The number of Daily Active Addresses (DAAs) on the Tron Network has seen considerable growth over the past month, jumping above the 2 million threshold.
According to data from the crypto analytics platform IntoTheBlock (ITB), the daily active addresses moved from 1.38 million on February 12 when the price of TRX was $0.1247 to 2.04 million on March 11.
In addition to the 55% increase recorded in the DAA, Tron has witnessed notable growth in other key metrics that define its network strength.
Encompassing Tron Network Growth
The IntoTheBlock data shows the daily active addresses growth was not sudden, but saw a climb as sentiment soared over the past month.
From the 1.38 million addresses recorded on February 12, the DAA jumped as high as 2.06 million before finally settling at 2.06 million this week.
The number of daily active @trondao addresses has been growing for the past month, increasing by 55% from ~1.3 million to over 2 million!
🔗https://t.co/ZeGAeUWze2 pic.twitter.com/Lp8zz8kp9k— IntoTheBlock (@intotheblock) March 13, 2024
The growth of new addresses also recorded a massive uptick, soaring from 175,620 as of February 12 to 246,770 on March 1 before finally settling at 234,540 as of March 11.
Notably, the Tron Network’s growth is complementary, as showcased by the decline in the number of addresses with zero balances.
Data further shows a record of 189,100 zero balance addresses on February 12, a figure that dropped to 141,820 on March 11, depicting more adoption across the board.
A major highlight of the Tron Network’s growth is the total address count which tops 218 million as of March 11, up from the 212 million recorded on February 12.
Tron Profitability Showcase
According to the ITB data and a previous report from The Crypto Basic, Tron has seen an impressive profitability boost in recent times. The current figure pegs the profitability at 89.46% with 107.85 addresses now seeing gains.
While 7.82 million addresses or 6.49% of the total are in loss or “Out of the Money,” the data pegs addresses at break-even point at 4.88 million or 4.05% of the total.
Tron has retained its spot among the top 15 most capitalized assets. However, its price and market cap are down 1.09% to $0.1301 and $11,434,024,984 respectively.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
