2024

DeFi

TRON

Billion

Spot

<ul>
 <li>A Messari report reveals that TRON defied the broader trends in the smart contract sector to record increased on-chain activity, with transactions peaking at 202 million in June.</li>
 <li>A separate report from CryptoRank revealed that TRON became the network with the second-highest total value locked (TVL) after Ethereum in Q2 with $8.2 billion.</li>
</ul>
After a smashing start to the year, the crypto industry recorded a slower second quarter, with most networks recording a dip in on-chain activity, active wallets, and other metrics. TRON stood out, defying these trends to record its best quarter yet, with value locked, active wallets, on-chain transactions, and several other metrics hitting new heights.
A new report by New York-based crypto market intelligence platform Messari revealed that the TRON ecosystem continued to grow in the three months ending June 31, with its USDT stablecoin volumes leading the charge.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 State of <a href="https://twitter.com/trondao?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@trondao</a> Q2'24 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e5.png" alt="🟥" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Key Update: USDT on TRON reached $57.1 billion in Q2, a new ATH.
 QoQ Metrics<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> • Transactions <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 29% • Active Addresses <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 31% • Stablecoins <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 9%
 Read the full report <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f517.png" alt="🔗" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/mJh8P4Hcfz" rel="noopener noreferrer nofollow">https://t.co/mJh8P4Hcfz</a> <a href="https://t.co/CQvHSLDpjD" rel="noopener noreferrer nofollow">pic.twitter.com/CQvHSLDpjD</a>
 — Messari (@MessariCrypto) <a href="https://twitter.com/MessariCrypto/status/1820541862387622084?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 5, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The ‘State of TRON Q2 2024’ report revealed that TRON ended the second quarter with a $10.9 billion market cap. While this was a slight improvement on the previous quarter, it was $4 billion higher year-on-year. It also marked the sixth consecutive quarter of gains for the token.
At press time, TRON’s market cap is at $10.936 billion, with the TRX token changing hands at $0.1257, gaining 1% in the past day.
<div class="cryptoboxes" id="mcw-435408" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="tron" data-symbol="TRX" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
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Away from the trading, TRON hit 6.3 million daily transactions on average in Q2, <a href="https://www.crypto-news-flash.com/tron-sees-29-increase-in-daily-transactions-in-q2-2024-trx-price-to-explode/" rel="noopener noreferrer nofollow">a 29% rise</a> from the previous quarter. The daily active addresses also surged by more than 30% to hit 2 million, their highest in a year. June was the network’s best month, hitting a record 202 million transactions.
<img fetchpriority="high" decoding="async" class="alignnone wp-image-784023 size-full" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1.webp" alt="" width="2142" height="1162" srcset="//www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1.webp 2142w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-300x163.webp 300w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-1200x651.webp 1200w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-768x417.webp 768w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-1536x833.webp 1536w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-2048x1111.webp 2048w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-150x81.webp 150w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/6c2402d15bbb4bad138b026fba2b03e1ab93d820-6400x3472-1-450x244.webp 450w" sizes="(max-width: 2142px) 100vw, 2142px">
Other metrics that saw a rise included the average daily new addresses, which hit 198,000, 11% higher than the previous quarter. The total amount staked hit 46.2 billion, worth $5.8 billion, its highest in a year.
Stablecoins and wallet transfers continued to dominate the network, accounting for upwards of 78% of all transactions in the second quarter. Messari revealed that, on average, 1.4 million addresses conducted a wallet transfer daily, while 630,000 conducted a stablecoin transfer.
Overall, the network’s stablecoin market cap shot up 9% to $58 billion, with Tether (USDT) accounting for 98% of the total. This makes TRON <a href="https://www.crypto-news-flash.com/tron-leads-blockchain-payments-with-usdt-dominating-transactions/" rel="noopener noreferrer nofollow">the home of USDT</a>, anchoring a 53% share of all the top stablecoin tokens in circulation, as we <a href="https://www.crypto-news-flash.com/tron-dao-dominates-with-78-of-usdt-transactions-in-2024/" rel="noopener noreferrer nofollow">reported</a>.
<h3 id="tron-clinches-second-spot-for-defi-tvl-at-8-2-billion">TRON Clinches Second Spot for DeFi TVL at $8.2 Billion</h3>
In a separate report, Crypto Rank revealed that DeFi has been booming on TRON. The report, <a href="https://cryptorank.io/insights/research/tron-h-1-2024" rel="noopener noreferrer nofollow">titled</a> ‘TRON H1 2024: From Stablecoins to Bitcoin and Beyond,’ offered an insight into the network’s performance in the first six months of the year.
Overall, the total value locked on TRON hit $22 billion in H1. This figure encompasses the value of crypto locked on the TRON chain and all the network DeFi protocols.
However, a much more objective approach focuses on the DeFi TVL, where TRON has made great strides. It’s not the second-largest network on this metric at $8.2 billion, ranking behind market leader Ethereum and nearly twice as high as third-placed Solana.
<img decoding="async" class="alignnone wp-image-784034 size-full" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240.png" alt="" width="1920" height="1161" srcset="//www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240.png 1920w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-300x181.png 300w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-1200x726.png 1200w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-768x464.png 768w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-1536x929.png 1536w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-150x91.png 150w, //www.crypto-news-flash.com/wp-content/uploads/2024/08/tron_111722871344240-450x272.png 450w" sizes="(max-width: 1920px) 100vw, 1920px">
JustLend remains the market leader by a country mile with $6 billion in TVL, four times higher than second-placed JustStables.

TRON (TRX) Sees Major Surge in Onchain Activity, Reports Messari and CryptoRank

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