TRON tops 413 million accounts as DeFi activity weakens

TRONSCAN reported the milestone on November 8, and founder Justin Sun highlighted it in an X post on November 10. The explorer recorded more than 413.5 million accounts by that date, including about 173,000 added in the previous 24 hours. The total counts accounts created since the network launched, not individual users; one person or organization can control multiple addresses.

Daily active accounts topped 5 million on November 5 and 6, then fell to 4.45 million on November 7 before recovering to 4.84 million the next day. TRONSCAN counts accounts with transfer records during the period, including wallets and contracts. The network averaged 11.83 million transactions per day over 30 days, up 2.51% from the preceding period. On November 9, it processed 12.99 million transactions, among them about 4.79 million TRX transfers and 2.3 million USDT transfers. Resource delegation and reclamation accounted for 3.66 million, or 28.15%, of that day’s total.

USDT transfers averaged about $24.86 billion a day over the month, up 2.4% from the previous period. Accounts transferring USDT averaged roughly 1.05 million daily, a rise of 1.8%. In the third quarter, Token Terminal put TRON’s average USDT supply at $90.75 billion, ahead of Ethereum’s $87.73 billion. It recorded about $2.18 trillion in stablecoin transfers for the quarter; separate Nansen research estimated settlement at $2.21 trillion, up 5.1% from the prior quarter.

DeFi figures moved in the opposite direction. DefiLlama put TRON’s total value locked at about $4.96 billion on November 10, down from roughly $5.58 billion on October 12—an approximately 11% decline. The network’s stablecoin market capitalization was about $94.16 billion, with USDT making up 97.9%. Decentralized exchange volume over seven days fell 73.68% week over week to about $389.46 million. Third-quarter transaction fees were approximately $701.4 million, down 4% from the previous quarter; Token Terminal put the average transaction fee at about $0.64, while the transaction count remained above 1 billion.