• Tron widened the gulf with the long-dominant BNB Chain.
• Tron’s stablecoin market cap recorded a 30% YTD growth rate.

Tron [TRX] stamped its authority in the crypto space as it established a significant lead over other major blockchains in the ecosystem. Data from a blockchain analytics platform showed that Tron took the crown in terms of user base.

#Tron, #Bitcoin and #BNBChain maintain their positions in the top 3, with Tron leading with an impressive 1.23M daily active users pic.twitter.com/neC8g9rk48

— Coin98 Analytics (@Coin98Analytics) September 10, 2023

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Tron celebrates increased on-chain activity

Tron was found to have 1.23 million daily active users, nearly 23% more than the second-best Bitcoin [BTC]. The Justin Sun-founded chain also widened the gulf with BNB Chain, which for long dominated the list.

Apart from the phenomenal increase in its user base, other on-chain indications were also positive. According to Artemis data, the proof-of-stake (PoS) network maintained its position as the second-largest chain in terms of transaction count, trailing only Solana [SOL]. In the last 24 hours, Tron recorded about 4.44 million transactions.

Tron’s stablecoin push

The uptick in network traffic was powered by stablecoin transfers as Tron registered a significant jump in its stablecoin circulating supply year-to-date (YTD), according to DeFiLlama.

At the time of publication, Tron’s stablecoin

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Author: Aniket Verma

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