Tron Network Tops Chart With 1.83M Daily Active Addresses
In a significant development, Tron has emerged as the blockchain with the most daily active addresses. According to data from DefiLlama shared by Lookonchain, the layer-1 network currently has 1.83 million daily active addresses.
Here are the top 10 chains by active addresses (24h).
The 24-hour active address of #Tron is 1.83M, the 24-hour active address of #Polygon is 1.18M, and the 24-hour active address of #Solana is 829.8K. pic.twitter.com/gGnXbMpJFZ
— Lookonchain (@lookonchain) July 8, 2024
Tron Dominates Ethereum, Solana & Others
This metric places Tron as the blockchain with the highest daily active addresses. Trailing Tron is Polygon with 1.18 million addresses, followed by Solana with 829.8K addresses, and BNB Smart Chain (BSC) with 828.7K addresses.
Other blockchains in the top 10 list include Bitcoin, with 594.4K; Arbitrum, with 517.2K; and Base, with 444 K. Ethereum, Litecoin, and Scroll have 364.9K, 270.6K, and 72.8K addresses, respectively.
Surge in Network Activity
The latest number of daily active addresses on Tron signals a surge in network usage among investors. This suggests that users are interacting with the network either by performing buy and sell transactions, using decentralized applications (dApps), or engaging in governance participation. While it doesn’t directly influence Tron’s trading volume and revenue, the growth in active addresses is a positive sign as it contributes to the network’s health.
However, despite Tron’s dominance among other blockchains, the latest metric is still down from the over 2 million daily active addresses recorded on the network around this same time last month. Moreover, on June 26, it had 2.5 million daily active addresses.
Meanwhile, the latest development comes as the Tron team is actively developing a new solution that will enable gas-free stablecoin transfers on the network. This means that users will be able to make stablecoin-related transactions on Tron without the need to pay a gas fee. Instead, the fees will be entirely covered by the stablecoins themselves.
According to Tron founder Justin Sun, the solution will be available on the blockchain in this year’s fourth quarter (Q4) before being expanded to Ethereum and all EVM-compatible public chains. This initiative is expected to foster more adoption for Tron.
The post Tron Network Tops Chart With 1.83M Daily Active Addresses first appeared on Cointab.
