As Bitcoin (BTC) continues its bullish rebound, Tron (TRX) has emerged as a standout performer in the layer-one (L1) blockchain space. With its recent price surge, TRX is capturing significant attention in the crypto market. On Monday, TRX was trading around $0.165, reflecting a 4% increase over the past 24 hours. Most notably, the coin has seen a dramatic 22% rally against the US dollar in the past week, revisiting its all-time high (ATH) from 2021.
Tron Network Outshines Competitors
The latest price movement has catapulted Tron to the forefront of large-cap altcoins, surpassing Cardano (ADA) in market capitalization. As of this report, TRX boasts a market cap of approximately $14.36 billion, edging close to Toncoin’s $14.4 billion valuation. In contrast, Cardano’s market cap lingers at about $13.6 billion, reflecting its recent struggles with adoption.
Tron’s performance is further bolstered by its impressive total value locked (TVL) of $8.74 billion and a stablecoin market cap of $60 billion. The network generates a daily revenue of $2.3 million with an average trading volume of $237 million. Comparatively, Solana (SOL) holds a TVL of $5.5 billion and a stablecoin market cap of $4 billion, yet its daily revenue stands at a modest $234,000 from a trading volume of approximately $724 million.
Meme Coin Mania
In addition to its robust financial metrics, Tron is gaining traction in the meme coin sector. The Tron Foundation and Sunpump network have recently committed $10 million to boost meme coin activity on the Tron blockchain. This investment is fueling a surge in meme coin popularity, with the Tron network’s meme coin market cap reaching $327 million and a daily average traded volume of $119 million.
Also Read: Cardano Surpasses Tron – ADA Claims 10th Spot With 4.76% 24-Hour Gain
Leading the meme coin charge are Sundog (SUNDOG), SunWukong (SUNWUKONG), and FoFar (FOFAR), among others. This vibrant ecosystem of meme coins is adding a dynamic layer to Tron’s already impressive growth.
Tron’s recent performance underscores its evolving role as a major player in the blockchain arena. With its strong market capitalization, growing TVL, and increasing meme coin activity, TRX is positioning itself as a formidable contender in the layer-one blockchain space. As the crypto market continues its bullish momentum, Tron is poised to maintain its leading status among large-cap altcoins.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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