Tron (TRX) has surpassed Ethereum and Cardano, entering the top 10 cryptocurrencies by market cap. This achievement in the cryptocurrency market comes as Tron’s network revenue and stablecoin settlements grow.
Tron’s ecosystem has expanded rapidly under Justin Sun’s leadership, which has attracted attention from investors and meme communities alike.
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Tron’s Meteoric Rise: Revenue, Legal Wins, and Market Position
Network Revenue Outpaces Competitors
Tron’s network revenue has left Ethereum in the dust over the past 90 days. TRX generated approximately $435 million in fees, and Ethereum just $364 million. This growth stems from Tron’s efficient blockchain and expanding user base.
Stablecoin Settlements Boost Ecosystem
USDT settlements on Tron have reached about one-third of the settlement volume of Visa’s Q2 2024. This jump shows TRX’s role in facilitating fast and cheap transactions.
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TRX’s Legal Victory Strengthens Its Position
A court issued a ruling denying the SEC’s request to expedite proceedings against Tron and Justin Sun. This decision sets a precedent for other blockchain projects facing regulatory scrutiny.
Meme Communities Eye Expansion
Today, I talked with several major meme community leaders about the meme ecosystem on Tron. They said they plan to bring millions of users 🤯 to the Tron community and can't wait to join the Tron ecosystem as soon as possible. They’re already here—what about you? TO THE SUN🌞
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 19, 2024
Justin Sun has informed the world of his plans for major meme community leaders to bring new users to Tron. This would imply millions of new users. This move could boost TRX’s user base and network activity significantly.
TRX Market Cap Surpasses Competitors
TRX’s market cap hit a whopping $12.04 billion. Who would have expected this a day ago? It surpassed Cardano and other top cryptos while raking investors’ confidence.
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There are a few elements that might contribute to the coin’s growth. Some of these are its growing revenue, stablecoin use, and potential new users. As it grows, Tron could compete with leading blockchain platforms, and we’re ready!
