An in-depth analysis comparing TRC-20 and ERC-20 USDT has clearly demonstrated TRON’s supremacy in transaction volume since the start of 2021. In this period, TRC-20 USDT transactions experienced a significant surge, reaching 22 billion, a stark comparison to ERC-20’s 2.6 billion.
This trend has been consistent, with TRC-20 consistently outperforming its Ethereum counterpart in transaction peaks.
The notable spikes in TRC-20 activity, particularly evident in mid-2024, underscore TRON’s advantage in terms of lower fees and quicker transaction processing times, making it an attractive choice for users and exchanges engaging in stablecoin transactions.
The substantial surge in TRC-20 transactions in September, nearly doubling that of ERC-20, highlights the platform’s efficiency and expanding user base.
This strong performance by TRON reinforces its leading position in the stablecoin realm, emphasizing a sustained preference among operators of digital assets.
TRON Fee Earnings and Total Value Locked (TVL)
Moreover, TRON’s fee revenue over the past six months totaled $1.36 billion, positioning it as one of the top Layer 1 blockchains, once again surpassing Ethereum.
The growth in USDT transactions on TRON has remained robust, with TRC-20 USDT transactions significantly outpacing those of ERC-20, despite the relatively high average fees of $1.2, as highlighted by Token Terminal on X.
This trend signals TRON’s increasing dominance in stablecoin transactions, favored for its enhanced processing speed and security features.
This surge in transactions aligns with a remarkable increase in daily active accounts on TRON, with the figures now exceeding 2.62 million, and an average of 174,000 new accounts being created daily.
These developments have propelled TRON’s Total Value Locked (TVL) to surpass $23.4 billion, illustrating its expanding influence and the growing trust of its user base.
The escalating activity on TRON, along with its efficient transaction processing capabilities, indicates a potential upward trend for the platform, solidifying its reputation within the blockchain ecosystem.
This could potentially lead to a sustained increase in its market value, reflecting the robust usage and trust demonstrated by the cryptocurrency community.
Integration of Artificial Intelligence (AI) and Price Projections
On another front, the integration of AI technology into TRON could spark additional investor interest and speculative trading, potentially driving the token’s price higher in the medium term. This announcement was made by Justin Sun on X,
“Exciting developments in AI are set to take place on Tron and steemit. Stay tuned.”
An analysis of TRX’s price movements on a weekly basis revealed a spike to $0.30, followed by a pullback to an equilibrium level around $0.24. This level functions as both a support zone and a pivotal point indicating potential future price movements.
At the time of writing, the Moving Average Convergence Divergence (MACD) indicator was positive, suggesting a potential continuation of the upward momentum, while the Relative Strength Index (RSI) approaching 70 indicated TRX was nearing overbought conditions. This could hint at a period of consolidation or a pullback on the price charts.
Looking ahead, the price of TRX may retest the $0.30 peak, or in case the support at $0.24 is breached, could retreat to lower support levels.