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Analyst: Tron Maintains Its Market Position

Aug 23, 2024
  1. Current Positions of Tron and Solana
  2. Analyst's View on Tron’s Prospects
  3. Conclusion on Tron’s Potential

Despite all the excitement around Solana, Australian analyst Miles Deutscher sees potential in Justin Sun's Tron blockchain. It is worth noting that Tron holds the second spot in terms of Total Value Locked (TVL), right after Ethereum, with Solana in third.

Current Positions of Tron and Solana

Tron remains the second-largest blockchain in Total Value Locked (TVL), only behind Ethereum, while Solana is in third place. The Tron blockchain also boasts the highest global circulating supply of stablecoins, accounting for about $60 billion.

Analyst's View on Tron’s Prospects

Analyst Miles Deutscher shared his thoughts on the X platform (formerly Twitter), suggesting that Tron could overtake Solana. Solana has been in the spotlight for its big investments, but Tron's strength as a payments network stands out.

It's also the 2nd largest blockchain for TVL, ahead of Solana (this is a significant point which I will expand on later in this thread).Miles Deutscher

Conclusion on Tron’s Potential

Elaborating on the bullish perspectives on Tron, the analyst pinpointed that the blockchain's mindshare is growing. Analysts highlight that Tron's native token, TRX, and its meme coin, SUNDOG, have significant growth potential in the near future.

Thus, despite significant investments and attention towards Solana, Tron continues to maintain its strong market positions, especially in the areas of payment systems and stablecoins.

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