Tron Price Soars on Robust Ecosystem Performance
Tron's price has experienced a three-day surge, attributed to strong on-chain data indicating the health of its ecosystem.
On Friday, TRX reached a monthly high of $0.1185, recording a 7.65% increase from its recent low. This outperformance contrasts with the declines in other altcoins, including Ether, Solana, and Pepe.
Tether Surge on Tron
According to TronScan, the daily trading volume of Tether (USDT) on Tron has exceeded $53 billion. This coincides with a surge in transfers (2.18 million) and holders (45.32 million).
The number of USDT holders on Tron has been steadily rising, reaching over 25 million in 2023 and 1.4 million in 2020.
Tron Exceeds Visa and Mastercard
The daily USDT trading volume on Tron has surpassed that of Visa and Mastercard, two of the world's largest payment processors.
Growth in DeFi and Revenue
Data from DeFi Llama indicates that the total value locked (TVL) within Tron's DeFi ecosystem has increased to $8.13 billion, with JustLend, JustStables, and SUN contributing significantly.
Tron remains the second most profitable player in the crypto industry, with an annual revenue exceeding $735 million, trailing only Ethereum.
Potential Challenges
However, Tron faces potential challenges. In 2023, the Securities and Exchange Commission (SEC) brought charges against Justin Sun and others for fraud and securities violations. The outcome of this lawsuit remains uncertain.
Additionally, Circle recently withdrew its support for USD Coin on Tron.
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