- Tron Founder Justin Sun said the in-house developers are working to reduce the network’s gas fees to zero.
- This move, if achieved, can change the dynamics of Tron’s dominance in the stablecoin ecosystem.
Justin Sun, founder of the TRON (TRX) blockchain, hinted at an upcoming TRON update, poised to challenge its competitors. This announcement comes amid other ecosystem developments that have helped ignite positive sentiments for the blockchain.
TRON Focus on Stablecoin Fee Reduction
In a Wednesday’s X post, Justin Sun revealed plans to reduce stablecoin transaction fees for users. He highlighted that TRON developers are already working on reducing these fees to zero. This means users initiating stablecoin transactions on TRON will no longer need to worry about gas fees when the update is complete.
Popular stablecoins operating on the TRON chain include Tether (USDT), Circle’s USD Coin (USDC), and the Tron-based True USD (TUSD). The Tron DAO Reserve has also developed USDD (Decentralized USD) and USDJ (JustStable), an algorithmic stablecoin.
These stablecoins are already well-known for low transactions. For example, USDT and USDC on TRON transaction fees are relatively cheaper than on Ethereum, a rival chain. The low stablecoin transaction fee on TRON makes the blockchain appealing, attracting a growing number of users and developers.
In another post, Sun shared an update from CoinGecko that showed the Ethereum blockchain generated the largest transaction fees in 2024. Ethereum recorded total annual gas fees of $2.48 billion. Tron followed closely with $2.15 billion, while Bitcoin came third, earning $922.89 million.
TRON has effectively carved out a new market niche generating substantial returns. Due to its rapid growth in the stablecoin ecosystem, TRON is now ranked the 10th-largest crypto by market cap.
In addition to supporting stablecoin payments, TRON has made tremendous progress in tokenizing Real-World Assets (RWA). As noted in our earlier post, TRON hosts the RWA protocol, stUSDT, which allows users to stake USDT in designated smart contracts.
TRON’s Recent Challenges and Triumphs
While TRON has made notable strides in the industry, the blockchain has also faced its share of issues. As featured in our recent coverage, security firm AMLBot reported a new vulnerability discovered on Tron wallets. The report revealed attackers exploited about 2,130 TRON swallets in Q4 2024 alone, each holding approximately $31.5 million.
Instead of draining wallets, the attackers secretly gain control and block legitimate transactions, leaving the actual owners unaware. As a result, the victims unintentionally deposited more funds into compromised accounts.
Moving on from the security issues, the TRON DAO announced a strategic partnership with Wintermute. Through this partnership, Wintermute becomes TRX’s official market maker, providing liquidity to centralized and decentralized exchanges.
As of this writing, TRON’s native cryptocurrency, TRX, is up 5% in the past week and is trading at $0.024. The market cap is $21.3 billion, while the 24-hour trading volume increased by 9% to over $1 billion.
