The TRON network has recently experienced a surge in activity, driven by the minting of $1 billion in USDT, bringing TRON’s total USDT supply to roughly $62.8 billion from a previous $48.8 billion.
This latest influx highlights TRON’s growing influence as a leading platform for stablecoin transactions.
New $1.0B USDT minted on TRON Network
“The total supply of USDT on #TRON has risen from approximately $48.8 billion to around $62.8 billion.” – By @JA_Maartun
Read more 👇https://t.co/OBzgzOqgs9 pic.twitter.com/hAgu9fNh8M
— CryptoQuant.com (@cryptoquant_com) November 2, 2024
Over the past week, TRON has dominated the altcoin blockchain space, accounting for 43% of transactions across major altchains as of October 30th.
This uptick is reflected in the network’s overall transaction volumes, which spiked significantly in October. Notably, on October 24th, TRON processed 10.46 million transactions, marking a 25% increase above the monthly average and setting a record for October’s activity.
TRON Transaction Dominance (%) Rises to 43%
"The #TRON Network is regaining popularity, as seen in its share of total transactions across major altcoin blockchains, shown in red (🔴).
Over recent days, $TRON has been the leading alt-chain for transaction processing.
On… pic.twitter.com/Ugdk4L6XO8
— CryptoQuant.com (@cryptoquant_com) November 1, 2024
TRON Has Processed Over 230 Million Transactions In October Alone
In total, TRON processed 230 million transactions in October alone, affirming its status as the preferred network for high-volume transaction processing among altcoins. This trend of dominance in transaction volume has recurred throughout 2024.
However, from August 25th to October 5th, TRON saw a brief dip as other networks experienced a rise in activity. Since then, TRON has quickly reclaimed its position, returning to the top of alt-chain transaction rankings.
The resurgence in TRON’s transaction dominance suggests it could maintain its position as the most popular network for altcoin transactions, following a pattern observed earlier this year.
As TRON continues to draw attention and use cases, particularly in stablecoin transactions, its transaction volume dominance signals strong user confidence and network stability going forward.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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