Tron (TRX) price hit an all-time high of $0.44 in the first week of December 2024, breaking previous records amid a bull run across all cryptocurrencies that gained steam after Donald Trump's presidential victory. TRX's return to 10th position by market capitalization has brought a sense of revival to the community, however, its price continues to struggle, down over 43% from its newly established peak and stuck at the $0.25 level for almost two weeks.
Despite this, Tron's monthly revenue has been steadily increasing.
Tron tops revenue rankings
According to the latest <a target="_blank" href="https://x.com/lookonchain/status/1873993751640846747″ target=”_blank” rel=”noopener” data-wpel-link=”external”>recommendations According to Lookonchain, the Tron network has seen a significant increase in revenue over the past 30 days, reaching approximately $330 million, a 39.7% increase compared to the previous month. As a result, revenue increased to $764.11 million in the last 90 days.
In the third quarter of 2024, Tron recorded a significant increase in revenue that can be attributed to the rapid success of SunPump, its token launch platform designed for meme coins. SunPump gained traction starting August 16, and activity skyrocketed in the following two weeks.
Zooming out, this growth has contributed to a more than 115% year-over-year increase in the network's total revenue by 2024, which now stands at $2.12 billion. This is further validated by data from CryptoDep, which <a target="_blank" href="https://x.com/Crypto_Dep/status/1872594258114523527″ target=”_blank” rel=”noopener” data-wpel-link=”external”>sample Tron tops the blockchain revenue charts for 2024. This put Tron ahead of ethereum, which trails behind with $2 billion in revenue.
Meanwhile, Solana, despite its impressive 3,028% growth trend and $90.9 billion market cap, still lags far behind Tron in revenue generation. Similarly, Base and other emerging blockchains, such as Arbitrum, at $44.7 million, and Optimism, at $37.9 million, are far behind.
A bullish reversal for TRX?
However, the cryptocurrency market as a whole turned bearish after Christmas, and TRX suffered significant losses. The holiday season has been a lull for cryptocurrencies, but it could soon find a local bottom.7
Resistance zones are anticipated at $0.40 and $0.49. Speculation about recent initiatives by asset manager Grayscale and Tron founder Justin Sun has sparked community interest.
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