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Tron token rallied for six consecutive days, reaching its highest level since August as Justin Sun made a bold prediction about its ecosystem. Tron (TRX), the tenth-largest cryptocurrency, rose to $0.166 as it approached the important resistance point at $0.
Tron price has stayed on the uptrend this week, unlike Bitcoin which has not registered successive daily gains the entire week.
With an 8.40% dominance, Tron is the second-largest blockchain after Ethereum, which enjoys a massive dominance of 55.99%. In the last seven days, Tron has seen a positive change of 2.7%. It has also experienced a rise in energy consumption. These developments have brought significant attention from the cryptocurrency community to the blockchain.
Tron is now in the top 10 blockchains by market cap, flipping Toncoin and Cardano. While there were initial doubts about the network dying a natural death due to the then “superior” competitor Ethereum in the first few years, the smart contracts platform has surpassed expectations.
The world of cryptocurrency is dynamic and ever-evolving, and one of the most significant developments in recent months has been the meteoric rise of Tether (USDT). As of late October 2024, USDT's market capitalization has surpassed a staggering $120 billion, solidifying its position as the leading stable coin in the crypto market.
Almost all major cryptocurrencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), Dogecoin (DOGE), Chainlink (LINK), and Polkadot (DOT), have registered substantial declines. The crypto market cap has also dropped by 0.82% and currently stands at $2.31 trillion.
Latest updates on TRX, BNB, and ADA coins.
USDT market cap has surged past $120 billion, driven by its trading volume on Ethereum and Tron.
Tron holders reap profits as whale activity surges, boosting the altcoin bullish momentum.
Amid the ongoing price correction across the cryptocurrency market, Tron (TRX) has formed a bullish price action pattern on its daily chart.
Today TRON has fallen between the moving average lines. If the bears break the 50-day SMA to the downside, TRON will fall back to the lower $0.15 price area.
TRON, with its native token TRX, has been on a tear in the last few months, with its impressive market cap growth. Based on Messari's tracking for Q3 2024, TRX's market capitalization increased by 24%, from nearly $11 billion to $13.5 billion.
Following SunPump's launch, average daily DEX volume increased by 150%, representing the highest trading activity since 2022.
TRON (TRX) is making headlines as it experiences a remarkable surge in monthly transaction fees, now reaching an impressive $200 million. This spike signals a strong bullish sentiment in the market, raising questions about the potential for a major price rally.
The use of cryptocurrencies is at an all-time high, driven in particular by some blockchains like Ethereum or by layer-2 solutions like Base.
Data from Dune highlights that since early August, SunPump has been instrumental in launching over 90,800 meme coins on the Tron network, significantly contributing to Tron's revenue and market presence.
TL;DR Record Revenue: TRON achieved an all-time high revenue of $151.2 million in Q3 2024, driven by the success of its SunPump memecoin launchpad and a 487% increase in DeFi transactions.
Tether (USDT) has been gaining major traction on the TRON network, according to recent data from CryptoQuant. In September 2024 alone, the TRON network facilitated $424 billion in USDT transfers.
Tron's SunPump memecoin launchpad boosted the blockchain's Q3 revenue to a record $151.2 million, driven by a surge in token launches and increased DeFi activity.
Tron's memecoin launchpad, SunPump, has driven the blockchain's quarterly revenue to an all-time high of $151.2 million in the third quarter of 2024, according to a report by Messari.
TRON network sees substantial revenue growth and increased activity, primarily driven by meme coin popularity and stablecoin transfers
The Tron network has made headlines with an extraordinary 170% surge in its revenue, highlighting its growing influence within the blockchain and decentralized finance (DeFi) sectors. According to Look on chain, a well-regarded on-chain analytics platform, Tron's revenue climbed from $2.69 million last year to an impressive $7.28 million this year.
Tron is making waves in the crypto world with incredible growth over the past ten months. Its new memecoin launchpad, SunPump, has helped launch over 90,823 tokens, sparking a massive 487% increase in activity. This surge pushed Tron's blockchain quarterly revenue to a record-breaking $151.2 million, a 30% jump from the previous quarter.
Nearly a third of Tron's record $151 million quarterly revenue came from its new memecoin launchpad SunPump over a two week period.
