Analysis Company Revealed: “This Altcoin Dominates in Transaction Share”

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Bitcoinsistemi2024/11/03 11:22

By:Mete Demiralp

According to the statement made by the cryptocurrency analysis company CryptoQuant, an altcoin has taken over the dominance.

Cryptocurrency analytics firm CryptoQuant reported a surge in transaction activity for TRON (TRX), taking the lead among major altcoin blockchains. According to the firm, TRON’s total transaction share in altcoin networks reached 43% as of October 30, indicating the growing popularity of the network.

During October, TRON processed 230 million transactions. A particularly significant peak was observed on October 24, when the network processed 10.46 million transactions, a 25% increase compared to its 30-day moving average.

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This resurgence in activity mirrors TRON’s previous performance in 2024, when it frequently led in trading volume. However, there was a period between August 25 and October 5 when TRON’s dominance declined due to increased competition from other networks.

CryptoQuant suggests that TRON’s trading dominance is now back on track and is expected to continue leading the altcoin space.

The firm noted that historical trends support the possibility of TRON maintaining its status as the most popular altchain for transaction processing.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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