Messari, a top crypto data research organization, recently released the TRON Q1 report for 2024. The report shows that TRON has performed well in terms of protocol revenue, TRX deflation, DeFi TVL, and stablecoins.
In the first quarter, TRON protocol revenue increased by 7.2% month-on-month, reaching a record high of US$128.1 million, ranking third among all blockchain networks, second only to Ethereum and Bitcoin.
The protocol revenue comes from the TRX burned by users to obtain resources and pay fees. The report shows that TRX continued to maintain deflation in the first quarter, and its circulation dropped from 88.2 billion to about 87.7 billion. The TRON network is one of the few deflationary L1 networks.
In terms of DeFi, TRON also performed well. The report shows that TRON DeFi TVL increased by 24.8% month-on-month to US$10.1 billion, ranking second among global public chains.
In the field of stablecoins, TRON maintained its outstanding performance in the first quarter, with the total market value of stablecoins on the chain increasing from US$49.3 billion to US$53.1 billion, an increase of 8% month-on-month. Among them, the market value of TRON's version of USDT increased by 12% month-on-month to US$52.1 billion, accounting for 53% of the total circulation of USDT. TRON's dominant position as the largest issuance network of USDT is continuing to consolidate.
TRON's strong performance in the first quarter of 2024 is inseparable from its prosperous ecosystem and continuous innovation. In the future, TRON will integrate with Bitcoin to expand the ecosystem. By developing Bitcoin Layer 2 solutions and other means, TRON is committed to building an ecosystem that integrates TRON, BitTorrent, and Bitcoin networks.
Full report: (Click the end of the article to read the original text and jump directly)
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