Quick take:
- The number of daily active Tron wallets hit an all-time high in November
- According to DappRadar, this figure exceeded 150k
- Tron’s total transaction volume in November was $578 million, a 13% decrease from October
- High-risk Dapps are a major contributor to Tron’s transaction volume
The blockchain network of Tron (TRX) experienced all-time highs in terms of daily active wallets. According to DappRadar’s November Industry Report, Tron exceeded 150,000 daily active wallets in the month of November.
This was an increment of 75% from the previous month with a majority of wallets interacting with DApps in the high-risk category. The report went on to highlight the following two Dapps as the reason for the increase.
The dapps behind such tremendous growth were Tronchain and TronHero. These two dapps generated a minimum of 30,000 daily active wallets each respectively in November.
DeFi Exit Scams Hurt the Tron Ecosystem
Also in November, the Tron ecosystem was also affected by two exit scams that had a detrimental impact on the daily active wallets.
After the exit scam of SharkTron and SharkDeFi within TRON’s DeFi ecosystem, the daily active wallets dropped by 75% in November compared to October 2020. This still proves that the DeFi ecosystem is very experimental and risky. On the other hand, JustSwap performed steadily and stands with 1,753 daily active wallets in November.
Transaction Volume Dropped by 13% Compared to October
A total of $578 million was transacted on the Tron (TRX) network in the month of November. This was a 13% drop from the previous month’s value.
Exchanges, High-Risk, Gambling DApps, Biggest Contributors to Tron’s Transaction Volume
Overall, the report by DappRadar concluded that the following categories of Dapp’s were at the core of Tron’s transaction volume.
Exchanges, High-Risk, and Gambling are the biggest contributors to TRON’s transaction volume. Dapps like JustSwap, BeeHive Fast, Tronchain, and WINk generated a combined volume of $385 million which accounts for 72% of total transaction volume.