TRON’s Influence Expands as User Addresses Near 2.5 Million Holders

By Aaron Feuerstein June 27, 2024 In Blockchain, Toncoin, TRON
  • Despite market declines, TON and TRON alone record gains among major blockchains.
  • TRON (TRX) sees an increase in value and usage, now holding an 8% TVL market share.
  • TRON consistently attracts new users, nearing 2.5 million daily addresses according to data.

Amid a sea of red, TON and TRON are the only top blockchains that have made gains, albeit small ones. TRON (TRX), launched by Justin Sun in 2017 is the 11th largest blockchain by market cap and should not be confused with the similar sounding TON (The Open Network).

TON was developed by Telegram’s Durov brothers and rebranded after regulatory issues. TON has seen a recent surge in adoption, based on millions of Telegram users.

Related: DDOS Attack on Cardano Network Backfires, Ending in Hacker Humiliation

TRON Consistently Adds New Addresses

TRON on the other hand, also sees steady growth, as data from IntoTheBlock shows. They report that the daily address count is approaching 2.5 million, outpacing other layer-1 networks.


Data from DefiLlama shows that TRON now commands an 8% market share of total value locked (TVL). While Ethereum remains the biggest chain by TVL with a 61% market share, TRON’s US$7.6bn (AU$11.4bn) TVL is nothing to scoff at.

Total Value Locked of all chains, source: DeFiLlama

Binance’s BSC, Solana and Arbitrum are ranked behind TRON, far lagging in both TVL and user addresses.

Despite the overall market dip, TRX’s price has seen a 6% increase over the past week. Currently one TRX trades hands for US$0.1229 (AU$0.1804).

TRON (TRX), 7-day graph, source: CoinMarketCap

TRON employs a Delegated Proof of Stake (DPoS) consensus mechanism for high scalability and transaction throughput, supporting smart contracts and dApps like Ethereum, with speeds up to 2,000 transactions per second.

TRON’s price action pushed it past Shiba Inu (SHIB) on the ladder of market cap leaders. TRX now occupies rank 11, sending SHIB to 12th place, just ahead of Avalanche (AVAX).

Uquidcard CEO Praises TRON Network Strength

Tran Hung, CEO of web3 shopping infrastructure provider Uquid said that the preference for USDT-TRC20 at Uquid Shop is driven by the low transaction fees of the Tron network, making it a cost-effective choice for users.

USDT-TRC20 is Tether’s USDT stablecoin, which is issued on TRON; it’s also known as USDT-TRON. 

Hung said the efficiency not only saves money but also enhances the user experience, positioning cryptocurrency as a more attractive payment option compared to traditional methods.

Hung said USDT-TRC20 is effectively reaching markets with underdeveloped financial infrastructure, providing a reliable alternative for transactions.

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Additionally, its increasing use for mobile recharges shows growing trust and comfort with digital currencies.

Finally, adoption of USDT-TRC20 for everyday transactions like mobile recharges can stimulate economic activity and support local economies while encouraging further technological integration and innovation, Hung added.

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Aaron Feuerstein

Aaron Feuerstein

Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.

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