honest, if such a project comes to life, I would change my PFP to one from that project,” Sun stated.
Read more: TRON (TRX) Price Prediction 2024/2025/2030
With these upcoming developments, TRON aims to build on its recent successes and establish itself as a dominant player in the blockchain space.
