Tron Network Sees Record Activity Amid Rising Retail Adoption

According to Cointelegraph, the Tron network is experiencing unprecedented levels of activity, with blockchain data indicating a surge in transactions and active addresses. On Tuesday, the number of daily active addresses on Tron reached a record 5.7 million, surpassing the previous day's record of 5.4 million. Additionally, over 12.6 million transactions were recorded, marking the highest daily transaction count since June 2023, as reported by TRONSCAN. Blockchain analytics platform Nansen highlighted the significant increase in activity, noting a 69% rise in daily active Tron addresses over the past week, reaching nearly 11.1 million. This growth represents the largest week-on-week change among major blockchains. Despite Tron’s decentralized finance ecosystem not being as prominent as Ethereum’s, it facilitates between 15-20 million Tether (USDT) stablecoin transfers weekly, making it a popular choice for token and chain payments in the crypto space. Tron’s network is widely utilized in regions such as Africa, Asia, and South America, where high-speed, low-cost US dollar-pegged token transfers offer significant benefits. This is particularly advantageous in areas where access to real US dollars is limited. Tether recently celebrated its 500 millionth USDT user on October 21, with CEO Paolo Ardoino describing it as a major milestone in financial inclusion. The World Bank Group estimates that approximately 1.4 billion adults globally lack access to a bank account, highlighting the potential of cryptocurrencies to address this issue. With a smartphone, individuals can download a crypto wallet to receive and store funds securely, offering a viable solution to financial exclusion. USDT remains the largest stablecoin, boasting a market cap of $183.2 billion and a 58.8% market share, according to CoinGecko. Circle’s USDC follows with a market cap of $76.2 billion. Ethereum hosts the majority of USDT in circulation, totaling $83.4 billion, while Tron ranks second with $78.7 million, as per DefiLlama data.