The post Can TRON Sustain Its Lead Over Bitcoin and Ethereum? appeared on BitcoinEthereumNews.com.

TRON handles around 8 million transactions daily, primarily driven by stablecoin activity. The increasing demand for stablecoins has fueled TRON’s market share growth despite Ethereum’s dominance. Layer 2 scaling solutions can address the rising fees on blockchains like Bitcoin and Ethereum. TRON is experiencing rapid growth in transactions and on-chain activity, making it a leading blockchain network. It now processes over 8.1 million transactions daily, surpassing both Bitcoin and Ethereum. This surge in activity is primarily driven by stablecoin usage on the TRON network. However, the increased transaction volume has also led to a rise in transaction fees, now averaging $0.887. With such growth, there is speculation about layer-2 scaling solutions, similar to those implemented on other blockchains like Ethereum. TRON Gains Ground in the Stablecoin Market Although Ethereum is still the leader in the stablecoin market, holding 49.1% of the total supply ($84.6 billion), TRON has established a significant presence with 34.8% ($59.8 billion) of the $144.4 billion market. Read also : TRON’s Daily Active Accounts Surge 0.56%, Justin Sun Announces TRX Airdrop Ethereum’s market share has since declined due to factors like the rise of layer 2 solutions and the Terra Luna collapse. This presents a good opportunity for scalable platforms like TRON to capitalize on the growing demand for stablecoin solutions and expand their market share. Alongside this, the average transaction fee on the network has risen from around $0.20 two years ago to nearly $1 today. The rapid growth has catapulted TRON as a major player in the blockchain space, surpassing its competitors Bitcoin and Ethereum in daily transaction volume.  TRON’s Strong Q3 Results Fuel Future Growth Expectations Adding to the momentum is the network’s financial success in Q3 of 2024, when it made $577 million in revenue, a 43% increase over Q2. TRON founder Justin…

---

Filed under: News - @ October 3, 2024 4:27 pm