TRON Leads Altcoin Transactions with 43% Dominance in October

• TRON regains transaction dominance, processing 43% of major altcoin blockchain transactions by the end of October 2024.
• TRON’s October transaction volume hits 230 million, boosted by a significant spike and strategic network focus on the USDD stablecoin.

The TRON Network has lately reaffirmed its status as a top blockchain, with significant growth in transaction dominance. Data from CryptoQuant shows that, as of October 30th, TRON’s proportion of total transactions across significant cryptocurrency blockchains has skyrocketed and now accounts for 43% of the activity.

This mark emphasizes TRON’s fresh relevance and shows its capacity to regularly handle a significant transaction volume. The network conducted 230 million transactions overall in October alone, with a noticeable surge on October 24th, when it handled 10.46 million transactions—about 25% above the 30-day moving average.

TRON Transaction Dominance (%) Rises to 43%

"The #TRON Network is regaining popularity, as seen in its share of total transactions across major altcoin blockchains, shown in red ().

Over recent days, $TRON has been the leading alt-chain for transaction processing.

On… pic.twitter.com/Ugdk4L6XO8

— CryptoQuant.com (@cryptoquant_com) November 1, 2024

TRON Recovery Mirrors Early 2024 Performance Trends 

The comeback in TRON’s transaction dominance corresponds with its performance in earlier 2024, when it regularly led in transaction volume. The network did, however, see a brief decline between August 25 and October 5, when rival blockchains showed more activity.

Supported by prior performance patterns, TRON’s trajectory has now turned back upward, suggesting a great possibility to keep its leading position among altcoins.

Justin Sun, the TRON founder, has published a strategic statement stressing the value of the USDD stablecoin upgrade, therefore adding to this momentum. Sun affirmed, according to CNF, that improving the USDD stablecoin would be top priority for the last quarter of the year.

This action is a component of a larger plan meant to support the financial strength and utility of the network. Valued at $16 billion, TRX is the native cryptocurrency of TRON; Sun hopes to use this strong financial basis to drive further expansion of TRON.

Meanwhile, reflecting a 0.54% increase over the last 24 hours, TRX is trading at about $0.1651 as of writing. The increasing trend in market performance of TRX together with the increasing transaction volume of the network point to a favorable future for TRON.