07 Feb 2025 Morgan Hayze
TRON Adoption Continues Due To Stablecoin And Meme Coin Frenzy
Tron had a tremendous year last year, solidifying its place in the blockchain market. Throughout 2024, the network took advantage of significant industry movements to draw in new members and boost on-chain activity. The most recent research from Cointelegraph Research offers a thorough evaluation of Tron's development, highlighting the network's performance, strategic alliances, and ecosystem growth.
Even if the cryptocurrency industry had a difficult year in 2024, Tron compared to Bitcoin, Ethereum, and other popular altcoins, TRX had noticeably better price performance. It beat the larger altcoin market by 50% and Bitcoin by over 27%. At its peak, TRX's market value was $9.54 billion, setting a new all-time high of $0.426.In 2024, Tron's stablecoin activity surged. Their supply rose by 27%, mostly as a result of widespread USDT issuance.
Source: TradingView
The major blockchain for USDT usage is still Tron. With over 98% of the stablecoin supply on Tron, USDT is the dominant cryptocurrency. Currently, almost 30% of all network transactions are influenced by its use. Tron leads in USDT transfers and enables 61% of all such transactions across blockchains, despite Ethereum holding approximately 47% of the entire USDT supply and Tron only 43%.
Tron adoption is fueled by the memecoin frenzy
An important turning point for Tron's ecology was SunPump's launch. SunPump attracted a lot of community interest right away. Tron's proactive support of the ecosystem, including its $10 million meme ecology reward scheme, was a major factor in this accomplishment. More than 94,000 additional tokens were introduced as a result of the Tron memecoin mania.
Along with Pump.fun and Moonshot, SunPump became one of the top three most successful fair launch platforms. The emergence of high-market-cap meme coins on Tron and the quick uptake of trading tools that support Tron, including Telegram bots, attracted a sizable section of Pump.fun's audience shortly after its launch. SunPump even overtook Pump.fun in terms of the daily quantity of tokens produced during its peak.
In 2024, Tron demonstrated strong performance both economically and in on-chain activity.
This year, Tron has been constantly ranked among the leading public layer-1 blockchains by the number of active addresses and transactions. It trailed only Solana in daily active addresses and recorded a 20% year-over-year increase.
Moreover, Tron surpassed $2 billion in annual revenue, setting a new record. While the launch of SunPump caused a significant spike in revenue, stablecoin transfers remain the key reason for the high activity on Tron.
Tron has made notable progress in preventing illegal activities involving USDT. Since its inception in August, the T3 Financial Crime Unit has frozen or seized over 126 million USDT from malicious actors.Tron's development trajectory indicates that it will continue to grow within the Bitcoin ecosystem and incorporate artificial intelligence. Perhaps in response to the increasing popularity of AI agents, Justin Sun recently alluded to the creation of an AI-related service on Tron. This year, it is also anticipated that additional stablecoin usability enhancements, such as token-agnostic gas payments, will be released.
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