Tron Energy Needs Rise 100% In 3 Months: New All-Time High Incoming?
25 Outubro 2024 - 1:00AM
NEWSBTC
Tron is now in the top 10 blockchains by market cap, flipping
Toncoin and Cardano. While there were initial doubts about the
network dying a natural death due to the then “superior” competitor
Ethereum in the first few years, the smart contracts platform has
surpassed expectations. Tron Energy Demand Doubles In 3 Months At
spot rates, is TRX likely to print fresh all-time highs, and the
mainnet is also thriving. According to IntoTheBlock, the Tron
energy requirements have expanded 100% in the past three months.
Related Reading: $200,000 Bitcoin In 2025? $791 Billion Asset
Manager Calls It ‘Conservative’ Experts say the rapid increase in
Tron energy indicates growing network activity and rapid adoption.
Like Ethereum and other modern chains, Tron is energy efficient and
relies on validators for transaction processing. However, in Tron’s
case, energy is useful when executing smart contracts on the
mainnet. As more people deploy meme coins or launch DeFi dapps, the
mainnet’s “fuel” demand also increases. Rising resource needs push
Tron energy to fresh levels. By how Tron is designed, more energy
is needed during periods of high demand to prevent gas fees from
spiking in case transactions are congested. That energy
has been rising in the past few months is not surprising. Not only
does Tron boast of a thriving DeFi ecosystem, but it also has a
vibrant meme coin scene. Ecosystem Boom Driven By Meme Coins: TRX
Priming For New All-Time Highs? DeFiLlama shows that all Tron DeFi
dapps manage over $7 billion of assets. On the other hand, the
recent launch of SunPump, a meme coin launchpad in August, has seen
over 91,000 meme coins deploy on the network. Looking at Dune, over
1,700 tokens have been listed on Sunswap. Related Reading: Bitcoin
Price Retests Bullish Channel At $65,000, Analyst Reveals What’s
Next Coincidentally, the spike came with the activation of SunPump
in August. As of October 24, SunPump has helped Tron generate over
$5.4 million in revenue, looking at Dune data. Others came from
smart contract deployments via gaming, DeFi, and other diverse
dapps on the platform. TRX is trading at around October 2024 highs
at press time, defying gravity. Interestingly, despite the momentum
challenges Ethereum faces, TRX, on the other hand, is less than 4%
away from all-time highs. If bulls build on October 24 gains, the
coin may easily break August highs, printing a new all-time high in
Q4 2024. Feature image from DALLE, chart from TradingView
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