Tron's address count hits all-time high of 95 million, outpacing Cardano and Avalanche. New adoption rate climbs 21% YTD.
The number of addresses on Tron's public blockchain has surpassed 95 million, setting a new record for addresses with a non-zero balance. This milestone was noted by on-chain analytics platform IntoTheBlock. Tron's address count exceeds other major Layer 1 blockchains like Cardano and Avalanche, which have 5 million and 7 million addresses, respectively.
There has been a notable increase in new demand for Tron's network since the beginning of the year. Tron's New Adoption Rate, which measures the daily percentage of new addresses making their first transaction out of all active addresses, has risen by 21% since January 1st. As of February 28th, the network's New Adoption Rate was 12%, indicating that out of the 2 million active addresses, 240,000 were new addresses.
The surge in new demand for Tron has also been reflected in the rise of its decentralized finance (DeFi) total value locked (TVL), which has reached $10 billion according to DefiLlama. This represents a 27% increase since January 1st and an all-time high for Tron's TVL.
The increased user activity has impacted Tron's network fees and revenue, both of which have risen by 20% in the last 30 days. At the time of writing, TRX is trading at $0.14, with a 40% increase in value year-to-date.
Tron's Accumulation/Distribution Line (ADL) confirms sustained demand for the altcoin since the beginning of the year, indicating growth in accumulation by traders and investors. TRX's Relative Strength Index (RSI) and Money Flow Index (MFI) are also positioned significantly above their respective center lines, indicating continued high buying pressure.