TRX surged to an all-time high of $0.43 after seeing gains early in the Asian session. Tron’s monthly stablecoin transfer amount reached $500 billion in November, surpassing Base and Solana. Total Tron holders have surpassed the 120 million mark and daily revenue has reached a new high.
TRON’s native token, TRX, saw a significant rally on Wednesday, reaching an all-time high of $0.43 as monthly stablecoin transfer volume exceeded $500 billion.
Holders exceed 120 million people, TRX hits new all-time high
Tron has generated a lot of buzz in the past 24 hours, with its token rising more than 20%. The token hit a new high in seven years, rising to $0.43, but had corrected to $0.34 at the time of writing. The recent rally has pushed TRX's monthly gains over 100%.
TRX/USDT Max Chart | CoinGecko
The rise in TRX can be attributed to the increased activity on the Tron blockchain over the past few days.
According to Lookonchain data, the Tron protocol's daily revenue hit an all-time high of $21.6 million on Tuesday, representing a 98% increase.
Similarly, TRONSCAN, a block explorer for the Tron blockchain, revealed that the total number of Tron transactions has exceeded 9 billion and the total number of accounts has increased to 276 million.
A notable reason for the increase is the dominance of Tron’s stablecoin in emerging markets. According to Messari Crypto, Tron's monthly stablecoin transfer volume exceeded $500 billion in November, an increase of $150 billion year-over-year, surpassing blockchains such as Base and Solana.
Tron Stablecoin Volume | Messari
The supply of USDT on blockchain has also increased by 25% since the beginning of the year, demonstrating blockchain’s strong advantage over stablecoins. The Ethereum blockchain just recently reversed Tron in the supply of USDT. This is the first time in two years.
According to IntoTheBlock data, 30% of blockchain stablecoin transactions originate from wallets worth less than $1,000, and the total number of addresses holding crypto assets exceeds 120 million users. This shows that the use of Tron by retailers is increasing.
Total addresses with Tron balances | Into the Block
Additionally, Tron co-founder Justin Sun hinted at the possibility of Ripple’s new RLUSD stablecoin being launched on the Tron blockchain.
