Tron Energy Needs Rise 100% In 3 Months: New All-Time High Incoming?

Dalmas Ngetich

8 months ago

2 mins read

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Tron is now in the top 10 blockchains by market cap, flipping Toncoin and Cardano. While there were initial doubts about the network dying a natural death due to the then “superior” competitor Ethereum in the first few years, the smart contracts platform has surpassed expectations.

Tron Energy Demand Doubles In 3 Months

At spot rates, is TRX likely to print fresh all-time highs, and the mainnet is also thriving. According to IntoTheBlock, the Tron energy requirements have expanded 100% in the past three months.

Experts say the rapid increase in Tron energy indicates growing network activity and rapid adoption. Like Ethereum and other modern chains, Tron is energy efficient and relies on validators for transaction processing.

Tron energy doubles in 3 months | Source: @intotheblock via X

However, in Tron’s case, energy is useful when executing smart contracts on the mainnet. As more people deploy meme coins or launch DeFi dapps, the mainnet’s “fuel” demand also increases. Rising resource needs push Tron energy to fresh levels.

By how Tron is designed, more energy is needed during periods of high demand to prevent gas fees from spiking in case transactions are congested. That energy has been rising in the past few months is not surprising. Not only does Tron boast of a thriving DeFi ecosystem, but it also has a vibrant meme coin scene.

Ecosystem Boom Driven By Meme Coins: TRX Priming For New All-Time Highs?

DeFiLlama shows that all Tron DeFi dapps manage over $7 billion of assets. On the other hand, the recent launch of SunPump, a meme coin launchpad in August, has seen over 91,000 meme coins deploy on the network. Looking at Dune, over 1,700 tokens have been listed on Sunswap.

Coincidentally, the spike came with the activation of SunPump in August. As of October 24, SunPump has helped Tron generate over $5.4 million in revenue, looking at Dune data. Others came from smart contract deployments via gaming, DeFi, and other diverse dapps on the platform.

TRX price moving upward on the daily chart | Source: TRXUSDT on Binance, TradingView

TRX is trading at around October 2024 highs at press time, defying gravity. Interestingly, despite the momentum challenges Ethereum faces, TRX, on the other hand, is less than 4% away from all-time highs. If bulls build on October 24 gains, the coin may easily break August highs, printing a new all-time high in Q4 2024.

Feature image from DALLE, chart from TradingView

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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