Story Highlights;
- Tron’s stablecoin supply commands 37.9% of the market, and transfer volumes rose 5.1% in 30 days to $58.75 billion.
- On August 15, 2024, Tron’s daily stablecoin transfer volume hit $17.4 billion, significantly outpacing Solana and BNB Chain.
- Tron’s TVL surged to $10.55 billion, marking its highest level, driven by growing DeFi activity and increased on-chain revenues.
Tron’s dominance in the stablecoin space is growing, and that’s evident in the numbers. In July 2024, Tron had an adjusted transfer volume of $384 billion in USDT, it’s getting bigger in the crypto world.
Stablecoin Market Growth
Tron is now the second-largest blockchain in the stablecoin market after Ethereum. According to Coin Metrics Network, Tron’s stablecoin supply is now $61.1 billion, that’s 37.9% of the market, $161.1 billion. That’s up from $46.6 billion a year ago.
Transfer Volume
Besides market share, Tron has also seen a huge surge in stablecoin transfer volume. The network’s transfer volume grew 5.1% in the last 30 days and 158% year to date to $58.75 billion. Ethereum and BNB Chain grew by 103% and 46.5% in the year to date, respectively. Solana saw a 75% drop in stablecoin transfer volume in the same period. On August 15, 2024, Tron’s daily stablecoin transfer volume was $17.4 billion, Solana was $6.4 billion and BNB Chain was $1.6 billion.
DeFi and On-Chain Revenue
And Tron has seen DeFi activity picking up, with total value locked (TVL) reaching an all-time high of $10.55 billion on March 14, 2024. TVL has grown 12% since August 5, 2024, to $7.617 billion. Tron’s daily on-chain revenue has grown 27% in the last year, with $1.5 million in revenue on August 16, 2024. As Tron grows its stablecoin market share and transfer volume, its position in the crypto space gets stronger. The network is just getting bigger and bigger.
Personal Note From MEXC Team
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