TRX Breaks New All-Time High as Holders Surge Past 120 Million

Tron has attracted a lot of buzz in the past 24 hours, with its token rising over 20%. The token hit a new all-time high for the first time in seven years

Tron’s native token, TRX, soared to a new all-time high on Wednesday, surging by over 20% in the past 24 hours.

TRX soared to a new all-time high for the first time in seven years, hitting $0.43 before seeing a correction to trade at $0.34 at press time. Notably, TRX has now gained over 100% in the past month.

CoinGecko data shows TRX hitting a new all-time high on Wednesday

TRX's recent price rally may be attributed to increased activity on the Tron blockchain over the past few days.

Tron's protocol daily revenue hit a new all-time high of $21.6 million on Tuesday, showing a 98% increase, according to Lookonchain data.

Tron Network(@trondao) hit a new daily revenue record of $21.66M yesterday, representing a 98% increase compared to the previous day!https://t.co/Q3YRJa7JuB pic.twitter.com/AHD1MPfoz6

Moreover, TRONSCAN, a block explorer for the Tron blockchain, revealed that Tron's total transactions exceeded 9 billion with total accounts rising to 276 million.

One key factor driving TRX's price increase is Tron's stablecoin dominance in emerging markets. Data from Messari Crypto shows that Tron's monthly stablecoin transfer volume surpassed $0.5 trillion in November — a $150 billion YoY increase — outpacing blockchains like Base and Solana.

Tron Stablecoin Volume ( Messari)

USDT supply on the blockchain also rose 25% year-to-date, indicating the blockchain's strong presence with the stablecoin. Notably, the Ethereum blockchain recently flipped Tron in USDT supply for the first time in two years.

According to IntoTheBlock data, around 30% of the blockchain's stablecoin transactions come from wallets holding less than $1,000 in crypto. IntoTheBlock also reports that the total number of addresses with crypto holdings has surpassed 120 million users. This suggests that Tron is seeing increased usage among retailers.

Tron Total Addresses with Balance ( IntoTheBlock)

In other Tron-related news, co-founder Justin Sun hinted at the possible launch of Ripple's new RLUSD stablecoin on the Tron blockchain.