Tron's Addresses Reach 300 Million, TVL Nears $20 Billion

Tron (TRX) founder Justin Sun recently celebrated a significant milestone for his digital currency network, announcing that the programmable blockchain now has 300 million addresses worldwide. This figure, while impressive, is slightly less than Ethereum’s 321 million public addresses and significantly lower than Bitcoin’s over 1 billion addresses. The Tron Foundation’s achievement is notable given the network's standing in the cryptocurrency charts.

In the same announcement, Sun highlighted that the Total Value Locked (TVL) in the crypto’s staking and DeFi ecosystem is nearing record highs, hovering just below $20 billion. Additionally, the total transfer volume, another key on-chain statistic, is close to $17 trillion. These figures are being used by Sun to garner support for his altcoin, and the price of TRX has since surpassed the resistance level of around $0.25. However, the move above this figure has been less than convincing, and the crypto could face some pressure going into the new week.

Despite Sun’s claim of hundreds of millions of users, further on-chain investigation revealed that the founder is conflating the number of users with the number of blockchain addresses created on the network. This metric is often used by promoters to generate discussion and hype on social media. The reality is that this metric is far from a reliable statistic when calculating the number of users of a blockchain network because a single user can create multiple accounts, as is common with all major blockchains.

Currently, the number of active daily addresses on the Tron network hovers around 13.6 million, which is a healthy figure but only a fraction of the figure claimed by Sun. Many users also maintain multiple active addresses, so the actual figure is likely to be even lower. There is no concrete way of knowing the exact number of unique individual users using TRX, but it is expected to be in several million.

Tron has had a strong performance in the last two to three quarters, capturing the attention of the market after several years of relative inactivity. The cryptocurrency was launched during the first altcoin boom of 2017-2018 and experienced massive gains before capitulating much of them in a major crash in 2018 that wiped out more than 90% of its value. TRX then had a lackluster 2020-2021 bull market, fading away in the coin market charts.

However, 2024 saw the once-fancied digital cryptocurrency awaken from its deep slumber and post a new All-Time High (ATH) of $0.45 in the buildup of the calendar year. While TRX has lost around 45% of its value ever since amid even deeper short-term plunges, the altcoin could be in for a major end to 2025 if the larger bull market resumes at some point in 2025.