💠In Q3 2024, the TRON (TRX) blockchain emerged as the leader in network revenue among major cryptocurrencies. From July to September, TRON validators earned a record $577.2 million, surpassing Bitcoin miners’ $56.3 million by more than tenfold and doubling the $256 million earned by Ethereum validators.
💠The bulk of TRON’s revenue came from staking and token burning. The ongoing burn process reduced the circulating supply of TRON coins by approximately 100 million last month.
💠Despite this revenue success, TRON significantly lags behind Bitcoin and Ethereum in market capitalization. TRON’s market cap currently stands at $13.4 billion, falling short of the meme token Dogecoin, valued at $15.4 billion. However, TRON is closing the gap: Dogecoin’s market cap dropped by 4.3% over the past month, while TRON’s increased by 2.2%.