Ethereum has been the benchmark blockchain network for years with many of its rivals aspiring to outperform it. Well, The Tron network has been doing just that in one of the key growth areas.
Tron has reportedly been outperforming Ethereum since 2021 especially in terms of stablecoin transfers.
For example, the total USDT transfers on the Tron network recently hit a new milestone at $22 billion. Meanwhile, the total USDT transfers on the Ethereum network clocked in at $2.6 billion.
While Tron has been outperforming Ethereum in terms of stablecoin transfers, it was still slightly behind in terms of stablecoin dominance.
Nevertheless, the Tron network is the only blockchain that has given Ethereum a run for its money in terms of dominance.
How Did Tron Beat Ethereum in USDT Transfers?
Tron identified early on that stablecoins were the key to rapid growth for blockchain networks.
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Although anyone can hold value on a blockchain in the form of a cryptocurrency is possible, moving that liquidity efficiently requires stablecoins.
This realization allowed Tron to focus heavily on stablecoin partnerships. While Ethereum was still struggling with high gas fees, Tron ensured that gas fees were extremely low and this aided in boosting network adoption.
Ethereum was the most dominant in terms of its share of the USDT stablecoin marketcap. It had a 46.07% share while Tron had a 42.29% share.
The two have also been battling it out in terms of address growth. However, Ethereum has been winning by a narrow margin.
Ethereum addresses with balance recently peaked at 126.01 million, while Tron addresses with balance peaked at 122.91 million.
Which Between TRX and ETH Has More Growth Potential?
Ethereum takes the win in numerous other aspects but there are those that differentiate it especially in terms of ETH demand.
Among them is its robust DeFi ecosystem which contributes a great deal as far as organic demand goes.
Ethereum has been around longer than Tron and this may have provided a massive advantage in terms of adoption. This is evident in its marketcap which hovered around the $394 billion.
Meanwhile, the Tron network was only at a fraction of the marketcap figure as at the time of writing. It had $21.06 billion in marketcap at the time of observation.
Although Tron miles behind Ethereum on multiple fronts, it is worth noting that Tron was the 10th largest crypto network by marketcap.
TRX price action achieved a new ATH in December after months of mostly positive growth. ETH, on the other hand has been underperforming.
One may see this as a sign that ETH has a higher potential upside. Especially since it has a much lower circulating supply than Tron.
However, it already has a much larger marketcap and this may make TRX more attractive.
Meanwhile, TRX has pulled back considerably and could be ready to extend its bullish momentum in 2025. Ultimately, time will tell which one will deliver the most gains.
