The Tron network experienced a surge in activity during the first week of June, with address activity reaching levels last seen two years ago. Daily active addresses surpassed 3 million and Friday saw an impressive 4.58 million returning addresses on the network according to DeFiLlama. This growth was fueled by expanding DeFi applications and growing institutional investment. 📈
The Tron network’s stablecoin strategy, attracting more network adoption through its use of stablecoins, is contributing to the surge in activity.
This increased activity translated into a significant spike in transaction volume. Friday saw daily transactions peak at over 11 million, levels not seen since July 2023. This marked a notable return to high transaction volumes after a period of decline.
While the network’s total value locked (TVL) decreased slightly from $6.53 billion on May 31st to $4.86 billion on June 7th, the positive trends in address activity and transactions suggest continued growth for Tron.
On-chain data suggests that the rising activity may continue. While spot outflows were relatively low at around $5 million in the last 24 hours, spot inflows were significantly higher on Saturday.
Despite recent performance, Tron coin still trades at a discount from its previous highs. It has maintained bullish momentum during the week, achieving a new 5-month high of $0.287 on June 10th – suggesting potential for further upside in the near future.