- Justin Sun has revealed plans to eliminate transaction fees on the TRON network.
- TRON network earned over $2 billion in transaction fees in 2024.
- Growing transaction fees coincided with the crypto market’s bullish trend.
TRON founder Justin Sun has revealed the project’s plans to eliminate transaction fees from its platform. In a recent post on X, Sun noted that the TRON development teams are working toward achieving this goal, targeting zero-fee stablecoin transaction experience for users.
This move would be a significant departure from the norm, considering TRON’s record in transaction fees in the past year. A recent CoinGecko report shows that the TRON network earned over $2 billion in transaction fees in 2024, making it the second-highest-earning blockchain network of the year. Only Ethereum accumulated more fees than TRON last year.
Related: TRON’s Transaction Fees to be Cut in Half, Boosting Meme Coin Activity
A closer observation of the trading fees accumulation pattern on TRON reveals a steady growth since the beginning of 2023. TRON network’s transaction fee accumulation in January 2023 was $38.36 million. That value grew steadily over two years to reach a significantly prominent figure of $342.54 million in November 2024. It is worth noting that the growing accumulation of trading fees on the TRON network coincides with an increasing demand for Tether (USDT), the TRON network’s stablecoin.
USDT remains one of the most sought-after stablecoins in the cryptocurrency industry, especially in the current bullish market. Most traders and investors use USDT as a gateway into the crypto market and a safety net against market volatility.
Related: The $6.9 Billion Question: Which Blockchains Lead in Fees?
CoinGecko’s data show the USDT fee accumulation experienced its steepest rise between September and November 2024, surging from $198.57 million to $342.54 million in three months. That coincided with one of the most bullish seasons for the crypto market in the past few years.
Although Sun focused on the TRON teams’ efforts to achieve zero-fee stablecoin transactions, some network users are concerned about other technical issues. One user advocated removing the password function from the TRONlink app to make swapping easier. According to the user, many people lack the time or forget their passwords during swaps.
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