Solana
Tron vs. Solana: How TRX’s 2 million daily users compare to SOL’s metrics
- Tron (TRX) beats Solana (SOL) in terms of daily active users, showing a 50% increase, while SOL lags behind with less than 1 million daily active addresses.
- Despite Tron’s higher total value locked (TVL), Solana recovers faster in TVL trends, with SOL exhibiting more pronounced uptrends.
The Tron (TRX) network recently surpassed Solana (SOL) in terms of daily active addresses, marking a significant milestone in the current competition between blockchain platforms. Coin98 Analysis data reveals that Tron Dao has become the platform with the highest number of daily active users, with over 2.4 million addresses, representing a remarkable 50% increase from the previous month. In contrast, despite its notable NFT activities, Solana ranked fifth with a daily active user count of less than 1 million.
The analysis indicates that Tron (TRX) has recently trended more favorably than Solana (SOL) in terms of daily active addresses. While TRX saw a notable increase In its daily active user base, SOL struggled to compete, recording a figure exceeding 854,000.
Solana Shows Stronger TVL Recovery
Although Tron enjoys a larger total value locked (TVL) than Solana, recent data from DefiLlama suggests that Solana has a more favorable TVL recovery trend. With TRX’s TVL nearly doubling that of SOL’s at $8.3 billion and $4.3 billion respectively, Solana has shown resilience in its TVL trend, recovering more quickly from recent downtrends.
Two notable projects within the Tron DeFi space, Just Cryptos and JustLend DAO, contributed significantly to this achievement. Just Cryptos has a TVL of $7.1 billion, while JustLend DAO, a lending and staking platform, secured $6.4 billion in TVL. Both projects have seen remarkable growth, highlighting the dynamism of Tron’s DeFi landscape.
Despite a slight decline in April, TRON’s TVL is still near the $10 billion high reached in March. In comparison, Solana is down more than 40% from its peak. This shows its increase since TRON ranked sixth in January 2022. While both platforms saw sharp declines in April, SOL’s TVL showed a more pronounced upward trend than TRX, which continued to face persistent downward trends.
Contrasting price trends
An analysis of price developments of Solana (SOL) and Tron (TRX) over the past six days reveals distinct trends. TRX price has shown consecutive uptrends since May 7, experiencing only a slight decline on May 11 before resuming its upward trajectory. Starting from around $0.120, TRX price rose to $0.126 during this period, reflecting an increase of 0.71%.
Meanwhile, SOL saw consecutive declines on May 7 and 8, resulting in a loss of over 7% in its value, with its price dropping to around $142. However, a significant rebound of over 7% occurred on May 9, bringing its price down to around $152. Despite subsequent declines, with SOL trading at around $147 at the time of writing, representing an increase of 2%, its price trend remains distinct from the upward movement of TRX.
It should be noted that Solana benefits from a higher level of decentralization than TRON, which improves its reliability and potentially strengthens security measures. Both platforms support self-custody, reducing reliance on central entities for security.