Recently, the blockchain data analysis platform CryptoQuant released a data report on TRON in 2024. The report deeply analyzes the performance of various key data of the TRON network in 2024, including core data, DeFi and Meme market growth, and emphasizes the outstanding performance of the TRON network in multiple fields.
Summary of key points
In 2024, USDT will still be the dominant force in the TRON network. At the same time, the popularity of DeFi and Meme transactions will increase significantly, demonstrating the diversified development of the TRON ecosystem.
In 2024, the core data on the TRON network continued to maintain stable development. From February to October 2024, the total number of transactions on the TRON network increased by 84%, and the total number of transactions for the whole year exceeded 2.38 billion, showing strong network activity. At the same time, the number of active addresses increased by 22% year-on-year, from 20.6 million in January to 25.2 million in December, reflecting the continued improvement of user participation.
In 2024, transaction fees on the TRON network remain at a low of $1, despite significant growth in total transactions, transfers, and DeFi activities.
In 2024, all USDT data on the TRON network increased significantly compared to the previous year. Among them, the issuance volume increased from 48 billion to 62 billion; the total transfer amount increased from US$362 billion to US$576 billion; and the average monthly transfer number increased from 55 million to 62 million.
In 2024, the transaction volume of SunSwap, an exchange protocol based on the TRON network, increased significantly, marking the booming development of the TRON network DeFi ecosystem.
As of December 2024, SunPump, a meme launch and trading platform on the TRON network, has launched 94,000 tokens and significantly driven the growth of trading volume.
Core data growth
In 2024, transaction activity on the TRON network has seen strong growth. The total number of transactions on TRON (purple bars in the figure below) increased by 84% from 129.8 million in February 2024 to 239.6 million in October, and the total number of transactions for the whole year of 2024 reached 2.38 billion. The total number of transactions is a direct indicator of the blockchain network to measure the frequency of on-chain value flow, smart contract interaction or token circulation.
Additionally, the average number of transactions per active user on the TRON network (purple line in the chart below) grew from 5.9 in February 2024 to 9.2 in December 2024, showing increasing user engagement and network utility.
In 2024, the transaction and transfer activities of the TRON network continued to grow, reflecting the strong market demand for TRON services. In December 2024, the total transaction fees generated by the TRON network reached US$236 million (approximately 1.1 billion TRX), a significant increase from US$102 million (approximately 900 million TRX) in the same period of 2023.
USDT, DeFi, and Meme
In 2024, the average daily transfer volume of TRON USDT was 2 million, reaching a peak of 3.2 million, accounting for 95% ‑ 99% of the total daily transfer volume of the TRON network. The issuance of TRON USDT increased from 48 billion in December 2023 to 62 billion in December 2024, and the total transfer volume also climbed from US$362 billion to US$576 billion. During the same period, the monthly transfer volume of TRON USDT increased from 55 million to 62 million, showing the continued growth of TRON network USDT trading activities.
In the second half of 2024, the transfer volume of the TRON network further surged, especially the transactions on decentralized exchanges (DEX) increased significantly. At the same time, the Meme craze accelerated the diversification of TRON network activities. Among them, in August 2024, the daily transfer volume of tokens other than USDT once reached 39% of the total transfer volume of the TRON network. The rise of DeFi and Meme markets significantly increased the overall activity and user participation of the TRON network.
SunSwap
In 2024, WTRX transaction volume surged, mainly driven by its use in the exchange protocol SunSwap. From August to December 2024, SunSwap transaction volume exceeded 8.3 million, of which more than 80% were related to WTRX. This shows the growing importance of decentralized exchanges in the TRON ecosystem and demonstrates the ability of the TRON network to support large-scale DeFi activities.
SunPump
The activity of the TRON network has increased significantly due to the launch of SunPump. Since August 20, 2024, the number of tokens created on the SunPump platform has increased rapidly, from 7,500 to 94,000 in December. This change has driven a significant increase in the transaction volume of the TRON network, further enhancing the overall activity.
Full report: https://cryptoquant.com/applied-research/6785e7879e66406395c30c08
