In the third quarter of 2024, the Tron blockchain set a new revenue record, reaching $577.2 million, positioning it as one of the top-performing blockchains during the period, even surpassing Bitcoin and Ethereum in quarterly revenue. This achievement underscores Tron’s operational efficiency and growing popularity, driven by three key factors:

1. High Staking Activity: Staking contributed to 74% of Tron’s revenue. TRX holders locked their tokens to participate in transaction validation and network security, earning competitive rewards, which attracted more participants to the platform.

2. TRX Burning: The burning of TRX tokens accounted for 26% of the revenue. This process reduces the total supply of tokens, increasing their value and bolstering investor confidence.

3. Ecosystem Expansion: Tron’s ecosystem continued to grow with a range of decentralized applications (dApps) across DeFi, NFTs, and blockchain gaming, driving increased transaction volume and revenue.

Advertisement

Tron’s scalability and use of the Delegated Proof of Stake (DPoS) consensus mechanism allowed it to efficiently handle large transaction volumes at low costs, surpassing Ethereum and Bitcoin in revenue for Q3. This, coupled with its sustainable user incentives and network innovations, positions Tron for continued growth and prominence in the blockchain sector.

Source: en.cryptonomys.ch

The post Tron reaches record revenues of 577 million dollars in Q3, surpassing Bitcoin and Ethereum appeared first on HIPTHER Alerts.