In 2024, the Tron network experienced significant changes due to DeFi activities and increased meme coin generation. The decentralized exchange SunSwap played a key role in these shifts.
Current Trends on Tron Network
In 2024, the Tron network remained heavily influenced by USDT, whose supply in the network increased from $48 billion to $62 billion. USDT transfer volume rose to $576 billion, with monthly transfers reaching 62 million. USDT-related activity accounted for 99% of token transactions.
DeFi Growth and SunSwap's Role
In light of the changes on the Tron network, the decentralized exchange SunSwap emerged as a leader in the DeFi space. By August 2024, monthly transaction volumes on SunSwap reached 4 million, with 97% involving WTRX. Total swap transactions from August to December rose to 8.3 million, indicating growing interest in DeFi. The launch of the meme coin generator SunPump contributed to the creation of 94,000 new tokens and an increase in transaction volumes.
TRX Price Dynamics
TRX's recovery last year led to its return to the 10th spot in market capitalization. However, market corrections pushed the price down to $0.225, nearly 50% below the recent all-time high of $0.43.
In 2024, the Tron network underwent significant transformations driven by DeFi and new SunSwap initiatives. Despite this, TRX prices struggled to hold up amidst market fluctuations.
