Tron price has experienced a steady rise over the past three days, driven by strong performance indicators within its ecosystem. As of Friday, TRX reached $0.1185, marking its highest point in a month. This represents a 7.65% increase from its lowest point this month, even as other altcoins like Ether, Solana, and Pepe saw declines.

Tron Ecosystem Performance

According to on-chain data from TronScan, the 24-hour trading volume of Tether (USDT) on Tron surged to over $53 billion. This increase is accompanied by a significant rise in the number of transfers, which jumped to over 2.18 million, and the number of holders, now over 45.32 million.

The number of USDT holders on Tron has been on a strong uptrend over the past few months. Data indicates that the figure was over 25 million in the same period in 2023 and about 1.4 million in 2020.

USDT Trading Volume

Interestingly, the volume of USDT traded on Tron has surpassed that of Visa and Mastercard, the two largest payment processing companies globally. The 24-hour trading volume of USDT on Tron is $53 billion, exceeding Visa’s average daily trading volume of $42 billion in Q1 2024.

These numbers highlight Tron’s significant role in the cryptocurrency market, especially since Tether is a key stablecoin.

Data from DeFi Llama also shows that the volume of stablecoins on Tether has soared to more than $58 billion, accounting for 51% of the total Tether supply. Despite recent growth stalling, Tether remains a popular stablecoin. For instance, USDT has become more popular than Bitcoin in Latin America.

DeFi Ecosystem and Revenue

Tron’s DeFi ecosystem is also showing positive signs. The total value locked (TVL) has jumped to over $8.13 billion, with significant contributions from platforms like JustLend, JustStables, and SUN.

In terms of revenue, Tron stands as the second most profitable player in the crypto industry, with earnings exceeding $735 million this year, coming in second to Ethereum.

Challenges Ahead

Despite these achievements, Tron faces potential challenges. In 2023, the Securities and Exchange Commission (SEC) charged Justin Sun and others with fraud and other securities violations. The impact of this lawsuit on the network remains uncertain. Additionally, Circle recently ended its support for USD Coin on Tron.

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