Tron Founder Celebrates 300 Million Addresses as TRX Crosses $0.25

Tron (TRX) founder Justin Sun recently took to X (formerly Twitter) to celebrate a major milestone for his digital currency network. The crypto entrepreneur claimed that the programmable blockchain now boasts massive accounts, totaling 300 million worldwide. This figure dwarfs the 1 billion+ figure commanded by Bitcoin, but it is only slightly less than Ethereum’s 321 million public addresses. It is a massive achievement by the Tron Foundation, considering its standing in the charts.

In the same tweet, Sun revealed that the Total Value Locked (TVL) in the crypto’s staking and DeFi ecosystem is nearing record highs and hovering just below $20 billion. At the same time, the total transfer volume, another on-chain statistic, is close to $17 trillion. These figures are being used by Sun to drum up support for his altcoin, and the price has since surpassed the resistance at around $0.25. However, the move above this figure has been less than convincing, and the crypto could face some pressure going into the first day of the new week. 

Does Tron Boast 300 Million Users?

Despite Sun’s claim of hundreds of millions of users, on further on-chain investigation, it was found out by the ZyCrypto team that the founder is conflating the number of users with the number of blockchain addresses created on the network. This is often used by promoters looking to get their cryptocurrency into discussion circles on social media. The reality is that this metric is far from a reliable statistic when calculating the number of users of a blockchain network because a single user can create multiple accounts, as they have done for all major blockchains.

According to Dune Analytics, this is the graph of active addresses on the TRX blockchain:

Image Source: Dune Analytics

Currently, the number of active daily addresses on the Tron network hovers around 13.6 million, which is a healthy figure but only a fraction of the figure claimed by Sun. Many users also maintain multiple active addresses, so the actual figure is likely to be even lower. There is no concrete way of knowing the exact number of unique individual users using TRX, but it is expected to be in several million. 

Is Tron back?

Tron has had a strong last two to three quarters as it managed to capture the attention of the market after several years of relative hiatus. The cryptocurrency was launched during the first altcoin boom of 2017-2018 and experienced massive gains before capitulating much of them in a major crash in 2018 that wiped out more than 90% of its value. TRX then had a lacklustre 2020-2021 bull market, fading away in the coin market charts.

However, 2024 saw the once-fancied digital cryptocurrency awaken from its deep slumber and post a new All-Time High (ATH) of $0.45 in the buildup of the calendar year. While TRX has lost around 45% of its value ever since amid even deeper short-term plunges, the altcoin could be in for a major end to 2025 if the larger bull market resumes at some point in 2025.