Emily Walker
The TRON blockchain is gaining traction in the cryptocurrency sector, experiencing a significant rise in network fees and transaction volumes.
Over the last year, the TRON network has shown consistent growth in several key areas, indicating a higher level of engagement and acceptance among major players in the digital asset industry.
Increase in Transaction Fees
Recent findings from CryptoQuant analysts reveal that TRON has achieved record-high fee revenues, along with an increase in the size of USDT transactions within the network.
According to crypto analyst Darkfost, TRON reached a landmark in October by exceeding $200 million in transaction fees, establishing its highest monthly revenue ever. This trend of growth continued into November, with fees accumulating to over $180 million.
For comparison, TRON recorded $32.6 million in transaction fees in November 2022, which increased to $102.3 million in November 2023. This shows a sevenfold growth over two years and nearly double the figures from the last year.
Darkfost noted that these statistics reveal a spike in on-chain activity, correlating strongly with the growing use of TRON’s cryptocurrency, TRX.
While complete data for December is still pending, initial signs suggest that network activity remains steady, despite some fluctuations in price.
Rising USDT Transaction Volume Indicates Institutional Interest
Alongside the growth in transaction fees, there’s a significant trend in TRON’s USDT market. Analyst Maartunn from CryptoQuant reports that the average size of USDT transactions on TRON has surged from $4,273 in June 2023 to $9,718 in December 2024.
This remarkable increase in average transaction size indicates that more substantial market players, such as institutional investors and affluent individuals, are becoming more engaged in the network ecosystem, as noted by Maartunn.
Moreover, the rising transaction size reflects greater confidence in the network’s dependability and might signal a shift in market dynamics.
The entry of institutional players often enhances liquidity, stability, and credibility within the blockchain ecosystem. As larger entities begin to navigate the network, it conveys trust in the platform’s capability to manage significant volumes efficiently and securely.
USDT Transfer Volume on TRON Increases: Bigger Players Join!
“Over the past 1.5 years, the average transaction size of USDT on the TRON Network has risen significantly, from $4,273 in June 2023 to $9,718 in December 2024.” – By @JA_Maartun
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— CryptoQuant.com (@cryptoquant_com) December 26, 2024
In light of TRON’s positive network developments, its native token TRX has also experienced a noticeable increase, rising by 4% over the past day to trade at $0.262 at the time of writing.
Featured image created with DALL-E, Chart from TradingView