–News Direct–
Geneva, Switzerland, May 17, 2024 Recent detailed analyses by Token Terminal and Messari have provided an in-depth review of the TRON networks activity during the first quarter of 2024, emphasizing its competitive positioning and expansive growth within the blockchain sector.
Token Terminal Analysis
Token Terminals comprehensive report offers crucial insights into key data points and metrics of the TRON networks, setting it apart from comparable blockchain networks:
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Daily Transaction Fees: TRON leads with $4.4 million in daily transaction fees, significantly higher than its peers, highlighting the networks robust activity and utility.
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Daily Active Users: Averaging 1.6 million daily active users across Q1, TRON is a leading blockchain for user activity, demonstrating a vibrant and engaged user base that supports continuous network growth.
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Transaction Volume and Efficiency: TRONs high transaction volume and operational efficiency underscore its strong infrastructure, which is optimized to handle extensive activity without compromising speed or cost.
Messaris Comprehensive Insights
Messaris report showcases key areas of TRONs growth and strategic advancements:
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Revenue and Market Expansion: With a 15% increase in market cap and record Q1 revenue of $128.1 million, TRON has solidified its place among the top revenue-generating blockchain networks.
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DeFi and Stablecoin Sector Growth: TRONs DeFi sector saw a 25% increase in TVL, while its stablecoin market cap, dominated by USDT, grew by 8%, further anchoring its pivotal role in the global stablecoin market.
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Layer-2 Development for Bitcoin: The TRON DAOs introduction of a Layer-2 solution for Bitcoin marks a pivotal development, aiming to integrate the TRON network, BitTorrent Chain, and Bitcoin networks to boost scalability and functionality.
Further Insights
Both reports highlight TRONs resilience and strategic adaptability. Messari notes the networks deflationary token model as a key factor in its economic stability. Token Terminals analysis of TRONs transactional efficiency and user engagement sheds light on its capacity for sustaining growth and increasing adoption.
For a more granular look at TRONs performance metrics and strategic initiatives, the full reports can be accessed through Token Terminal and Messaris platforms. Keep up with TRON DAO for the latest updates and developments as we continue to push the boundaries of decentralization and blockchain innovation worldwide.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of May 2024, it has over 230.22 million total user accounts on the blockchain, more than 7.64 billion total transactions, and over $22.12 billion in total value locked (TVL), as reported on TRONSCAN.
In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the governments endorsement to issue Dominica Coin (DMC), a blockchain-based fan token to help promote Dominicas global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
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View source version on newsdirect.com: https://newsdirect.com/news/token-terminal-and-messari-release-research-reports-on-tron-network-for-q1-of-2024-720338497
TRON DAO
COMTEX_452511072/2655/2024-05-17T08:01:49
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.
