In a significant development for the blockchain industry, leading crypto media research arm Cointelegraph and prominent crypto research platform CryptoQuant have published comprehensive reports on the TRON network, emphasizing its stability, scalability, and growing adoption. The combined insights from these reports underline TRON's position as a leading blockchain network, particularly for everyday transactions.
Cointelegraph's report delves into the TRON ecosystem, revealing a robust and stable demand for its services. Unlike other blockchains driven by speculative trends, TRON's activity is anchored by consistent demand, ensuring reliable protocol revenues. The report also notes that the demand for USDT and other token transfers on TRON remains inelastic, maintaining stability irrespective of market sentiment. This stability is further evidenced by the strong growth in active addresses, with TRON surpassing all competitors by boasting over 2 million daily active wallet addresses.
Additional findings from Cointelegraph's research show that TRON has replaced the BNB Chain as the second-highest Layer 1 (L1) blockchain in terms of Total Value Locked (TVL), according to data from DefiLlama. By June 2024, TRON had become the second-largest blockchain for stablecoin transfer activity. Notably, TRON experienced a 15% increase in market cap in the first quarter, alongside record revenues of $128.1 million, positioning it among the top revenue-generating blockchain networks.
CryptoQuant's research complements these findings by analyzing TRON's technical strengths and user demographics. The report highlights TRON's high scalability and transaction speed, capable of processing up to 2,000 transactions per second (TPS), compared to Ethereum's 119 TPS. This efficiency is attributed to TRON's Delegated Proof of Stake (DPoS) mechanism and its integration with BitTorrent for distributed storage, which allows it to handle large-scale applications and high-traffic environments without relying heavily on external scaling solutions.
CryptoQuant's analysis also reveals that most USDT holders on TRON are retail or small holders, with over 52.6 million small holders responsible for 28% of USDT transactions on the network as of July 2024. This retail dominance underscores TRON's practicality and cost-effectiveness for fast, frequent, low-value transactions such as remittances, micropayments, and peer-to-peer transfers.
The combined research from Cointelegraph and CryptoQuant paints a picture of a blockchain network that excels in both large and small transactions, with a particular strength in serving retail users. TRON's continuous rise in network activity, coupled with its stable demand and high transaction speeds, enhances liquidity and overall network health. These attributes make TRON a preferred choice for various types of digital asset transactions, further solidifying its role in advancing the practical use of blockchain technology.
For those interested in a deeper dive into these findings, the full research reports are available from Cointelegraph and CryptoQuant.
