TRON’s latest financial report for the first quarter of 2024 highlights impressive growth across various key indicators, signaling a promising start to the year for the blockchain platform.
According to the report, TRON experienced a remarkable increase of over 21% in fees and revenue compared to the previous quarter, more than doubling year-over-year. This surge in financial performance underscores the platform’s growing popularity and adoption among users.
In addition, the trading volume of the native $TRX token saw a notable uptick of 27% quarter-over-quarter, reaching an impressive $38 billion. Moreover, the number of $TRX holders surpassed 123 million during Q1 2024, reflecting a widening user base and heightened interest in the cryptocurrency.
@trondao Q1 2024 Financial Report#TRON's Fees and Revenue increased by over 21% compared to the previous quarter and more than doubled YoY
Additionally, the $TRX trading volume increased by 27% QoQ, reaching over $38B, with the number of $TRX holders surpassing 123M pic.twitter.com/I7loQPdC5V
— Coin98 Analytics (@Coin98Analytics) April 8, 2024
Surge In TRON Transaction In The First Quarter Of The Year
During the first quarter of the year, TRON witnessed a staggering total of over 440.7 million transactions, accompanied by the creation of more than 17 million new addresses. This surge in transaction activity and address creation demonstrates the platform’s increasing utility and user engagement.
Furthermore, the Total Supply of $TRX experienced a reduction of 630 million tokens, contributing to a decrease in inflation for the TRX token and potentially enhancing its scarcity and value proposition.
Additionally, TRON’s Total Value Locked (TVL) reached nearly $10 billion, marking a substantial increase of nearly 25% quarter-over-quarter and a remarkable 87% compared to the same period last year. This growth in TVL underscores the platform’s growing ecosystem and the confidence of users in its decentralized finance (DeFi) offerings.
Moreover, the stablecoin market cap also witnessed significant expansion during the first quarter, with an increase of over $3.8 billion quarter-over-quarter, further highlighting TRON’s position as a key player in the broader cryptocurrency market.
Overall, TRON’s Q1 2024 financial report reflects robust growth and positive momentum across various metrics, positioning the platform for continued success and expansion in the evolving blockchain landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.