Tron is quietly—but quickly—cementing its place as a leader in the stablecoin market, giving Ethereum a run for its money.
In July alone, Tron’s adjusted transfer volume in USDT soared to $384 billion, underscoring its growing dominance.
According to Coin Metrics Network, Tron now holds $61.1 billion in stablecoins, claiming 37.9% of the total market, which stands at $161.1 billion.
A year ago, Tron’s share was $46.6 billion, signaling a robust uptick.
While Ethereum still leads with a hefty $89.7 billion in stablecoins, representing 55.7% of the market, Tron’s momentum can’t be ignored.
Its transfer volume jumped 5.1% over the past month and a staggering 158% since the start of the year, hitting $58.75 billion.
By contrast, Ethereum and BNB Chain saw increases of 103% and 46.5%, respectively, during the same period.
Meanwhile, Solana witnessed a steep 75% decline in transfer volume.
On August 15, Tron’s daily stablecoin transfer volume hit $17.4 billion—more than double Solana’s $6.4 billion and BNB Chain’s $1.6 billion.
This figure also marks a 222% spike from the $5.4 billion transferred on the same day in 2024.
Tron’s DeFi ecosystem is also on the rise, with its total value locked (TVL) reaching an all-time high of $10.55 billion on March 14, 2024.
TVL has grown by 12% since August 5, now standing at $7.617 billion, according to DefiLlama.
The network’s on-chain revenues have surged as well, with daily revenue climbing 27% year-over-year to $1.5 million as of August 16.
Tron-based decentralized applications have seen explosive growth, with daily volume increasing by over 672%, from $4.61 million to $35.57 million.
This growth is not just a tech story; it’s becoming a business success that’s capturing the attention of investors.
And it’s not just the network’s metrics that are up—Tron’s native token, TRX, has surged over 80% in the last 12 months, trading at $0.133 at the time of publication.
Although still 55% shy of its January 2018 peak of $0.30, TRX is clearly riding a wave of renewed investor interest.
Tron’s rise in the blockchain space symbolizes a broader shift in the market landscape, one where established giants are being challenged by nimble, fast-growing networks.
Whether this momentum will continue remains to be seen, but one thing is clear: Tron is not just keeping pace; it’s setting it.
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