Tron (TRX) Sees 237% Spike in Long-Term Holder Addresses

According to data from blockchain intelligence firm IntoTheBlock, the number of addresses holding Tron’s native token TRX for the long term has surged in the past year.

A tweet from the market analysis platform disclosed that the Tron network now boasts nearly 90 million long-term holder addresses, marking a remarkable 237% growth over the preceding year.

Increase in TRX Long-term Holders

IntoTheBlock indicated that the rise in TRX’s long-term holder addresses signifies strong confidence in the network’s outlook, as an increasing number of investors opt to hold the cryptocurrency for extended periods.

This surge in addresses also points to substantial growth and heightened activity on the Tron network. In recent weeks, TRX has been among the top-performing digital assets in the market. The token experienced a 30% increase during the last fortnight of August, placing it within the top ten cryptocurrencies by market capitalization, exceeding $14.5 billion.

Although at the time of writing TRX’s market cap had dipped to $13.3 billion, the token remained the 11th largest, outpacing Cardano (ADA) and Avalanche (AVAX).

The price rise of Tron in August benefited all of its holders. At that period, the asset valued at $0.167. Nevertheless, TRX’s minor slip to $0.154 at the time of reporting has led to 95% of holders remaining in profit; 2% currently face a loss, while the remaining 3% break even.

Increased Stablecoin and Network Activity

In addition to the notable price fluctuations of TRX and the soaring number of long-term holder addresses, the Tron ecosystem has witnessed elevated transaction volumes and revenue growth over the past months.

In April, IntoTheBlock reported that the weekly transaction volume of Tether (USDT) on Tron was twice as much as that processed on the Ethereum network. In June, the blockchain analytics platform Lookonchain discovered that the 24-hour USDT trading volume on Tron hit $53 billion, surpassing Visa’s average daily trading volume of $42 billion in the first quarter.

Data from Token Terminal last month indicated that Tron had surpassed Ethereum in revenue generation. During the 90 days leading up to August 15, Tron amassed approximately $435 million in fees, compared to Ethereum’s $364 million.

Moreover, Tron’s new meme coin creation platform, SunPump, has seen remarkable engagement since its launch less than a month ago, facilitating the introduction of over 50,000 tokens.