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- TRON processes an average of 6.75 million transactions daily, showcasing its growing network activity.
- TRON burned over 11 million TRX in July, emphasizing its commitment to deflation and value growth.
A longstanding participant in the crypto scene, Tron (TRX) has attracted notable interest by ranking among the top five gainers in the large-cap crypto market. This success ranks Tron above numerous other blockchain coins, including Ethereum and Cardano.
TRON’s 2024 Transaction Surge Highlights Network’s Growing Popularity
Recent IntoTheBlock data points help to explain this noteworthy performance. The quantity of transactions on the TRON DAO network has demonstrated a continuous increasing trend starting in 2024. With an average daily transaction count of 6.75 million, the network clearly shows increasing use and popularity.
Meanwhile, TRX’s price at the time of writing is at $0.1342, a 3.14% rise over the last 24 hours. TRX’s daily trading volume of about $301.91 million highlights even more its active market presence. Given that both Bitcoin (BTC) and Ethereum (ETH) have seen drops over the same period, this recovery seems to be noticeably stronger than that of the other main cryptocurrencies.
The Tron Community also just revealed that on July 9, 11,015,060 TRX would be burned. A net negative production ratio of -5,947,669 demonstrates Tron’s commitment to deflation and value growth; consequently, this action emphasizes this.
#TRON just burned 11,015,060 #TRX on July 9th 🔥 showcasing a commitment to deflation & value growth 🚀 With a net negative production ratio of -5,947,669 🤯 pic.twitter.com/LjSf95F1Lj
— TRON Community (@TronixTrx) July 11, 2024
Also, after burning almost 11 million TRX earlier this month, TRON led the stablecoin transaction market with a 97.62% market share.
Moreover, CNF reported that, up from the start of the year, there are around 2.5 million active Tron addresses. This rise shows notable acceptance and expansion in network activity, therefore reflecting a strong and growing user base.
TRON has also teamed with BTFS to create new routes in data security via DePIN integration in an attempt to expand its influence. This cooperation seeks to improve data security protocols and confirm TRON’s leadership as a top blockchain network.
