Tron Surges as Stablecoin Powerhouse: Leads Market Share with Explosive Growth in Transfers
Tron has rapidly climbed to become the second-largest blockchain after Ethereum in stablecoin market share.
According to Coin Metrics Network, Tron now holds $61.1 billion in stablecoin supply, capturing 37.9% of the $161.1 billion stablecoin market. This marks a substantial leap from $46.6 billion just a year ago.
While Ethereum still dominates with $89.7 billion in stablecoins (55.7% of the market), Tronâs growth is undeniable. In the past 30 days, Tronâs transfer volume has surged by 5.1% and skyrocketed 158% year-to-date, reaching $58.75 billion. Comparatively, Ethereum and BNB Chain saw year-to-date increases of 103% and 46.5%, while Solana experienced a sharp 75% decline.
On August 15 alone, Tronâs stablecoin transfer volume hit $17.4 billion, far outpacing Solanaâs $6.4 billion and BNB Chainâs $1.6 billion on the same day. This figure represents a staggering 222% increase from the same date in 2023.
Beyond stablecoin activity, Tron has seen a significant boost in decentralized finance (DeFi) engagement, with its total value locked (TVL) peaking at $10.55 billion on March 14, 2024, according to DefiLlama. This growth has been accompanied by a 27% increase in daily revenue, reaching $1.5 million on August 16, and a 672% surge in daily volume on Tron-based decentralized apps, jumping from $4.61 million to $35.57 million over the past year.
$TRX , Tronâs native token, has also seen impressive gains, climbing over 80% in the last 12 months to trade at $0.133, although it remains 55% below its January 2018 all-time high of $0.30.
For informational purposes only, not financial advice. Please conduct your own research before making any investment decisions.
