Tron Network Sees 52% Increase in Active Addresses Since January

IntoTheBlock, a DeFi intelligence platform, has reported a significant increase in the number of active addresses on the Tron (TRX) blockchain. The number of daily active addresses has risen from 1.59 million on January 1st, 2024, to an average of 2.42 million currently. This represents a 52% increase, indicating robust growth in user engagement and activity on the network.

The graph provided by IntoTheBlock shows a clear upward trend in daily active addresses since the beginning of the year. Peaks in activity mark periods of high network usage, while slight declines follow these spikes. Despite these fluctuations, the overall trend remains positive. The increase suggests growing usage and possibly more transactions on the Tron network, driven by factors such as new decentralized applications (dApps) and significant events within the Tron ecosystem.

This surge notably coincides with a decline in TRON’s price. At press time, TRON (TRX) is priced at $0.1289, with a 24-hour trading volume of $397,652,231. However, it has experienced a -2.29% price decline in the last 24 hours and a -4.80% decline over the past seven days. Despite these short-term setbacks, TRON maintains a circulating supply of 87 billion TRX, giving it a market cap of $11,221,464,034. While TRON’s performance over the past week shows a decline, it is still performing better than the global cryptocurrency market, which is down -1.40%.

In related news, Tron DAO recently issued a directive to TRX holders to migrate their BEP2 tokens to the BNB Smart Chain. This move is in response to the upcoming closure of the BNB Beacon Chain, as announced by the BNB Chain. The Beacon Chain, essential for staking and governance on the BNB network, will sunset in June 2024. Consequently, assets on the BEP2 and BEP8 protocols must be transferred to the BNB Smart Chain or other blockchains by May 2024 to avoid losses.

This directive follows the BEP333: BNB Chain Fusion proposal, which aims to merge the BNB Beacon Chain with another segment of its network. This consolidation intends to enhance the blockchain’s development efficiency, security, and asset utilization effectiveness.