TRON network skyrockets to 100 million addresses, dwarfing Cardano and Avalanche

As the majority of assets in the cryptocurrency industry are making bullish advances, led by its representative, Bitcoin (BTC), which itself is threatening to break the massively important price threshold at $60,000, TRON (TRX) is making a record of its own – in the number of addresses holding it.

Specifically, there are currently 95.83 million crypto wallets holding any amount of TRON, making it an all-time high (ATH) for the network, according to the blockchain data shared by the decentralized finance (DeFi) market intelligence platform IntoTheBlock in an X post published on February 28.

TRON total addresses with balance. Source: IntoTheBlock

Cardano and Avalanche vs. TRON

By comparison, other layer 1 networks, including Cardano (ADA) and Avalanche (AVAX), have fewer than 10 million addresses, and the analytics platform’s team observed that TRON’s “consistent growth in addresses highlights the growth TRON DAO is fostering.”

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Indeed, according to the latest available information, there were about 4.46 million crypto wallets holding Cardano, whereas the Avalanche ecosystem counted 6.96 million holders as of February 12, 2024, amounting to a little over 11.4 million addresses when combined and well below TRON’s figures.

Cardano total addresses with balance. Source: IntoTheBlock

TRON price analysis

Meanwhile, TRON’s native token was at press time changing hands at the price of $0.1437, an increase of 1.42% in the last 24 hours, adding up to the 3.28% gain across the past seven days and a more significant advance of 27.48% on its monthly chart, in addition to rallying 106.72% in the last year.

TRON 12-month price chart. Source: Finbold

Interestingly, these results are arriving after Circle announced it was removing the support for its USD Coin (USDC) on the TRON platform as part of its “risk management framework,” raising concerns regarding the future performance of TRX. However, the concerns now seem misplaced.

All things considered, TRON is witnessing consistent growth in both its community and price, which has neared its levels from April 2021, although it still has room to reach its ATH of $0.23 from January 2018. That said, doing one’s own research before investing in any asset is critical.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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