TRON Reclaims Its Crown With 43% Dominance In Altcoin Transactions

Name	Symbol	Market	Market Cap ($)	Algorithm
Mina	MINAUSD	Crypto	605,553,955	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Mina

MINAUSD

Crypto

605,553,955

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.001	-0.19%	0.522	0.522	0.523

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.001

-0.19%

0.522

0.523

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.525	0.510	0.523	0.523	0.329000 - 1.73

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.525

0.510

0.523

0.329000 - 1.73

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:23:02	6.17	0.522	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:23:02

6.17

0.522

USD

Price x Volume	Volume	Base Symbol	Related Pairs
193,864.02	373,861.75	MINA	MINAEUR	MINAGBP	MINABTC

Price x Volume

Volume

Base Symbol

Related Pairs

193,864.02

373,861.75

TRON Reclaims Its Crown With 43% Dominance In Altcoin Transactions

01/11/2024 5:00am

NEWSBTC

The TRON network has been making a notable impact across altcoin ecosystems, regaining its position as the leading blockchain for transaction volume among major altcoin chains. According to a CryptoQuant analyst known as ‘Maartuun,’ TRON has shown substantial transaction dominance recently, handling roughly 43% of transactions across major altcoin blockchains as of October 30. This recent spike has pushed TRON to the top position for transaction processing in October, surpassing other major altcoin networks and highlighting its relevance in the current crypto market. Related Reading: Expert Picks 5 Altcoins To Watch, Declaring Arrival Of The Altseason After Three Years Deciphering TRON’s Transaction Dominance Data shared by maartuun reveals that in October alone, TRON processed approximately 230 million transactions, marking a significant activity surge. On October 24, the network peaked, handling 10.46 million transactions, around 25% higher than its 30-day average. This activity level reflects TRON’s increased usage, aligning with its performance in 2024, when it frequently led in transaction volume. However, between late August and early October, TRON’s transaction dominance slightly waned, with other networks experiencing temporary spikes in activity. TRON’s return to the forefront suggests the asset is reclaiming its crown and maintaining its status as a “highly utilized” blockchain network for altcoin transactions. The CryptoQuant analyst’s observations suggest that TRON’s current dominance in transaction volume is likely to persist. This trend is supported by historical data, showing that TRON has maintained strong transaction levels over extended periods. It is worth noting that the network’s current transaction share indicates a broader shift within the blockchain industry toward networks that offer scalability and low fees, essential factors for sustaining high transaction rates. TRON’s ability to handle many transactions daily sets it apart from many other altcoin platforms, adding to its appeal and supporting its adoption within various blockchain-based applications and projects. TRON Market Performance While TRON’s on-chain fundamentals appear to be doing well, the network’s native token (TRX) market price performance can also be said to have seen positive movements in recent weeks. Particularly following the ubiquitous price increase in the crypto market led by Bitcoin, TRX has followed the overall bullish trend, increasing by 5.6% in the past fortnight and 3.1% in the past week. Related Reading: Crypto Expert Discloses ‘Hidden Altcoin Gem’ With 1,900% Upside However, the asset’s price performance in the past day isn’t all that positive. Over this period, TRX has faced a slight correction, falling from its 24-hour high of $0.1705 to a price of $0.1684 at the time of writing. While TRX’s price has seen an uptick, its daily trading volume seems to be recording an opposite trend. In the past few days, this metric has decreased from over $600 million seen last weekend to below $500 million. Featured image created with DALL-E, Chart from TradingView

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