1010210102 Tokens
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TRX

Tron · L1 (stablecoin settlement)

61 /100
T3Mixed · #8 of 77
Cash flow routeStableReviewed Oct 23, 2026

Score qualifies for T2; held by Distribution 0 (needs 1).

DemandSoundnessDurability
33 of 4518 of 4010 of 15

Key facts

SupplyFloat 100% of issued supply
FDV / market cap
1.0x
$31.3B / $31.3B
Market cap
$31.3B
Price $0.330, 7d −1.5%

Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.

Assessment

Tron's engine is cash flow: 100% of fees paid in TRX are burned by protocol, ~$340M over the trailing year, on a ~$94B stablecoin base. The burn is a policy dial, though: super representatives halved it in Aug 2025 by cutting the energy price, and net supply now grows ~0.4%/yr with no cap, with block rewards set by the same 27 representatives. All 95.0B TRX circulate. About $2.7B of votes seats enough representatives to stall the chain, Sun-linked entities hold 22.6% of votes, and one client runs it. What holds it back is distribution: the Foundation, private buyers and Justin Sun's Peiwo received ~53% of all TRX ever issued.

How value reaches holders

TRX paid for bandwidth and energy is burned at protocol level, pure plumbing (~$90M destroyed in Q2 2026 alone, ~1.1% of market cap a year), but ~3.92M TRX/day mints to SRs and stakers, and burns have run below mint for three straight quarters (+0.1% supply QoQ). The Aug 2025 vote cutting the energy price from 210 to 100 sun halved the burn overnight; staked-resource usage, which burns nothing, erodes the burn share

Score anatomy

Demand

33 / 45: the stronger of two routes, plus adoption

Why would anyone hold it: does value reach the token, and is the network or product used today?

Holder routing engine input
4

100% of fees paid in TRX are burned (~$340M trailing year); the fee-pool switch is one committee vote away, so not a 5

Plumbing at 50%+, or 100% via contract but governance-revocableHow this is scored

Revenue reality engine input
4
Monetary usage engine input
1

Gas for Tron (~$94B of stablecoins) counts 1; TRX collateral sits in JustLend, run inside the Tron ecosystem ($1.5B), and third-party venues hold ~$1M.

Pays its own network's fees (gas never counts higher, whatever the size of the economy)medium confidenceHow this is scored

Adoption ×3
4

Tron holds $94.2B of stablecoins, +20% YoY to 31% of all (largest USDT chain), and led chain fees at $338M TTM (-48%); second to Ethereum in total stablecoins

Leader: a top-three network or product in its category by use, holding or gaining sharehigh confidenceHow this is scored

Two routes, the stronger counts

0123453.51cash flowmoney
Revenue 4, minus 0.5 for routing 4 = cash flow 3.5. Money use 1. The engine is the stronger route: 3.5.

Soundness

18 / 40

Can a long-term holder trust the rules: supply, float, distribution and control?

Supply discipline ×3
3

Gross ~1.4B TRX/yr minted (~1.5%) against fee burns, net ~+0.4%/yr in 2026 with no cap; the 27 super representatives set block rewards by proposal, which caps this at 3.

1-3%/yr on a published curve, or 3-7%/yr under a hard cap with halvingsmedium confidenceHow this is scored

Float and unlocks ×1
5

All 95.0B TRX circulating with no vesting schedule.

Fully vested, no scheduled unlocksmedium confidenceHow this is scored

Distribution ×2
0

2017 ICO sold 40% at $0.0019; private placement 15.75%, Tron Foundation 34%, Justin Sun's Peiwo 10.25%: 60B, ~53% of the ~112B TRX ever issued (est., burns included)

Insiders received over 50%, or one organization directs over 30% todaymedium confidenceHow this is scored

Decentralization and security ×2
2

27 SRs, 19 needed to solidify: ~8.3B TRX (~$2.7B) of votes seats the 9 that stall it; one client; Sun-linked Poloniex, Tron Inc. and HTX hold 22.6% of votes, and SR proposals reprice gas with no holder exit

Attack cost $10-100M, an unexploited soundness bug in the last 24 months, or upgrades by a security council or governance with under a 7-day exit windowmedium confidenceHow this is scored

Durability

10 / 15

Is it big, proven and reachable by institutions?

Scale ×1
4

$31.4B market cap (band 5), $340.9M/day median volume (band 4), no flags.

Major: $1-10B market cap and $50M/day+How this is scored

Track record ×1
3

9.1 years since the Sep 2017 sale but one 80%+ drawdown (Jan 2018 to Mar 2020, ~98%); the 2021-22 fall was 75% ($0.18 to $0.045).

5-8 years and survived an 80%+ drawdownmedium confidenceHow this is scored

Institutional access ×1
3

US spot TRX ETFs hold $49.2M (SoSoValue, Oct 22, 2026), under $500M; Valour Tron ETP in Europe.

One US spot ETF, or US ETFs under $500Mhigh confidenceHow this is scored

What would move it up

To reach T2 Strong, one gate is still open:

  • Distribution 0needs 1(open)
  • Score 61gate 55(met)
  • Value engine 3.5gate 3(met)
  • Adoption 4gate 3(met)
  • Supply 3gate 2(met)
  • Security 2gate 2(met)
  • Float and unlocks 5gate 1(met)
  • Scale 4gate 3(met)

Tier outlook

Stable

  • Distribution rises off 0 only once insider-received TRX falls below half of all TRX ever issued (~53% today, estimated)
  • Holder routing falls if super representatives switch fees to a fee pool, one committee vote away
  • Supply: a fourth straight quarter of burns below the ~3.92M TRX/day mint keeps net supply growing
  • Security: any SR proposal repricing energy, bandwidth or block rewards passes with no holder exit window
  • Usage stays at 1 while TRX collateral sits in Tron-run JustLend and third-party venues hold ~$1M

Compare with

How the ranking works and how TRX compares: see the full ranking. This entry as JSON:

GET https://tokens.10102.io/api/v1/tokenomics?symbol=TRX