TRON Hits Record Daily Transactions and Fee Revenue in October Surge

TRON network activity soared in October, reaching 10.4 million daily transactions on October 24 and generating $207 million in fees. Stablecoin usage and increased mid-range transactions fueled the growth, solidifying TRON position as a leading blockchain for altcoin transactions.

In a record-breaking month, TRON (TRX) achieved new milestones in daily transactions and fee revenue, cementing its position as a major player in blockchain networks. October saw an 8.15% month-over-month increase in transaction volume, reaching a peak of 10.4 million transactions on October 24. Overall, TRON has processed over 296 million accounts, with more than 2.1 million active daily accounts.

The increased activity has not been affected by a slowdown in meme token launches on the network. Instead, TRON’s growth is largely attributed to stablecoin transactions, particularly Tether (USDT), which reached new heights in turnover, with most transactions occurring in the $1,000 to $100,000 range.

According to CryptoQuant, TRON currently processes 43% of all altcoin transactions, marking a significant shift as other altcoin networks remain steady or decline in activity. Despite skepticism around some aspects of its transaction volume, TRON continues to gain traction due to the stability and efficiency of its platform for decentralized applications (dApps), games, and financial services.

The surge in network traffic resulted in October’s fee revenue totaling $207 million, the second-highest in TRON’s history, only surpassed by August. Founder Justin Sun noted TRON’s strong earnings, which stood at $23.94 million after validator incentives and payouts. The increased fees have also boosted TRX’s price stability, keeping it above the $0.15 mark with trading volumes exceeding $400 million in the last two weeks.

TRON’s total value locked (TVL) stands at $6.78 billion, and with a market cap of around $14 billion, it is considered by analysts to be a moderately undervalued network. TRON’s focus on stablecoin transactions has bolstered its utility, positioning it for sustained growth in the coming months as stablecoin demand remains high.

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