Tron Blockchain Records Major Milestone in Total Transfer Value September 1, 2022 September 1, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 1, 2022 by Kelly Cromley

Tron Blockchain Records Major Milestone in Total Transfer Value

Tron continues to be among the most favored blockchains in the cryptocurrency market due to its fast transaction processing capability and cheap transaction fees. As an open-source blockchain with integrated smart contract capability, the Tron blockchain is comparable to its rivals. Recent evidence suggests that Tron has reached a fresh landmark, as the blockchain’s total transfer value has surpassed $5 trillion.

Justin Sun, the founder of Tron, announced the accomplishment on Twitter on Thursday, citing info from TronScan, the primary blockchain explorer for Tron. TronScan reports that the entire transfer value of Tron is presently $5.2 trillion. This number displays the total value of all transactions conducted on the Tron blockchain since its inception. While preparing this report, TronScan data also indicates a 24-hour surge of $7.9 billion in transfer value.

In the last 24 hours, a further 128,336 accounts seem to have been added to the Tron blockchain. This takes the overall count of accounts to 109 million, a staggering amount. In addition, the prevailing total number of transactions on the blockchain is more than 3.7 billion, with over 4 million occurring in the last 24 hours alone.

Ever since its debut, the development of the Tron blockchain has been phenomenal. Tron stands second in the list of blockchains ranked based on total value locked (TVL), with a TVL of $5.8 billion. The platform follows Ethereum, which has a TVL of $34.25 billion.

Tron has 9.73% of the total TVL of all blockchains, surpassing Binance Smart Chain, Solana, and Arbitrium, amongst many others. Many of Tron’s market covenants are responsible for its significant accomplishment with respect to total value locked. Protocols like JustLend, SUN, JustStables, and SocialSwap reside on Tron.

In addition to its achievements in the blockchain business, Tron looks to be the most environment-conscious chain. Tron is ranked as the most power-efficient blockchain, according to Crypto Carbon Ratings Institute (CCRI) study, as originally reported by TheCryptoBasic.

Based on a study by the CCRI, Tron’s yearly energy use is a paltry 162,868 kWh. This amount is around 99 percent lower than Bitcoin’s annual energy use of roughly 83 million kWh.

TRX, the native cryptocurrency of the Tron network, appears to be maintaining its own among these triumphs. According to CoinMarketCap statistics, TRX keeps its spot as the fifteenth biggest cryptocurrency by market capitalization. The current price of the asset is $0.062, representing a modest decrease of 2.1% over the previous 24 hours.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.