The Tron blockchain set a new record in the third quarter (Q3) of 2024, recording impressive revenues of 577.2 million dollars, according to the latest news.
This result positions Tron among the most performing blockchains of the period, even surpassing giants like Bitcoin and Ethereum in terms of quarterly revenue.
The data, confirmed by Tronscan and shared by the founder of Tron, Justin Sun, in a post on X (formerly Twitter) on October 2, reveal that 74% of the revenue comes from staking, while 26% is related to burning operations.
Tron news: unprecedented growth in Q3 for its blockchain
Tron, a blockchain platform focused on smart contracts and decentralized applications (dApp), demonstrated exceptional revenue-generating capability and attracted investors in Q3. The significant growth recorded in the third quarter of 2024 was primarily driven by staking activity and the constant innovations introduced in the network.
The total revenue of 577.2 million dollars represents a significant milestone for Tron, especially at a time when many blockchains face scalability and regulatory challenges. This result highlights the operational efficiency and popularity of the platform among users and developers.
Factors that have contributed to the growth of Tron
Various factors played a key role in the explosive growth of Tron during the third quarter of 2024. Among the main reasons:
1. High staking activity
74% of Tron’s total revenue comes from staking, a process in which users lock their TRX tokens to participate in transaction validation and network security. Staking has become a very attractive source of income for investors, thanks to the rewards offered by the Tron network, which are competitive compared to other blockchains.
The ability to offer consistent returns has encouraged many TRX holders to actively participate in staking, thus increasing the overall revenue of the platform.
2. Burning of TRX
Another factor that contributed to the revenue is the burning of the TRX token, responsible for 26% of the quarterly revenue. The burning process involves the destruction of a portion of the TRX tokens, reducing the total supply and, in theory, increasing the value of the remaining tokens. This mechanism has proven to be a powerful tool for Tron to maintain the token’s value and attract new investors.
The burning of tokens not only helps balance supply inflation, but also strengthens users’ trust in the economic system of the Tron network.
3. Expansion of the Tron ecosystem
During 2024, Tron has continued to expand its ecosystem of dApps and services. The platform supports a wide range of decentralized applications, ranging from DeFi (decentralized finance) to non-fungible tokens (NFTs) and blockchain games.
This diversification has helped attract new developers and users, creating a solid base of activity that has further increased the volume of transactions and the revenues generated by the network.
Blockchain news: Tron surpasses Bitcoin and Ethereum in Q3
Despite Bitcoin and Ethereum remaining undisputed leaders in the cryptocurrency sector in terms of market capitalization, Tron surprised many industry observers by surpassing both in terms of quarterly revenue in Q3 2024. The reasons behind this success are manifold:
Scalability: the Tron network is known for being highly scalable, with the ability to process thousands of transactions per second at very low costs. This makes it extremely competitive compared to Ethereum, which is still facing issues related to high fees and network congestion.
Efficiency of the consensus mechanism: Tron uses a consensus mechanism based on Delegated Proof of Stake (DPoS), which allows for efficient decentralized governance and reduces energy consumption compared to Bitcoin’s traditional Proof of Work.
Sustainability and user incentives: the incentive system on Tron, including staking, is one of the reasons why the platform has surpassed Ethereum in terms of revenue. The returns offered on Tron are among the most competitive in the industry, prompting many users to actively participate in the network.
Conclusion
The third quarter of 2024 was a crucial moment for the Tron blockchain, which recorded record revenues of 577.2 million dollars, surpassing Bitcoin and Ethereum. Thanks to high staking activity and the burning of TRX tokens, Tron has proven to be a highly competitive and rapidly growing blockchain platform.
With a continuous expansion of the ecosystem and new innovations on the way, Tron seems destined to play an increasingly important role in the future of the bull blockchain sector.
