Tron Surges Ahead: Now Commands Nearly 38% of the Stablecoin Market, with DeFi and Transaction Activity Reaching New Heights đ
The Tron blockchain has captured a significant portion of the stablecoin market, now holding a 37.9% share with a supply worth $61.1 billion, according to Coin Metrics Network. This marks a substantial increase from a year ago when Tron's stablecoin supply was valued at $46.6 billion. In comparison, Ethereum still dominates the stablecoin space, maintaining a commanding lead with $89.7 billion in supply, representing 55.7% of the market.
Tron's growth in stablecoin supply has been accompanied by a notable uptick in transaction activity on its blockchain. Over the past 30 days, transactions on the Tron network have increased by 5.1%, and an impressive 158% since the start of the year, reaching $58.75 billion. Meanwhile, the Ethereum and BNB Chain networks have also seen growth in transactions by 103% and 46.5%, respectively, since January. In contrast, stablecoin transfers on the Solana network have declined by 75% during the same period.
Tron has also experienced a surge in DeFi activity, pushing its total value locked (TVL) to an all-time high of $10.55 billion earlier this year. As of early August, the TVL stands at $7.617 billion. The network's daily revenue has seen a 27% increase since January, reaching $1.5 million as of August 16.
Additionally, Tron's native token, TRX, has seen significant appreciation, with its price rising 80% over the past year. Currently, TRX is trading at $0.133.
$TRX $ETH $BNB
