TRON Update: TRON Founder Justin Sun Wins Landmark Case and Circulating Supply of TRC-20 USDT Exceeds 60B!

Hello TRONics!

We're excited to bring you the latest updates and achievements from the TRON ecosystem. Here are the key highlights and developments:

TRON Founder Justin Sun Wins Landmark Case in the People’s Court of China

TRON Founder Justin Sun recently joined Frank Chaparro on The Scoop podcast to discuss his legal victory over a landmark defamation suit filed against the Chongqing Business Media Group (“the Media”). Per court order, the Media has removed all of its false contents and issued a formal statement of apology to Sun, who has long been a target of media misrepresentations. The Media acknowledged in the statement that it had published false and defaming contents without fact-check or evidence, severely damaging Sun’s reputation. 

For Sun, the victory serves as a strong rebuttal to numerous widespread rumors and restores his personal reputation. The apology came after a two-year legal battle. Following hundreds of hours of fact-finding and a thorough trial, the Chongqing Yubei District Court ruled in the first instance that the Media broke the law and defamed Sun by publishing entirely unverified media contents. The court reviewed extensive evidence and documentation from both sides before arriving at the verdict.

The verdict sends a strong signal to all media outlets: citing unverified sources and spreading unsubstantiated information is likely breaking the law and tarnishing their own reputations. While pursuing newsworthy content is the common goal, journalism must adhere to professional ethics by ensuring facts are authentic and accurate.

To listen to the full episode, check out the X post from The Block Podcasts here.

The Circulating Supply of TRON-Based USDT Exceeds 60 Billion!

The circulating supply of TRON-based USDT has surpassed 60 billion! This milestone reflects TRON's continuous growth, driven by its scalable infrastructure and low transaction fees. The robust capabilities of the TRON blockchain make it a preferred choice for stablecoin transactions, further solidifying its position in the blockchain industry.

For real-time updates on the TRON network metrics, check out TRONSCAN on X. 

Comparative Analysis of TRON, Arbitrum, and Base by Token Terminal

Token Terminal recently posted a comparative analysis of the TRON network, benchmarking its activity against two chains with rising network activity, Arbitrum and Base. This analysis provides valuable insights into TRON's performance relative to these increasingly popular chains.

The analysis highlighted TRON's superior performance in several key metrics during Q2 2024. TRON averaged 13.5 million monthly active users, significantly higher than Arbitrum's 6.5 million and Base's 4.3 million. Notably, all three blockchains have seen growth in their monthly active users since the beginning of the year.

In terms of transaction count, TRON also led the pack, generating approximately 569 million transactions in Q2, surpassing the combined total of Arbitrum and Base, which stood at around 450 million. 

The report also highlighted that in Q2 alone, there were approximately 180 million USDT transactions on TRON, translating to about 2 million transactions per day, with a total transfer volume of approximately $1.2 trillion, or $13.3 billion per day.

Check out the full analysis in Token Terminal’s X post here.

TRON-based USDT is Mainly Used by Smaller or Retail Users for Daily Transactions as Highlighted by CryptoQuant

In a recent X post, CryptoQuant highlights that USDT on TRON is primarily used by smaller users for daily transactions. According to on-chain data, most USDT holders are classified as "retail" or small holders, who collectively account for nearly one-third of all USDT transactions on the TRON network. 

The report also points out that there are 52.6 million holders with balances under $1,000, a figure that grew even during the 2022 bear market. This underscores TRON's critical role in supporting frequent, low-value transactions for everyday use, emphasizing its importance in providing accessible and practical financial solutions for a wide range of users.

For more insights by CryptoQuant, check out their full X post here.

Daily Active Addresses on TRON by Satoshi Club

Satoshi Club has noted that over the past three months, TRON has consistently maintained the highest number of daily active addresses, surpassing all other Layer 1 blockchain networks. This consistent activity highlights the robust user engagement and the growing popularity of the TRON ecosystem.

View Satoshi Club’s full X post here.

OMNIA Protocol Integrates TRON

This integration brings numerous benefits, including enhanced privacy and security for users, increased interoperability, and robust solutions for developers. The integration will strengthen both ecosystems, attract more users and developers, and encourage the creation of innovative dApps and services on the TRON network.

OMNIA is a specialized RPC provider for DeFi traders, developed by cybersecurity, privacy and trading experts. For more details about the integration, check out OMNIA Protocol’s X post here.

HackaTRON Season 7 Commences on July 25, Google Cloud Joins as a Diamond Sponsor

TRON DAO, along with co-hosts HTX DAO, BTTC, and JustLend DAO, proudly announces the launch of HackaTRON Season 7, set to run from July 25 to October 22. 

Join us for the HackaTRON Season 7 Launch Party on July 25th at The Vū Nashville, located at the iconic Movie Studio. The TRON Immersive Night will mark the commencement of HackaTRON Season 7, plunging attendees into the vibrant, cyberpunk world of TRON. This unforgettable evening will feature live music, a DJ, and three hours of complimentary drinks and light bites. Guests will also have the exclusive opportunity to explore the TRON merch shop. Special thanks to the HackaTRON Season 7 sponsors for making this event possible.

RSVP here - TRON Immersive Night @BTC2024: https://lu.ma/egpz8lzk 

That concludes our update for this week! Thank you for reading and stay tuned for further updates as we continue to navigate and shape the future of blockchain technology together.

Warm regards,

The TRON DAO Team