TRON have been increasingly influential among altcoin ecosystems, re-establishing itself as the top blockchain in transaction volume relative to other prominent altcoin chains.
A CryptoQuant Analyst known as ‘Maartuun’ reported that recently, most TRON conducted transactions, accounting for approximately 43% of transactions made across large altcoin blockchains as of October 30.
TRON now leads in the transaction processing and this trend seems to have started in October with no other major altcoin members able to displace it from the number one position making it even more important in the present day crypto landscape.
Understanding Why TRON Has The Highest Transaction Volume
According to data provided by maartuun, the month of October witnessed an increase in TRON processed transactions, 230 million pieces. On October 24, the network reached the highest point, reaching 10.46 million transactions and exceeding its 30-day average by about 25% as that figure stood at ten million.
TRON’s transaction activity during what appears to be a downturn in 2024 where it was regularly a leader in the transaction volume. However, the early period of activity may have witnessed TRON active transactions in lead till late August with some portions extending to early October.
TRON’s dominance in the past may suggest that the asset is back on top and still brownie points that have consistently been “highly” for altcoin transactions.
The observations of the CryptoQuant analyst indicate that TRON’s dominance in terms of transaction volume is likely to continue. This observation is backed by the past record because TRON has been recording substantial transaction volumes for many prolonged periods.
However, it should be emphasized that the share of transaction volumes of the networks to date shows that there is a shift within the blockchain sector to networks that possess scalability and low fees which are critical in maintaining a high turnover of transactions.
TRON’s capability to process a high number of transactions each day differentiates it from most other altcoin platforms subsequently enhancing its attractiveness and facilitating its use in different blockchain-based applications and projects.
TRON Market Performance
There are signs that TRON is performing well in terms of its on-chain fundamentals’ metrics. It can likewise be said that movements of the price of the TRX – TRON’S native token TRONXO has seen positive movements recently.
This is especially true after the general price rally in the cryptocurrency ecosystem after the Bitcoin-led rally. TRX has gained a 5.6% increase in the last two weeks and a 3.1% rise in the last week which is indicative of active bullish movements.