In the early hours of Thursday, Justin Sun, the company's founder, announced $5.2 trillion in transfers on Twitter. This indicates that the total conversion value on the network You conversion values in the industry.
The data also showed that $7.9 billion in transactions were made on the network. As you can see, there have been approximately 3.7 billion transactions made in the last 24 hours, with 4.7 million transactions made on the chain in the last 24 hours.
It is important to note that the network started in 2018 and has grown a lot since then. After four years, the network has more than 109 million accounts.
Even though it only supports ten protocols, it is still the second-largest blockchain in terms of TVL Total Value Locked, with a value of $5.72 billion at the time of writing. This puts it ahead of Binance Smart Chain, Avalanche, Polygon, and Solana.
Tron's energy consumption rate is lower than that of Bitcoin's, making it a PoS proof-of-stake system. This is because new data show that Tron is the most energy efficient blockchain in the cryptocurrency ecosystem.
On the other hand, according to a report by the Crypto Carbon Ratings Institute (CCRI) that looked at how much energy was used by various blockchains, it uses the least amount of energy.
The average annual energy consumption, according to the report, is equivalent to that of 15 American households. With an annual consumption rate of 162,868 kWh, the energy consumption is 99 percent lower than Bitcoin.
The average amount of energy used by Bitcoin each year is 83 million kWh.
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