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

Justin Sun Introduced a New Revenue Dashboard

On September 6, Justin Sun, the founder of TRON and a member of the Huobi HTX Global Advisory Committee, shared on the X platform that Tronscan has introduced a more comprehensive protocol revenue page to provide the community with a better understanding of TRON's performance. 

Based on Tronscan data, TRON protocol revenue over the past 365 days totalled US$1.57 billion, reflecting a substantial year-on-year increase of 115%. In just the last 30 days, revenue reached US$226 million, marking a 48% increase from the previous month. Justin Sun expressed confidence that, based on the current growth trajectory, attaining this year's US$2 billion revenue target is no longer in doubt, and the US$3 billion target will also be achieved. TRON is set to maintain its position at the top of the global blockchain revenue ranking for this year.

TRON (TRX) Price Ready To Bounce Back

TRON crypto price has been in an uptrend for a prolonged time heading in the upward direction by making a higher high structure. TRX is in a bullish trend trading above the key exponential moving averages. 

Recently its price struggled rejected from the level of $0.148441 showcasing weakness on the technical chart. However, currently, it trading above the support level of $0.148441.

At the time of writing TRON was trading at the level of $0.149920 with an intraday loss of 0.12% with 24-hour trading volume of 294.55 Million. At press time its market cap stands at 13.03 Billion with a circulating supply of 86.74 Billion.

Year to date TRON was up by almost 40% showcasing a bullish trend that resumed till now. Moreover, It was up by almost 33% in the last 3 months and down by 6.23% last week suggesting bearishness in recent times.

According to a technical summary of Trading-view out of 26 indicators, 6 are indicating a sell signal, 9 are neutral and 11 are on the buy-side suggesting solid bullish momentum in  TRON price.

Conclusion

TRON has demonstrated significant financial growth, with protocol revenue reaching $1.57 billion over the past year and showing a strong upward trend. Despite recent price fluctuations, TRON's overall market performance remains bullish, supported by positive technical indicators. Justin Sun's confidence in achieving ambitious revenue targets underscores TRON's robust position in the global blockchain market.

Also Read: Himachal Pradesh Rs 2,000 Crore Crypto Scam Unveiled