TRON Hits New High in Transaction Due to Massive Surge in TRX Transfers

• Daily transactions on TRON exceed 8.63 million in a month.
• The transaction was fueled by a 50% surge in TRX transfers.

The prominent blockchain TRON continues to surpass the crypto market and show impressive growth in the middle of challenging market conditions. The network processed 10,935,762 transactions, setting a new record for daily transactions.

Today, TRON founder Justin Sun tweeted on his official account that the blockchain hit a new high in daily transactions. He stated that “this increase isn’t just a measure of quantity but also a testament to the quality and efficiency of our network.”

Despite the crypto winter, #TRON continues to defy expectations, posting impressive growth. The network hit a new record high in daily transactions just yesterday, with a 10,935,762 transactions processed. pic.twitter.com/Unn45CCUvg

— H.E. Justin Sun 孙宇晨 (@justinsuntron) June 1, 2023

That demonstrates the TRON protocol’s growing popularity and wide adoption. Justin also said they aim to double the transaction volume in the year ahead.

However, TRON records over 5.71 billion transactions in total. And the average daily transaction on TRON has been 8.63 million in the last 30 days. Further, the spike in transactions over the past 30 days has been primarily fueled by a 50% surge in TRX transfers, as per TRON SCAN data.

Further, at the time of writing, TRON native cryptocurrency TRX traded at $0.07455 with a 24-hour trading volume of $193 million and a market cap of over $6.72 billion. Currently, TRX is in the neutral stage and near its moving average of $0.76. If the crypto token overtakes the 50 MA, there is a chance of an uptrend, as per Tradingview.

Moreover, Tron recorded $90.04 million in revenue in quarter 1 of 2023. Its total quarterly sales for Q1 2023 were $90.04 million. A rise of 88% from the total quarterly sales of $47.96 million for Q4 2022.