TRON Market Cap Hits Nearly $14 Billion On Strong Revenue Growth

2024-10-20 11:00

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. This marks the seventh consecutive quarter in which the token has increased its circulating market cap, pushing the company into the Top 10 biggest cryptos by market cap.

TRX’s price surge also extended to TRX/BTC pairing, which also notched a 25% increase. The token sits below XRP and Dogecoin in the list of top cryptos by market cap. It is powered primarily by USDT transactions and is launching on SunPump, the first ‘meme fair and online platform’.

TRON Gets A Boost From SunPump

The TRON network saw a massive increase in transaction volume in the third quarter thanks to the launching of SunPump. According to reports, TRX transactions increased 29% this third quarter to $151 million. In August alone, over 270 million TRX valued at $42 million was burned on SunPump. It’s considered the largest single-day burn for TRON. As a deflationary token, TRX is burned every time it’s used in a transaction to prop up its value.

TRON Supply Dips In Q3

TRON sets a fixed supply of 100 billion coins to protect its value and prevent inflation. TRX’s market supply dipped from 87.20 billion in the third quarter to 86.62 billion. The network’s burning schedule, which outpaces the minting of new tokens, supports this. In short, TRX’s annualized inflation rate hit -2.7% compared to -2.4% from the previous quarter.

TRON strives to find a balance between burning and printing new tokens. The network aims to decrease the token’s circulating supply, which can benefit holders and investors. Also, the yield in staking TRX has increased 13% quarter-on-quarter, which attracts more users and investors.

Big Things Ahead For TRON

TRON is now one of the biggest cryptos by market cap, now valued at $13.5 billion. Holders and users can expect sustained growth for the network, thanks to increasing revenue, partly driven by the launching of a new meme coin fair and platform. Also, the network’s token-burning policy currently outpaces minting, thus boosting the potential value of the token.

Finally, stats from Dune suggest that over 90,000 meme coins have been launched through TRON’s network using SunPump. August 20th was the most active day, with over 7,500 coins released, highlighting the meme coins’ platform role in sustaining TRON.

Featured image from IQ.wiki, chart from TradingView

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market growth tron trx cap billion nearly

Источник: newsbtc.com

market growth → Результатов: 126


Are Institutional Investors Reliable for the Growth of Cryptocurrency?

With the involvement of Bakkt in cryptocurrency, it has become ever so resounding that the cryptocurrency market is continuously being flooded with more and more institutional investors. Perceived as a good news for the cryptocurrency market, institutional investors have claimed the spots and are now seen as the next big players intended to skyrocket cryptocurrencies […] The post Are Institutional Investors Reliable for the Growth of Cryptocurrency? appeared first on ZyCrypto.

2018-12-6 19:52


Фото:

Bitcoin Social Media Celebrates Reddit Sub r/Bitcoin 1M Subscribers

The Bitcoin forum of social media platform Reddit is celebrating a milestone of its own December 2 after gaining its one-millionth subscriber. u/CryptoBull007 Clinches Coveted Title While there remains little cause for celebration among the Bitcoin community in the ongoing 2018 bear market, growth in one sector of its economy is undeniable: the r/Bitcoin subreddit.

2018-12-3 11:00


Ether Price Analysis: Untested Support Leaves Shaky Foundation During Drop

Much like the rest of the crypto market, ether has found itself devalued by more than 90% since its all-time high of $1,400 back in December of 2017. And now, almost a year later, ether sits just above $100 on what appears to be shaky ground during its latest round of selling over the last few weeks:Figure 1: ETH-USD, Daily Candles, Rapid DescentSimilar to bitcoin’s movement discussed in yesterday’s article, ETH-USD experienced a parabolic growth profile during its bull run.

2018-11-28 01:55


Фото:

Report: Cryptocurrency Related Lawsuits Skyrocketed in 2018; Up by 300 Percent

In contrast with the bear market we have watched throughout the year it seems that cryptocurrency-related lawsuits have skyrocketed as far up to 300 percent, reports Dior, November 19, 2018. Crypto Lawsuits Go North While bitcoin continues to go south, the business for digital currency focused lawyers looks to have a bright future ahead.

2018-11-23 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

TRON Network Sees Surge In Energy Capacity And Active Users As TRX Burn Continues

The amount of Energy on the TRON DAO network has doubled over the past three months, signaling increased capacity for smart contract activity. Energy is essential for executing smart contract transactions on TRON, and with more Energy available, the network can handle higher demand while mitigating cost spikes during periods […]