Tron, or TRX as it is also known, now ranks among the 10 largest cryptocurrencies in terms of market cap. Tron’s stablecoin and network revenue is growing, which has led to this achievement on the cryptocurrency market.
Justin Sun has led Tron to a rapid expansion of its ecosystem, which attracted the attention of investors as well as meme communities.
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Tron’s meteoric Rise: Market position, revenue and legal victories
The Network revenue outpaces the competition
Tron’s network revenues have surpassed Ethereum over the past ninety days. TRX generated about $435 million of fees while Ethereum had only $364 million. Tron’s growing blockchain and user base is responsible for the growth.
Stablecoin Settlements Boost Ecosystem
USDT settlements for Tron are now about one-third the volume Visa has settled in Q2 of 2024. TRX is able to facilitate fast, cheap transactions.
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TRX’s Legal Victory strengthens it Position
The court denied the SEC’s request for expedited proceedings against Justin Sun and Tron. The decision is a landmark for all blockchain projects that are under regulatory scrutiny.
Meme Communities Eye Expansion
Justin Sun announced to the world his plan to recruit major leaders in the meme communities to Tron. Millions of new users would be added. The move would likely boost TRX users and the network’s activity.
Market cap of TRX surpasses that of its competitors
TRX reached a staggering market capitalization value of $12.04 Billion. What would you have thought a day earlier? The crypto has surpassed Cardano, and many other popular cryptocurrencies while increasing investor confidence.
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Some elements may be responsible for the growth of this coin. Some of the factors that could contribute to its growth are: growing revenues, use of stablecoins, and new potential users. Tron is growing and could soon compete with the leading blockchain platforms. We are ready.
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Source: watcher.guru