The crypto analytics platform CryptoQuant has released a review of the Tron network, highlighting its growth from a Tether (USDT) "powerhouse" to a decentralized finance (DeFi) hub in 2024. The report highlights the diversification of Tron's on-chain activity, with the launch of decentralized applications like SunSwap and SunPump contributing to its growth in the DeFi space. USDT has dominated token transfers on the Tron network, accounting for 95%-99% of daily transfers. In 2024, USDT transfer activity saw significant growth, with the total supply increasing from $48 billion to $62 billion. As USDT transactions spiked, the network's DeFi activity also increased. SunSwap and SunPump became key drivers of economic activity and user engagement on the Tron network. The emergence of other tokens, particularly WTRX, also contributed to Tron's growth. Overall, this growth led to a spike in Tron's monthly network fees.



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