In July 2024, TRON experienced significant growth across multiple metrics, showcasing its continued dominance in the blockchain space.
Fees and revenue saw a 12.1% increase, while TRX market data indicated positive trends. The network recorded over 212 million transactions and welcomed 6.7 million new addresses, underscoring TRON’s robust user engagement.
TRON Income Statement
For July, TRON reported a positive uptick in fees and revenue, up 12.1%. Earnings remained steady above $20 million, consistent with previous months, reflecting the blockchain’s strong financial health.
TRX Market Data
TRX trading volume surged by $2.28 billion, marking a 24% increase from the previous month. The number of TRX holders grew by 4.3 million, reaching a total of 138.7 million. Notably, the amount of TRX burned (316.5 million) exceeded the amount generated (157 million), indicating a deflationary trend.
Network Usage
TRON maintained its leadership in daily active users, boasting 2.2 million, the highest among blockchains. The network processed over 212 million transactions and added 6.7 million new addresses, bringing the total to over 247 million unique addresses.
Staking and Decentralization
Total TRX staked saw slight positive growth compared to the previous month, indicating increased user participation in securing the network.
Tron Total Value Locked (TVL)
TRON’s TVL grew by $600 million, a 7.8% increase over the last 30 days, averaging between $7.5 billion and $8 billion. Lending and CDP were the primary sectors driving this growth, with JustLend ($6.1 billion) and JustStables ($1.5 billion) leading the ecosystem.
. @trondao Monthly Report – July 2024
Key Summary:
– Fees and Revenue up by 12.1%
– TRX market data grew positively
– Over 212M transactions and 6.7M new addresses were created
– TRON leads in daily active users
– TVL grew by $600M
– Stablecoin M.Cap grew by $1.1B(1/16) pic.twitter.com/T19PWzsPdE
— Coin98 Analytics (@Coin98Analytics) August 2, 2024
Stablecoins
The total stablecoin market cap on TRON reached $59.1 billion, a $1.1 billion increase in July. USDT dominated the market cap at $58 billion, while TUSD saw the highest growth at 69%, reaching $150 million. TRON’s USDT market cap surpassed that of Ethereum and BNBChain, reinforcing its position as a leading blockchain for stablecoins.
TRON’s impressive performance in July 2024 highlights its strength in user engagement, financial growth, and market presence, setting a solid foundation for continued success.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: winst2014/123RF // Image Effects by Colorcinch
