TRON has reported a strong performance for August 2024, with positive growth recorded across multiple metrics, including fees, revenue, and total earnings.

The platform’s Total Value Locked (TVL) remained stable above the $8 billion mark, while USDT continues to dominate TRON’s stablecoin market cap, accounting for approximately 99% at $58.5 billion.

TRON’s August Income Statement revealed impressive gains, with fees and revenue growing by 38.1% compared to the previous month. Earnings nearly doubled, closing at $38.99 million, marking a significant improvement in the blockchain’s financial health.

TRX trading volume surged by $8.5 billion compared to July’s figures, and the total number of TRX holders surpassed 143.5 million, adding 4.92 million new holders in August alone. Notably, TRX burning spiked on August 21, with 34.67 million tokens burned that day. By the end of the month, 420.8 million TRX were burned, while 157 million TRX were generated.

. @trondao Monthly Report – August 2024

Key Summary:

– Positive growth is recorded across TRON’s monthly Fees, Revenue and Earnings
– TVL remained consistently high, above the $8B level
– USDT continues to account for ~99% of stablecoin m.cap on TRON, at $58.5B

(1/16) pic.twitter.com/Na6ie5bQVp

— Coin98 Analytics (@Coin98Analytics) September 10, 2024

TRON continued to see high levels of network activity, processing 231.7 million transactions in August. The platform also added 7.1 million new addresses, bringing the total to 254.8 million. Daily active addresses averaged 2.1 million, second only to Solana in terms of active users among major blockchains.

Staking also saw a substantial increase, with the total TRX staked tripling compared to the previous month, reaching 47.11 billion TRX by the end of August.

TRON’s TVL hit $8.18 billion by the end of August, with lending protocols like JustLend contributing $5.76 billion. Meanwhile, the total stablecoin market cap on TRON reached $59.59 billion, with USDT leading at $58.5 billion.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: slavstan/123RF // Image Effects by Colorcinch

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