As the TRX market cools down, the growth of the TRON network continues to accelerate—The Q4 decline for the first time in years indicates a divergence between the currency and the underlying layer.

In 2025, the remarkable progress of the TRON network is evident. The platform has reached 355 million accounts and has grown to handle 10.2 million transactions per day. Furthermore, a noteworthy development is that network efficiency has entered the implementation stage, resulting in a 60% reduction in transaction fees. In the USDT settlement domain, TRON has established overwhelming dominance, further solidifying its market position.

Contrasting with the network’s strong performance, the market performance of TRON’s native token, TRX, has followed a very different trajectory. Throughout Q4, TRX experienced a decline of over 16%, marking the most challenging Q4 in recent years.

Disparity Between Network Success and Token Value

What this phenomenon signifies is simple: market interest is shifting away from the network’s scalability to the value proposition of TRX as a currency. The expansion of the underlying layer and increased transaction volume are indicators of TRON’s competitiveness as a platform, and these are commendable achievements in themselves.

However, from an investor’s perspective, the growth in network usage has not translated into returns directly benefiting TRX token holders. The decline in Q4 suggests that the market has not fully embraced the growth story of the TRON network.

Market Sentiment and Fundamental Investment Separation

Amid the overall fluctuations in the crypto market in 2025, the fact that TRX’s quarterly performance has fallen to its lowest level in years reflects the market’s view that platform metric improvements alone are not sufficient. Accelerated network activity, fee structure efficiency, and strengthened USDT settlements—these fundamental improvements have not necessarily led to an increase in token value, which underpins the current adjustment phase.