TRON Market Cap Hits Nearly $14 Billion On Strong Revenue Growth
TRON's native token, TRX, experienced a 24% market cap increase in Q3 2024, rising from nearly $11 billion to $13.5 billion, marking the seventh consecutive quarter of growth. TRX's price surged 25% against BTC and ranks below XRP and Dogecoin by market cap. The network's transaction volume rose 29% to $151 million, driven by the launch of SunPump, which also facilitated the burning of over 270 million TRX valued at $42 million in August, the largest single-day burn. TRON maintains a fixed supply of 100 billion coins, with market supply decreasing from 87.20 billion to 86.62 billion in Q3, resulting in an annualized inflation rate of -2.7%. Staking yields increased by 13% quarter-on-quarter, attracting more users. Over 90,000 meme coins have been launched on TRON via SunPump, with August 20th seeing over 7,500 coins released.
