Tron maintains strong user base despite market crisis

The Tron network has demonstrated remarkable strength in the face of the crisis affecting the cryptocurrency market, maintaining a solid and active user base.

Since the start of the year, the number of active users has seen steady growth, hovering near all-time highs, despite ongoing uncertainty and widespread selling pressure, analyst CQ Ben said, as cited by analytics firm CryptoQuant.

In the following graph you can see the growth of Tron network users that already reaches 2 million between last January and so far in July.

This positive performance is mainly attributed to the existence of unique and attractive applications that make up the Tron ecosystem, such as payment solutions, stablecoins and real-world assets, Ben explains.

These applications have allowed the network to attract and retain users while other networks struggle to find their place in the market.

A key factor in this success is the presence of USDT, the stablecoin with the largest market capitalization, issued by Tether on the Tron network.

Currently, Over $59 Billion in USDT Has Been Issued on the Tron Networkaccording to Tether data. The number of unique addresses holding this version of the stablecoin amounts to 46,892,965.

In contrast, the number of holders of ERC20-based USDT (Ethereum network) barely reaches 5,719,460.

Tether has been instrumental in the resilience of the Tron network, among other things, due to its growing expansion. In the first quarter of 2024, the company reported a record net profit of $4.52 billion, as reported by CriptoNoticias.

Innovations on the horizon for Tron

Tron network founder Justin Sun has announced the development of A new solution that will allow gas-free stablecoin transfersThis means that transfers can be made without having to pay any gas tokens, as the fees will be covered by the stablecoins themselves.

“This innovative solution will be initially implemented on the Tron blockchain and will subsequently be supported on Ethereum and all EVM-compatible public chains,” Sun said via social media network X.

The development is expected to be launched in the fourth quarter of this year. Sun claims that this type of services It will make it easier for large companies to implement services with stablecoinsdriving mass adoption of cryptocurrency networks to a new level.

TRX Resists the Overall Market Decline

Tron’s native cryptocurrency, TRX, has shown remarkable resilience in the face of the widespread decline affecting the market, currently trading at $0.12as seen on the TradingView chart.

In fact, TRX has seen a 10% increase in the past monthwhile other cryptoassets such as ether (ETH), Ethereum’s cryptocurrency, have fallen by 18% and bitcoin (BTC), the main currency in the market, has experienced a drop of 19% in the same period.