Tron’s Revenue Surges, Despite Market Volatility
Background
Tron’s (TRX) price reached an all-time high of $0.44 in the first week of December 2024, surpassing previous records amidst a crypto-wide bull run that gained momentum following Donald Trump’s presidential win. TRX’s return to the 10th position by market capitalization has brought a sense of revival to the community, although its price continues to struggle, down over 43% from its newly established peak and stuck around the $0.25 level for nearly two weeks.
Despite this, Tron’s monthly revenue has steadily increased.
Tron Tops Revenue Rankings
According to the latest findings by Lookonchain, the Tron network has seen a significant surge in revenue over the past 30 days, reaching approximately $330 million – an increase of 39.7% compared to the previous month. As a result, revenue climbed to $764.11 million over the past 90 days.
In the third quarter of 2024, Tron recorded a significant revenue surge that can be attributed to the rapid success of SunPump, its token launcher platform tailored for meme coins. SunPump gained traction starting August 16, with activity skyrocketing in the two weeks that followed.
Growth and Revenue
This growth has contributed to more than 115% year-on-year rise in the network’s total revenue for 2024, which now stands at $2.12 billion. This is further validated by CryptoDep’s data, which shows Tron topping the blockchain revenue charts for 2024. This placed 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, remains far behind Tron in revenue generation. Similarly, Base and other emerging blockchains, such as Arbitrum, with $44.7 million, and Optimism, with $37.9 million, lag significantly behind.
Bullish Reversal For TRX?
However, the cryptocurrency market as a whole turned bearish post-Christmas, with TRX suffering significant losses. The holiday season has been a lull for the crypto, but it could soon find a local bottom.
Resistance zones are anticipated at $0.40 and $0.49. Speculations about asset manager Grayscale and Tron founder Justin Sun’s recent initiatives have driven community interest.
Conclusion
In conclusion, Tron’s revenue surge has been a significant development in the cryptocurrency market, with the network’s revenue topping the charts for 2024. Despite the market’s recent volatility, Tron’s steady growth and increased revenue suggest a promising future for the platform. As the cryptocurrency market continues to evolve, it will be essential to monitor Tron’s performance and potential future developments.
FAQs
Q: What is the current price of TRX?
A: As of [current date], the price of TRX is around $0.25.
Q: What is the reason for Tron’s revenue surge?
A: The revenue surge can be attributed to the success of SunPump, Tron’s token launcher platform, as well as increased activity and growth in the cryptocurrency market.
Q: How does Tron compare to other blockchains in terms of revenue?
A: According to the latest data, Tron tops the blockchain revenue charts for 2024, with a total revenue of $2.12 billion, followed by Ethereum with $2 billion in revenue.
Q: What are the resistance zones for TRX?
A: The anticipated resistance zones for TRX are $0.40 and $0.49.
