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Geneva, Switzerland, October 22, 2024 – messera leading provider of digital asset market intelligence products, published a research report highlighting TRONThird quarter performance. The report details seven consecutive quarters of increased on-chain activity, driving its protocol's revenue to an all-time high, driven by increased transaction volumes and a rapidly growing user base.
TRON Status Q3 2024
The TRON network saw impressive protocol revenue growth in Q3 2024, reaching an all-time high of $151.2 million, reflecting a 29% quarter-over-quarter (QoQ) increase.
During this period, TRON also achieved notable growth in several key metrics, including a 24% increase in market cap, a 4% increase in DeFi TVL, a 3% growth in stablecoin market cap and a 150% increase in average daily DEX volume. .
Other highlights:
- TRON approved a series of proposals aimed at reducing gas fees, further improving its attractiveness for profitable transactions.
- USDT in TRON reached $58.94 billion at the end of the third quarter, an increase of 3% from $57.06 billion QoQ, with more than half of all USDT in circulation now on the TRON network.
Ecosystem growth
- On July 25, TRON was launched. HackaTRON Season 7 to attract both experienced developers and newcomers to the TRON platform.
- On September 10, 2024, TRON, in collaboration with Tether and TRM Labs, announced the launch of crypto-crime/” target=”_blank” rel=””>T3 Financial Crimes Unit (T3 FCU) to address cryptocurrency-related crimes.
- TRON is developing a bitcoin Layer-2 Solutionwith the goal of finding a secure way for the bitcoin ecosystem to access TRON's stable capital fund.
Read the full Messari research report here.
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About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the Internet through blockchain technology and dApps.
Founded in September 2017 by Justin Sun, the TRON network has continued to make impressive achievements since the launch of MainNet in May 2018. July 2018 also marked the integration of BitTorrent, a pioneer in decentralized Web3 services, which has over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of October 2024, it has over 265 million total user accounts on the blockchain, over 8.7 billion total transactions, and over $16 billion in total value locked (TVL), as reported on TRONSCAN.
Additionally, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin worldwide, surpassing USDT on ethereum as of April 2021. The TRON network completed its full decentralization in December 2021 and is now a DAO governed by the community. Most recently, in October 2022, TRON was designated as the national blockchain of the Commonwealth of Dominica, marking the first time that a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure. blocks. In addition to government support to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica's global fanfare, seven existing TRON-based tokens: TRX, BTT, nft, JST, USDD , USDT, TUSD, have been granted legal status as an authorized digital currency and medium of exchange in the country.
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Media contact
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