On February 20, TRON Network’s fee revenue surged to $1.758 million, signaling a noteworthy achievement for the blockchain network.
The burning of around 12,622,236 TRX tokens, a practice that eliminates transaction fees by destroying tokens, contributed significantly to this momentum and is consistent with TRON’s deflationary model.
TRON Network is ranked fifth among blockchain protocols based on its daily accrued revenue, following all-time revenue growth.
With respective revenues of $12.06 million, $3.05 million, $3 million, and $1.66 million, Ethereum, Uniswap, Lido, and Bitcoin lead the group.
Furthermore, the network is ranked second in terms of Total Value Locked (TVL) at $8.625 billion, behind Ethereum’s $46.74 billion TVL.
However, the recent announcement from Circle (USDC) changed the course of TRON. The stablecoin provider of the popular USD Coin (USDC) announced that it will stop supporting USDC on the Tron blockchain by February 2025.
Circle advises customers to move their USDC holdings to exchanges that allow transfers to blockchains that are supported.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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