Tron (TRX) has surged for three consecutive days, hitting $0.1185 on Friday, its highest in a month. This rally coincides with a spike in USDT transactions on the Tron network.
According to TronScan, daily USDT trading volume on Tron reached over $53 billion, with 2.18 million transfers and 45.32 million holders. The number of USDT holders on Tron has grown significantly from 25 million in early 2023 and 1.4 million in 2020.
Tron’s USDT trading volume now surpasses that of Visa and Mastercard, highlighting its growing influence. DeFi Llama data shows that stablecoins on Tron have reached $58 billion, 51% of the total Tether supply.
Tron’s DeFi ecosystem’s total value locked (TVL) is over $8.13 billion, primarily in JustLend, JustStables, and SUN. Its revenue this year is $735 million, second only to Ethereum.
Despite these achievements, Tron faces challenges, including an SEC lawsuit against Justin Sun and the end of Circle’s support for USD Coin on Tron.
Tron’s performance underscores its strategic importance in the crypto industry, especially in stablecoin transactions and DeFi.
