en.bitcoinsistemi.com
Cryptocurrency analytics company Messari recently published a report on Tron ($TRX) and its network, revealing important information about the status of TRON in Q4 2023.
According to the report, $TRX's market cap increased significantly from $5 billion to $9.4 billion, an 87% increase compared to the previous year, solidifying $TRX's position as one of the largest crypto assets by market capitalization.
Despite this growth, $TRX has underperformed the broader crypto market, which grew by 54% in Q4. As a result, $TRX's ranking among all cryptocurrencies dropped two spots to 12th.
Q4 revenue in US dollars increased 14% from the previous quarter, from $105 million to $119 million. Last year, TRON generated $424 million in fee revenue, ranking 3rd among all networks in fee generation. The only networks with more fees in 2023 are Ethereum ($2.5 billion) and Bitcoin ($797.9 million).
The total amount of stakes increased by 4% compared to the previous year, reaching 46.1 billion $TRX. Stake 2.0 usage continues to grow, with 30% of staked supply choosing this option. Continuing its strong performance in 2023, $USDT on TRON grew by 11% in the 4th quarter. At the end of the quarter, 50% of all $USDT issued were on TRON. stUSDT on TRON became the second largest real-world asset protocol in Q4. Over 2.2 billion $USDT has been deposited into the protocol.
The circulating supply of $TRX is affected by two parameters. All transaction fees paid in $TRX are burned, leading to deflationary pressure on the $TRX supply. In addition, the new $TRX enters the circulating token supply as rewards for stakers and block producers. In Q4 2023, the circulating supply of $TRX decreased from 89 billion to 88 billion from the previous quarter, making $TRX one of the few deflationary Tier-1 networks.
In the 4th quarter of 2023, the number of daily active addresses remained flat and decreased to 1.5 million, a slight decrease of 2% compared to the previous quarter. Daily new addresses also decreased slightly in the 4th quarter, decreasing by 2% to 185,000.
*This is not investment advice.