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Geneva, Switzerland, October 22, 2024 – Messari, a premier source of market intelligence for digital assets, has published a research study detailing the performance of TRON in the third quarter of 2024. The findings reveal a remarkable trajectory of on-chain activity, contributing to an unprecedented revenue milestone driven by rising transaction volumes and an expanding user community.
TRON Performance Overview for Q3 2024
The TRON network witnessed significant growth in its protocol revenue during the third quarter of 2024, achieving a record $151.2 million. This marks a substantial 29% increase compared to the previous quarter.
During this time frame, TRON also recorded advancements across crucial indicators, including:
- Market Cap: Up by 24%
- DeFi Total Value Locked (TVL): Increased by 4%
- Stablecoin Market Cap: Grew by 3%
- Average Daily DEX Volume: Soared by 150%
Key Developments in TRON’s Ecosystem
- On July 25, TRON initiated HackaTRON Season 7, aimed at drawing interest from both seasoned developers and newcomers.
- On September 10, 2024, TRON partnered with Tether and TRM Labs to establish the T3 Financial Crime Unit (T3 FCU), tackling challenges related to cryptocurrency crimes.
- TRON is in the process of developing a Bitcoin Layer-2 solution to enhance secure access to TRON’s stablecoin resources.
For a comprehensive understanding, access the full research report from Messari here.
About TRON DAO
TRON DAO is a community-driven decentralized autonomous organization focused on promoting internet decentralization through blockchain and decentralized applications (dApps).
Since its inception in September 2017 by Justin Sun, TRON has seen considerable progress, notably with its MainNet launch in May 2018. In July 2018, TRON integrated with BitTorrent, a trailblazer in decentralized Web3 applications, which serves over 100 million users monthly. As of October 2024, the TRON blockchain boasts over 265 million user accounts and has processed more than 8.7 billion transactions, with a total locked value exceeding $16 billion, according to TRONSCAN.
TRON also holds the title for the largest circulating supply of USD Tether (USDT) globally, having surpassed the Ethereum network in April 2021. The network achieved full decentralization in December 2021 and continues to function as a community-led DAO. Furthermore, in October 2022, TRON was recognized as the national blockchain of the Commonwealth of Dominica. This partnership represents a pioneering effort for a public blockchain to collaborate with a sovereign nation on building its blockchain infrastructure. The Dominica government approved the issuance of Dominica Coin (“DMC”), a fan token generating global promotional opportunities, along with granting seven TRON-based tokens statutory status within the country.
Connect with TRON:
TRON Network |
TRON DAO |
X (Twitter) |
YouTube |
Telegram |
Discord |
Reddit |
GitHub |
Medium |
Forum
Media Contact:
Yeweon Park
[email protected]
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