TRON Reclaims Its Crown With 43% Dominance In Altcoin Transactions

Samuel Edyme

7 months ago

3 mins read

TRON Reclaims Its Crown with 43% Dominance in Altcoin Transactions

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The TRON network has been making a notable impact across altcoin ecosystems, regaining its position as the leading blockchain for transaction volume among major altcoin chains.

According to a CryptoQuant analyst known as ‘Maartuun,’ TRON has shown substantial transaction dominance recently, handling roughly 43% of transactions across major altcoin blockchains as of October 30.

This recent spike has pushed TRON to the top position for transaction processing in October, surpassing other major altcoin networks and highlighting its relevance in the current crypto market.

Deciphering TRON’s Transaction Dominance

Data shared by maartuun reveals that in October alone, TRON processed approximately 230 million transactions, marking a significant activity surge. On October 24, the network peaked, handling 10.46 million transactions, around 25% higher than its 30-day average.

This activity level reflects TRON’s increased usage, aligning with its performance in 2024, when it frequently led in transaction volume. However, between late August and early October, TRON’s transaction dominance slightly waned, with other networks experiencing temporary spikes in activity.

TRON’s return to the forefront suggests the asset is reclaiming its crown and maintaining its status as a “highly utilized” blockchain network for altcoin transactions.

The CryptoQuant analyst’s observations suggest that TRON’s current dominance in transaction volume is likely to persist. This trend is supported by historical data, showing that TRON has maintained strong transaction levels over extended periods.

It is worth noting that the network’s current transaction share indicates a broader shift within the blockchain industry toward networks that offer scalability and low fees, essential factors for sustaining high transaction rates.

TRON’s ability to handle many transactions daily sets it apart from many other altcoin platforms, adding to its appeal and supporting its adoption within various blockchain-based applications and projects.

TRON Market Performance

While TRON’s on-chain fundamentals appear to be doing well, the network’s native token (TRX) market price performance can also be said to have seen positive movements in recent weeks.

Particularly following the ubiquitous price increase in the crypto market led by Bitcoin, TRX has followed the overall bullish trend, increasing by 5.6% in the past fortnight and 3.1% in the past week.

However, the asset’s price performance in the past day isn’t all that positive. Over this period, TRX has faced a slight correction, falling from its 24-hour high of $0.1705 to a price of $0.1684 at the time of writing.

TRON (TRX) price chart on TradingView — BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

While TRX’s price has seen an uptick, its daily trading volume seems to be recording an opposite trend. In the past few days, this metric has decreased from over $600 million seen last weekend to below $500 million.

Featured image created with DALL-E, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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