TRON Sees 237% Surge in Long-Term Holder Addresses, Approaching 90M

TRON’s future appears promising, with the number of long-term holder addresses for TRX, its native cryptocurrency, soaring to nearly 90 million. The substantial 237% increase over the past year, as reported by IntoTheBlock, a blockchain analytics firm, indicates a major shift in investor sentiment toward holding TRX tokens for extended periods.

$TRX currently has nearly 90 million long-term holder addresses, an increase of 237% in the past year.

This increase reflects strong confidence in @trondao's future, as more people choose to hold $TRX for the long term pic.twitter.com/s75HDUGa7a

— IntoTheBlock (@intotheblock) September 12, 2024

Surge in Memecoin Activity on the TRON Network

The TRON network has seen a significant boost in activity following the launch of SunPump by the decentralized finance (DeFi) protocol Sun.io. SunPump is a platform designed for the fair launch and trading of memecoins, allowing users to create memes easily and affordably. This has led to a sharp increase in transactions over $100 and $10,000 on the Tron blockchain.

Despite this, SunPump has recently faced a notable decline in memecoin activity. Data from Dune Analytics shows that new token creation dropped to 766 on September 8, from a peak of 7,531 tokens last month. Daily launches have been fewer than 1,000 since September 5, with 753 tokens created on September 11.

TRON has recently emerged as a leader in blockchain revenue generation. With a remarkable revenue figure of $236.85 million, it has become a significant player in the blockchain industry. The achievement highlights the growing diversity and competition in the blockchain ecosystem, where platforms are expanding their services to meet the rising demand for decentralized applications (dapps) and financial services.

TRON’s Liquidity and USDT Security

TRON’s considerable advantage lies in its $60 billion liquidity pool in TRON USDT, a figure unmatched by other blockchain protocols. This substantial liquidity supports the thriving memecoin market on TRON. However, the stability and widespread use of USDT has made it a target for illicit activities. TRM Labs’ “Illicit Crypto Economy” report reveals that USDT accounted for over $19 billion in illegal funds, surpassing other stablecoins.

Tether has teamed up with TRON and TRM Labs to combat these issues to form the T3 Financial Crime Unit (T3 FCU). The collaboration aims to enhance security and address the misuse of USDT on the TRON blockchain by leveraging the expertise of Tether’s external investigations team, TRM Labs’ anti-financial crime skills, and TRON’s technical capabilities.