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Founded in September 2017, the TRON blockchain has experienced significant growth since its Mainnet launch in May 2018.
Until recently, TRON hosted the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $86 billion.
As of April 2026, the TRON blockchain has recorded over 376 million in total user accounts, more than 13 billion in total transactions, and over $27 billion in total value locked (TVL), based on TRONSCAN.
OpenSea CMO Sees Tokenized Pokemon Cards Driving New NFT Wave - OpenSea CMO Adam Hollander believes the next NFT wave will focus on tokenized real-world assets like Pokémon cards and Rolexes, rather than speculative PFP collections.
Wall Street Pushes For Hyperliquid Regulation - CME and ICE are lobbying the CFTC and U.S. lawmakers to regulate the Singapore-domiciled exchange Hyperliquid.
Tokenized ETFs Surpass $430M - Tokenized ETFs have achieved a combined onchain market capitalization exceeding $430 million as of Friday, according to Token Terminal data.
Get a complete view of the largest gainers, losers, and topics with Messari’s Signals Tracker, based on mindshare and sentiment.
Asset | Mindshare% | Current Sentiment | 1 Week Change |
|---|---|---|---|
MX Token | 0.14% | Neutral | ⬆️ |
Ethereum | 4.95% | Bullish🐂 | ⬆️ |
Starknet | 0.16% | Neutral | ⬇️ |
Bitget Token | 0.5% | Neutral | ⬇️ |
Tria | 2.88% | Bullish🐂 | ⬆️ |
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Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
By: Eric Manoukian · @CryptoRick98 · Research Analyst
The Burn-Mint Equilibrium (BME) framework was activated on March 23, 2026, via Mainnet 17, tying every onchain compute workload to an AKT market buy and creating the first deflationary mechanism in the network’s history. AKT rallied 41.6% QoQ to $0.50, with the move concentrated around the activation date, marking a structural shift in what drives AKT price formation going forward.
New leases increased 27.1% QoQ to 43,540, the third consecutive quarter of sequential growth, while lease revenue compressed 45% QoQ to $253,245, due to continued rotation toward lower-cost workload types.
Average active providers fell 8.4% QoQ to 58, the lowest quarterly count in recent history, while compute capacity contracted across all four resource categories. CPU utilization rose 8.4% to 26.1% as providers cut idle capacity faster than usage declined.
Akash launched two strategic AI infrastructure products during the quarter: Akash Homenode, which democratizes GPU contribution by enabling individual hardware owners to earn from network compute demand, and the Akash Agents platform, which provides one-click AI agent deployment on decentralized compute. The additions broaden the network’s addressable market by extending supply beyond datacenter operators and lowering the deployment barrier for the fastest-growing AI workload category, positioning Akash to capture structural AI infrastructure demand through 2026.
CRCL vs. ARC: Why Stablecoin Balances Beat Stablecoin Velocity
By: Jake Koch-Gallup · @immutablejacob · Research Analyst
Circle and Arc offer two very different exposures to stablecoin growth. CRCL is a bet on USDC balances, reserve assets, and short-term rates, while ARC is a bet on stablecoin activity, transaction volume, and network-level fee capture.
The stronger investment case is CRCL. Circle’s reserve-yield model is already generating meaningful revenue, including $653 million of reserve income in Q1 2026 alone. ARC, by contrast, still has to prove that activity on Arc can translate into durable tokenholder value.
ARC’s biggest problem is not adoption, but monetization. Arc may become useful infrastructure, but transaction fees across crypto will trend toward zero over time, and Arc’s own design includes fee discounts and subsidies that could limit protocol-level revenue capture.
Even aggressive transaction assumptions struggle to compete with Circle’s reserve engine. At $0.001 per transaction, Arc would generate just $258 million of annual gross protocol fees at Visa-scale transaction volume, well below Circle’s current reserve-income run rate.
ARC’s smaller starting valuation does not solve the core problem. A $3 billion FDV gives ARC more room to outperform, but only if Arc can generate durable, token-accretive revenue in a market where stablecoin settlement fees are likely to remain highly competitive.
