- Average active daily addresses increased from 2.6 million in Q3 to 3.1 million in Q4,
- Tron made $47.9 million in the last quarter of 2022, a 25% increase compared to Q3,
- Average transactions per second spiked from 62 in Q3 to 76 in Q4
Decentralized Blockchain-based operating system, Tron made $47.9 million in Q4 2022, a 25% increase compared to Q3, according to the Messari report.
As per the report, Tron also witnessed a new user surge and network activity growth. Average active daily addresses increased from 2.6 million in Q3 to 3.1 million in Q4, while average daily transactions stood at 6.5 million (compared to 5.3 million during the previous time period). Average transactions per second spiked from 62 in Q3 to 76 in Q4.
Justin-Sun’s platform further witnessed a surge of average active daily addresses and average daily transactions. Reportedly, Tron also burned more than 800 million worth of TRX out of its 92 billion in circulating supply during Q4, nearly 40% more than in Q3.
Industry experts believe that the surge in user activity in Q4 might have been triggered by the FTX and Tron agreement in November 2022. The agreement included allowing holders of TRX and some other crypto tokens to swap assets from FTX to external wallets.
Tether(USDT) played a huge role in Tron’s performance in Q4. According to Messari, USDT’s supremacy fell to 87% in Q3, triggered by increased transactions with USDC. The report notes that, however, by 2022 end USDT’s dominance climbed back to 94%.
USDD-Tron’s official stablecoin also had a good run in Q4. Despite the supply of USDD in Q4 remaining the same as the previous quarter, the number of wallets owning portions of the stablecoin increased by 8% in Q4. USDD holders spiked to 130,000 by 2022 end. As per reports, the average size of holdings fell from $315,000 in May 2022 to less than $10,000 in Q4.
The Messari report also comes amid Tron founder Justin Sun publicly revealing Tron’s expansion plans for 2023. Last month, he said one of his primary targets is to see TRX becoming an official payment method in five different countries by the end of 2023. He went on to even say the world’s most populous country – China – could “eventually” make TRX legal tender.