Messari, a leading provider of digital asset market intelligence products, released a research report highlighting TRON’s Q3 performance. The report details seven consecutive quarters of increasing on-chain activity, driving its protocol revenue to an all-time high, fueled by increased transaction volumes and a rapidly growing user base.

State of TRON Q3 2024

The TRON network experienced impressive protocol revenue growth in Q3 2024, reaching an all-time high of $151.2 million, reflecting a 29% increase quarter-over-quarter (QoQ).

During this period, TRON also achieved notable growth across several key metrics, including a 24% increase in market cap, a 4% rise in DeFi TVL, a 3% growth in stablecoin market cap, and a 150% increase in average daily DEX volume.

Other Highlights:

• TRON passed a series of proposals aimed at lowering gas fees, further enhancing its appeal for cost-efficient transactions.
• USDT on TRON reached $58.94 billion by the end of Q3, a 3% increase from $57.06 billion QoQ, with over half of all USDT in circulation now on the TRON network.

Ecosystem Growth

• On July 25, TRON 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 the T3 Financial Crime Unit (T3 FCU) to address cryptocurrency-related crimes.
• TRON is developing a Bitcoin Layer-2 solution, aiming for a secure way for the Bitcoin ecosystem to access TRON’s pool of stablecoin capital.

Source : Bitcoin News - Oct 22, 2024