TRON outperforms altcoins in terms of performance and expands partnerships, with Kraken launching xStocks and supporting TRX on MetaMask, driving strong user growth.
TRON is making its mark with impressive price growth, extensive integration with major exchanges and wallets, becoming the leading platform for USDT transfers and asset tokenization.
MAIN CONTENT
TRON leads in price performance compared to other major altcoins and Bitcoin over the past year.
The collaboration with Kraken and MetaMask, along with the level of USDT integration, significantly boosts the number of users and TRON's chain activity.
TRON continues to solidify its position as the preferred platform for stablecoins, DeFi, and tokenization of traditional assets.
What is TRON?
TRON is a blockchain founded by Justin Sun, aimed at creating a decentralized environment for digital content, DeFi, and token issuance.
Launched in 2017, TRON has rapidly developed due to high transaction speeds, low costs, and broad support for DeFi applications and stablecoins. The native cryptocurrency TRX is used to pay fees and transact in this ecosystem.
TRON is transforming into the foundational layer for digital assets worth billions of USD, attracting major global partners.
Justin Sun, Founder of TRON, 2024 (Source: X)
How has TRON outperformed Bitcoin and other major altcoins?
In the recent week, TRON has increased by 2.66% compared to Bitcoin, surpassing both Solana (over 1%) and Ethereum (over 1%). Ripple even recorded a decrease of 2.28% during the same period.
This outstanding performance extends TRON's growth streak since the beginning of the year, with a profit of over 115% (according to CoinMarketCap). This is the result of a combination of strong user growth and integration with major partners focused on stablecoins.
The increase in activity and the number of users has helped TRON become a top performer among altcoins, especially when compared to major platforms like Ethereum and Solana.
Market Report, CryptoQuant, 2024
Many investors who missed the opportunity to buy TRX during the bear market now express regret, as TRX has continuously set new highs since 2021.
Comparison of major altcoin performance with Bitcoin (weekly, 2024) Project Increase/Decrease compared to BTC (%) TRON (TRX) +2.66 Solana (SOL) ~+1 Ethereum (ETH) ~+1 Ripple (XRP) -2.28
What drives user growth on TRON?
User growth is the main driver of TRON's price, stemming from strong chain activity expansion, particularly thanks to integration with large enterprises and the USDT stablecoin.
Recently, Kraken announced the xStocks trading feature on TRON, paving the way for the trading of tokenized real stocks (like Apple, Tesla) directly on this blockchain, helping to attract more traditional investors into the cryptocurrency ecosystem.
Bringing traditional financial products like tokenized stocks to TRON will drive a wave of new users and diversify the ecosystem.
Kraken report, 2024
Additionally, MetaMask has just integrated TRX, allowing over 100 million users of this wallet to access TRON directly. MetaMask has also added support for Sei Network and Solana, showing a clear multi-chain expansion strategy. According to CoinMarketCap, USDT is currently the most traded token on TRON, with over $860 million moving through exchanges in just one growth phase, accounting for 61% of the total trading volume on TRON since 2022.
What is the impact of USDT and major exchanges in the TRON ecosystem?
The majority of USDT transactions – the most popular stablecoin in the world – occur on TRON, significantly increasing the activity and applicability of this network.
This strong momentum explains why large institutions and exchanges like OKX and Bitfinex choose TRON as their top priority platform for moving stablecoins. Statistics show that OKX leads in the amount of USDT transferred to the exchange via TRON, with Bitfinex ranking second (about 1/5 of OKX's volume).
Since 2022, over 61% of all transactions across the TRON network have involved USDT, demonstrating the positioning strength of this blockchain in the stablecoin ecosystem.
CryptoQuant, 2024
The current TRX exchange rate is $0.35, maintaining support above the resistance level since hitting a low of $0.24 on July 23. Technical indicators like MACD show positive reversals, however, the RSI indicator still warns of overbought conditions, reflecting TRON's ongoing appeal despite short-term adjustment pressures.
What does adjusting TRON's transaction fees mean?
Justin Sun is considering adjusting transaction fees as TRX prices rise, leading to increased fees on the network.
The goal of this adjustment is to help TRON maintain its competitive position against DeFi platforms, stablecoin issuance, and asset tokenization, keeping it attractive for both developers and institutions.
Competing transaction fees with major blockchains is key for TRON to continue succeeding in the stablecoin and asset tokenization sectors.
CoinMarketCap market evaluation, 2024
Controlling reasonable costs enables businesses and organizations to continue prioritizing TRON as the platform for transferring USDT, building DeFi, and issuing tokenized stocks.
Frequently Asked Questions
What is TRON and who founded it?
TRON is a blockchain aimed at decentralizing digital content, founded by Justin Sun in 2017, to accelerate the development of DeFi and stablecoins.
What are the highlights that help TRON outperform Bitcoin and other altcoins?
TRON leads the altcoin group with outstanding price performance, increasing over 115% and recording the highest increase compared to Bitcoin in the recent week.
Why did Kraken and MetaMask choose to integrate TRON?
Kraken and MetaMask integrate TRON due to its transaction speed, low fees, and large stablecoin ecosystem, helping to attract more users and cash flow.
What is the role of USDT in the TRON ecosystem?
USDT accounts for over 61% of the total trading volume on TRON since 2022, becoming the main growth driver and attracting institutional investors and large exchanges.
What roles do OKX and Bitfinex play in the cash flow on TRON?
OKX is the leading exchange in terms of USDT received via TRON; Bitfinex ranks second, supporting increased liquidity and market stability.
What is the current TRX price and its technical trend?
TRX is currently trading around $0.35, maintaining support since July and receiving positive technical signals from MACD.
How does TRON compete with transaction fees in DeFi?
TRON is considering adjusting fees to maintain attractiveness for stablecoin issuance, stock tokenization, and DeFi services.
Source: https://tintucbitcoin.com/tron-dan-dau-tang-truong-sol-xrp-sao/
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