- Tron remains the second largest blockchain in TVL, while Solana is only in third place.
- The blockchain boasts the highest circulating supply of stablecoins, accounting for about $60 billion.
- Analyst Miles Deutscher remains bullish about Tron, its native token TRX, and its meme coin SUNDOG.
Even with all the excitement around Solana, Aussie analyst Miles Deutscher sees potential in Justin Sun’s Tron blockchain. It is worth noting that Tron holds the second spot in terms of Total Value Locked (TVL), right after Ethereum, with Solana in third.
Deutscher shared his thoughts on the X platform, suggesting Tron could overtake Solana. Solana’s been in the spotlight for its big investments, but Tron’s strength as a payments network stands out – it has the largest global circulating supply of stablecoins at roughly $60 billion.
Elaborating on the bullish perspectives on Tron, the analyst pinpointed that the blockchain’s mindshare is “perpendicular.” He added that it is even about to flip Solana as the third-most blockchain network with the highest mindshare. Additionally, the analyst shed light on the astounding $443 million in fees generated by the platform over the last 3 months, which lies second to Tether.
Deutscher emphasizes Tron’s 7x increase in on-chain volume, which topped 100 million in just the past two days. The recent hike in Tron’s 24-hour revenue adds more intrigue to Deutscher’s analysis. Earlier this week, the blockchain saw its all-time high (ATH) of $3.84 million in 24-hour revenue, driven by Tron’s SunPump launch.
From his analysis, Deutscher suggests a possible upswing for Tron, saying, “Something big is clearly happening on TRON right now.” He compares Tron’s current situation to what boosted Solana’s meme coins earlier this year.
Deutscher sees Tron’s meme coin, SUNDOG, as the main player due to its popularity and leading position. This meme coin reached a $250 million market cap even faster than the well-known PEPE meme coin. Plus, the analyst is optimistic about Tron’s native token, TRX, which he says has “one of the cleanest uptrends in crypto.”
The analyst considers Tron’s meme coin, SUNDOG, as the top dog due to its mindshare and leading status. The meme coin has hit a $250 million market cap even faster than the popular PEPE meme coin. In addition, the analyst remains bullish on the Tron blockchain’s native token, TRX, which has “one of the cleanest uptrends in crypto.”
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