Messari Report: TRON Network Experiences Significant Growth In This Quarter

Justin Sun's Crypto TRX. (Photo; Doc. TimeTurk)

JAKARTA - The TRON (TRX) network managed to record significant growth in the second quarter of this year, according to a recent report from Messari. The data show that daily active accounts, new accounts, and transactions on the TRON network each increased by 14%, 13.4%, and 28.9%.

This increase is in line with the launch of BitTorrent Bridge and Stake 2.0 as well as other developments, which have expanded user capabilities and engagement on the network.

The increase in network activity also had a positive impact on TRON revenue, which increased by 11.6% in terms of TRX or 22.2% in USD from the previous quarter. This revenue growth also caused large amounts of TRX to be burned, which has supported token value in markets that tend to flat down.

TRX managed to surpass many other Layer 1 tokens during the quarter, with its market cap rising by 14.7% while other Layer 1 tokens experiencing an average decline of 23%.

TRON also demonstrates its commitment to developing DeFi (Decentralized Finance), with applications and infrastructure providers increasingly integrating TRX liquid staking and decentralized resource markets.

The prominent DeFi TRON protocol, such as JustLend, JustStables, SUN, and JustMoney, has recorded an increase in Total Value Locked (TVL), reflecting dynamic activity in the network's DeFi sector.

Meanwhile, in the stablecoin sector, TUSD managed to become the second largest stablecoin on TRON with 420% growth in Q1 and 76% in Q2. Despite this, USDT still dominates with 92% of total stablecoin value.

However, in the face of success, the TRON network also faces challenges, especially in terms of regulation. Some exchanges involved in the sale of unregistered crypto asset securities have received complaints from the SEC (Securities and Exchange Commission), and TRON's TRX is among those affected. This more stringent regulation has put pressure on the value of TRX.

However, Messari's report highlights TRON's ambitious future plans and in line with its ongoing strategy. The ecosystem's roadmap shows that there are three major integrations, namely Apollo, Star Trek, and Eternity, which will soon be implemented. This integration aims to improve network functionality, expand userability, and improve the capabilities of the TRON network.