Long-term addresses of Tron (TRX) holders are up 237% in the past year: ITB

The number of addresses holding Tron’s long-term native token TRX has skyrocketed over the past 12 months, according to data from blockchain intelligence firm IntoTheBlock.

A tweet from the market analysis platform revealed that the Tron network currently has nearly 90 million long-term holder addresses, representing a 237% increase over the past year.

Long-term TRX holders are rising

IntoTheBlock said that the increase in the addresses of long-term holders of TRX shows a strong confidence in the future of the network, as more investors are willing to hold the cryptocurrency for an extended period.

The increase in addresses also reflects significant growth and high activity on the Tron network. Over the past few weeks, TRX has been one of the best performing crypto assets on the market. The token’s 30% rise in the last two weeks of August placed it among the top ten cryptocurrencies by market capitalization, with a figure exceeding $14.5 billion.

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

The rise in Tron’s price in August brought profits to all its holders. At that time, the asset was worth $0.167. However, TRX’s slight drop to $0.154 at press time had reduced its holders’ share of the money to 95%; 2% is currently in loss while the remaining 3% is in the money.

Increased activity of stablecoins and the network

In addition to the remarkable price movement of TRX and the growth of its long-term holder addresses, the Tron ecosystem has seen high transaction volumes and revenues in recent months.

In April, IntoTheBlock noted that the weekly transaction volume of Tether (USDT) on Tron was double the amount that the stablecoin settled on the Ethereum network. In June, blockchain analytics platform Lookonchain found that 24-hour USDT trading volume on Tron reached $53 billion, surpassing payment giant Visa’s $42 billion average daily trading volume during the first quarter of the year.

Last month, data from Token Terminal revealed that Tron had surpassed Ethereum in revenue generation. In the 90 days ending August 15, Tron collected approximately $435 million in fees, while Ethereum recorded $364 million.

Additionally, Tron’s new meme coin creation platform, SunPump, has seen remarkable activity since its inception less than a month ago, facilitating the release of over 50,000 tokens.

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