TRON Revenue Hits Four-Year Low as $185 Million in Stablecoins Exit

TRON’s native token, TRX, has experienced a significant decline in revenue, hitting a four-year low as approximately $185 million worth of stablecoins exited the network. This outflow comes shortly after TRON reached a record high of $80 billion in total stablecoin supply in June, indicating a shift in user sentiment and preferences. The sudden departure of stablecoins suggests that on-chain participants may now favor other blockchain networks for transactions, reducing TRX’s utility for facilitating these operations.

The impact of this outflow is more pronounced than it initially appears. According to data from Artemis, TRX’s total revenue has dropped to its lowest point in four years. In the past day, total revenue from TRX trades amounted to just $114,000, a steep decline compared to its previous market performance. This decline in revenue is accompanied by a sharp spike in both daily transaction counts and active addresses, with the number of daily transactions surging to 9.4 million, up from 7.5 million the previous day. Similarly, the number of on-chain participants also rose, with Daily Active Addresses climbing to 2.7 million, the highest level recorded since the 6th of June. This spike in activity appears to be tied to the recent stablecoin outflow, a trend that generally reflects bearish sentiment for the network.

Despite the liquidity drain and increased transactional activity, TRX has remained relatively resilient. However, further analysis indicates a high likelihood of a price drop as liquidity continues to exit TRON-based protocols. On-chain data shows a gradual sell-off, with liquidity steadily removed from TRON protocols. As of the time of writing, Total Value Locked (TVL)—a key metric for protocol activity—on DeFiLlama has declined by 0.53% in the past day, falling from $4.878 billion to $4.852 billion. This represents a $26 million outflow. Such outflows reflect weakening investor confidence and suggest that holders are reluctant to keep TRX, fearing potential losses. If TVL continues to fall and stablecoin supply on TRON hits new lows, the broader market sell-off could intensify, pushing TRX even lower.

TRON’s gains have remained modest, with just a 4.43% increase over the past month and a 0.78% rise in the last 24 hours. This slight market movement is tied to a surge in on-chain activity, suggesting that users are fleeing the network and have limited use for TRX. The rise in active participants likely signals renewed sell pressure on TRX, as the market sell-off has intensified with more investors becoming active on-chain. The outflow of stablecoins and the decline in revenue indicate that TRON may be facing a deeper dump, with users and investors losing confidence in the network’s ability to maintain its value.