TRON Protocol Revenue Spiked To $226 Million; What Next?

Justin Sun Unveils New Revenue Dashboard

On September 6, Justin Sun, founder of TRON and a member of the Huobi HTX Global Advisory Committee, announced the launch of a more detailed protocol revenue page on Tronscan. This enhancement aims to provide the TRON community with deeper insights into the network's financial performance.

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According to Tronscan data, TRON's protocol revenue over the past 365 days has reached an impressive $1.57 billion, marking a 115% year-on-year increase. In the past 30 days alone, TRON recorded $226 million in revenue, a 48% jump compared to the previous month. Sun expressed optimism that TRON is well on track to meet its $2 billion revenue target for the year, with a $3 billion target also within reach. With these figures, TRON is poised to maintain its top position in global blockchain revenue rankings for 2024.

TRON (TRX) Price Poised for Recovery

The price of TRON’s cryptocurrency (TRX) has been trending upwards for an extended period, forming a higher-high structure. TRX is currently in a bullish trend, trading above key exponential moving averages.

Recently, however, the price faced resistance at $0.148441, indicating some technical weakness. Despite this, TRX remains above its support level of $0.148441.

At the time of writing, TRX was trading at $0.149920, down 0.12% on the day, with a 24-hour trading volume of $294.55 million. TRON’s market cap stands at $13.03 billion, with a circulating supply of 86.74 billion TRX.

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Year-to-date, TRON is up by nearly 40%, reflecting a continued bullish trend. Over the last three months, it has gained 33%, though it has seen a 6.23% decline over the past week, suggesting some short-term bearish momentum.

According to a technical summary from TradingView, out of 26 indicators, 11 suggest buying, 9 are neutral, and 6 indicate selling, underscoring strong bullish momentum in the TRON price.

Conclusion

TRON has shown remarkable financial growth, with protocol revenue hitting $1.57 billion in the past year and continuing on a positive trajectory. Despite some recent price fluctuations, TRON's broader market outlook remains bullish, supported by favorable technical indicators. Justin Sun’s confidence in achieving ambitious revenue targets reinforces TRON’s strong standing in the global blockchain space.

Source: coingabbar

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Writer @Elena

Elena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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