TRON Surpasses $5 trillion in Total Transfer Value

Total Transfer Value On TRON Surpasses $5 trillion.

Tron remains one of the most sought-after blockchains in the crypto industry, as it promises high throughput and low fees. Being an open-source chain with built-in smart contract functionality, the Tron blockchain is right up there with its competitors. Recently, Tron appears to have hit a new milestone, as the total transfer value of the network surpasses $5 trillion.

Founder of Tron, Justin Sun, disclosed the feat on Twitter Thursday, taking data from TronScan – the official explorer of the Tron blockchain. According to TronScan, the total transfer value of Tron currently sits at $5.2 trillion. This metric indicates the worth of all the transfers carried out on the Tron chain from birth to date. The data from TronScan also shows a 24-hour increase of $7.9 billion in transfer value as of press time.

Total transfer Value on #TRON has surpassed $5 trillion. It is the power of blockchain. pic.twitter.com/96AIgg67j1

— H.E. Justin Sun??? (@justinsuntron) September 1, 2022

Additionally, there appears to be an addition of 128,336 accounts to the Tron blockchain in the past 24 hours. This brings the total number of accounts to a whopping 109 million. Furthermore, the total transactions carried out on the chain is currently 3.7 billion, with over 4 million transactions in the past 24 hours.

The Tron blockchain has seen magnificent growth since its inception. With a total value locked (TVL) of $5.7 billion, Tron is the second largest blockchain by TVL. The network is only second to Ethereum, which boasts a TVL of $34.25 billion at the time of reporting. 

Tron surpasses Binance Smart Chain, Solana, and Arbitrium, among others, making up 9.73% of the TVL of all chains. Tron’s remarkable accomplishment in terms of total value locked can be attributed to its several market protocols. Tron is home to protocols such as JustLend, SUN, JustStables, and SocialSwap.

Tron is the most energy-efficient blockchain.

Besides its feats in the blockchain industry, Tron appears to be the most friendly chain to the environment. TheCryptoBasic previously reported that Tron emerged as the most energy-efficient blockchain, per Crypto Carbon Ratings Institute (CCRI) research. 

According to the CCRI report, Tron’s annual energy consumption rate sits at a meager 162,868 kWh. This value is about 99% less than Bitcoin’s yearly consumption rate of over 83 million kWh.

Amidst these accomplishments, TRX – the native token of the Tron blockchain – seems to be holding its own in the markets. TRX retains its position as the 15th largest crypto-asset by market cap, per data from CoinMarketCap. The asset currently trades at $0.062, with a slight decline of 2.1% in the past 24 hours. 

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