Ethereum

Based

DeFi

TRON

BitTorrent

<p><strong>Based on blockchain wallet data, TRON (TRX) grew its accounts to more than 231 million. The growth of TRX users reflects the bull market trends and the new expansion of TRON-based decentralized finance. Recently, TRON also surpassed Ethereum (ETH) on fees, an indicator of growing activity.</strong></p>
<p>TRON gained importance as the carrier of more than 50% of the Tether (USDT) supply. The initial design of the blockchain also included the ability to carry high traffic.&nbsp;</p>
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   <p lang="en" dir="ltr">🎉🎉🎉Congratulations!!! <a href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRON</a>’s total accounts have reached 231,377,204, exceeding 231 million! <a href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRON</a> ecosystem has developed rapidly and continues to make efforts to decentralize the web.<br><br> 🥰Appreciation to all <a href="https://twitter.com/hashtag/TRONICS?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRONICS</a>! <a href="https://t.co/0dDATu0q1i" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/0dDATu0q1i</a></p>— TRONSCAN (@TRONSCAN_ORG) <a href="https://twitter.com/TRONSCAN_ORG/status/1793120910364520831?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 22, 2024</a>
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<p>Some TRON activity may be bot-driven, but there are other indicators of real-use cases and the network’s value. TRON is also the only network to grow its DeFi TVL gradually instead of going through a boom and bust. One reason is that TRON was a separate ecosystem, shielded from the fallout of early DeFi hype.&nbsp;</p>
<h2 class="wp-block-heading" id="tron-activity-financials-flow-into-defi">TRON Activity, Financials Flow into DeFi</h2>
<p>In 2024, DeFi on TRON charted an all-time high in March, and TVL is approaching peak levels again.</p>
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<p>The growth of DeFi also expands the influence of TRON, which is now focused on centralized exchanges. TRON-based USDT is 56.64B tokens out of 111.4B total tokens, and is more widely used in centralized markets than Solana-based USDT and other versions.</p>
<h2 class="wp-block-heading" id="tron-weekly-fees-surpass-ethereum">TRON Weekly Fees Surpass Ethereum</h2>
<p>The TRON network picked up the pace in May, expanding the daily transaction count to 5.5M. The activity translated into fees of $4.4M per day, which surpassed the weekly average for Ethereum. The current network fees and transactions come from the 2.6M daily active accounts on TRON. Ethereum<a href="https://etherscan.io/chart/active-address" rel="noopener noreferrer nofollow" target="_blank"> daily active users</a> are just under 500K.</p>
<p>TRON expanded its daily users even during market corrections and remains strong after the late March peak.&nbsp;</p>
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   <p lang="en" dir="ltr">Some <a href="https://twitter.com/hashtag/blockchains?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#blockchains</a> grew during the bull market correction. <br>👉In aggregate the top chains Daily Active Users expanded by 10% during the pullback<br>👉<a href="https://twitter.com/hashtag/Sui?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Sui</a> leads with a 1353% MoM increase<br>👉<a href="https://twitter.com/hashtag/Arbitrum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Arbitrum</a> is up 163%! <br>👉<a href="https://twitter.com/hashtag/Tron?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Tron</a> also strong<br>👉 <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Solana</a> and <a href="https://twitter.com/hashtag/Near?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Near</a> flat<br><br>Some Networks contracted… <a href="https://t.co/kfkgZd4pvN" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/kfkgZd4pvN</a></p>— Jamie Coutts CMT (@Jamie1Coutts) <a href="https://twitter.com/Jamie1Coutts/status/1793457483794784441?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 23, 2024</a>
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<p><a href="https://cryptofees.info/" rel="noopener noreferrer nofollow" target="_blank">ETH fees</a> remain between $4.3 and $6.2M per day, and is a close competitor to TRON, especially on days with high fees. However, TRON is the only alternative that seems to compete with Ethereum’s ecosystem on multiple counts.</p>
<p class="has-text-align-center">Also read: <a href="https://www.cryptopolitan.com/tron-price-prediction/" rel="noopener noreferrer nofollow">Tron Price Prediction 2024–2030: Will Tron Reach $10?</a></p>
<p>The bull market has also affected TRON fees in recent months. While the fees are generally much lower, there are days when network load means paying as much as $3 per transaction. TRON revenues were under $2M daily in February, more than doubling since then.&nbsp;</p>
<p>For TRON users, it is already necessary to use fee optimization services or energy renting to limit unexpected payments. This is especially true of microtransactions for gaming or using DeFi or NFT.</p>
<h2 class="wp-block-heading" id="tron-continues-with-token-burns">TRON Continues with Token Burns</h2>
<p>The TRON network entered its “deflationary era” from 2021 onward. Although TRX has a very large supply, burns are happening regularly to offset new token creation and usage. The token burns also reflect the network’s fees, sparking hopes of better performance for the TRX market price.&nbsp;</p>
<p>After the latest burn, the TRON network shrank the supply by a net 6.4M tokens.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRON</a> just burned 11,464,148 <a href="https://twitter.com/hashtag/TRX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRX</a> on May 21st 🔥 showcasing a commitment to deflation &amp; value growth 🚀 With a net negative production ratio of -6,399,397 🤯 <a href="https://t.co/Rs0A1m2shn" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/Rs0A1m2shn</a></p>— TRON Community (@TronixTrx) <a href="https://twitter.com/TronixTrx/status/1793202074739470813?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 22, 2024</a>
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<p>The latest burn follows a few smaller events, destroying a net of 6M tokens. With growing activity and peaking fees, burns will only accelerate.&nbsp;</p>
<h2 class="wp-block-heading" id="google-cloud-joins-to-secure-tron-network">Google Cloud Joins to Secure TRON Network</h2>
<p>TRON’s network will join Google Cloud, one of the biggest data service providers. Google Cloud has also applied for a slot to become a Super Representative and serve to secure the TRON consensus.</p>
<p>As a Super Representative, Google Cloud will also receive TRX rewards for block production and security.&nbsp;</p>
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   <p lang="en" dir="ltr">.<a href="https://twitter.com/googlecloud?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@GoogleCloud</a> joins as a Super Representative candidate on the <a href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#TRON</a> blockchain. Their role? Producing blocks and packing transactions to ensure robust governance. 🧵 <a href="https://t.co/0T3hZO0luu" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/0T3hZO0luu</a></p>— TRON DAO (@trondao) <a href="https://twitter.com/trondao/status/1790421508961235329?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 14, 2024</a>
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<p>However, Google Cloud does not have the role guaranteed and is still a Super Representative Candidate. There are a total of 413 accepted Super Representatives on the TRON network and a long list of candidates.</p>
<h2 class="wp-block-heading" id="bittorrent-btt-boosts-tron-network-activity">BitTorrent (BTT) Boosts TRON Network Activity</h2>
<p>TRON’s activity has increased partly due to its affiliated token, BitTorrent (BTT), which was launched in 2018 after acquiring the web torrent service. Until recently a forgotten asset, BTT is seen as having the potential to rally and erase a zero.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTT</a> is flexing its muscles in the crypto market. When it starts its upward journey, it's aiming to shed a zero from its price tag. But if it loses momentum, look for support around $0.000001. Keep an eye on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a> too!<br>Before, we've recorded a 470% profit in the last rally. <a href="https://t.co/kjggJa0Wdl" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/kjggJa0Wdl</a></p>— Decilizer (@decilizer) <a href="https://twitter.com/decilizer/status/1793156923866702159?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 22, 2024</a>
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<p>BTT rose from its lows and is now at $0.0000012, around 50% down from its initial all-time high.&nbsp;</p>
<p>BTT and TRX took nearly a year to recover from controversy, including a lawsuit against TRON’s founder. The lawsuit resulted in the shedding of regulated token USDC from the TRON network. Over time, TRON compensated with additional USDT inflows.</p>
<p><em>Cryptopolitan reporting by Hristina Vasileva</em></p>
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TRON (TRX) Locks In 231 Million Accounts, Surpasses Ethereum (ETH) Fees

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