TRON (TRX) Q3 2024 Review:って何

TRON (TRX) showcased impressive growth in Q3 2024, marking its seventh consecutive quarter of increased market capitalization.

Key Takeaways:

TRON (TRX) enjoyed a remarkable Q3 2024, marking its seventh consecutive quarter of market cap growth. As per Messari’s Q3 2024 report, TRX’s circulating market cap increased by 24%, rising from $10.9 billion to $13.5 billion.

This was a significant achievement, as the surge propelled TRX to the 9th position in the overall cryptocurrency market rankings, beating several other large-cap tokens. The price also extended to the TRX/BTC pair, showing a 24% growth during the quarter.

SunPump Contributed to Revenue Growth

Revenue generated by transactions on TRON reached new levels in Q3, jumping 29% quarter-over-quarter to $151.2 million, largely attributed to the popularity of SunPump, a platform dedicated to launching memecoins.

Meanwhile, SunPump channeled a large amount of transaction activity into mid-August, burning over 270 million TRX - valued at approximately $42 million. The impacts were evident on SunPump, as the August 21st TRX burn was the biggest single-day burn of TRX in TRON’s history.

Being a deflationary token, each transaction fee paid in TRX, among other cryptocurrencies, is burned and directly reduces supply to bolster its value.

TRON Deflation Accelerates in Q3 with -2.7% Annualized Inflation

TRON’s circulating supply experienced deflationary momentum in Q3, decreasing from 87.20 billion TRX at the start of the three months to 86.62 billion TRX. This follows as the network’s daily TRX burn consistently outpaced the minting rate. The annualized inflation rate thus came in at -2.7%, down from -2.4% in the prior quarter.

By balancing the amount of TRX burned with that newly minted, TRON’s supply decreases over time, offering long-term deflationary benefits to token holders. Moreover, the effective yield for staking on TRON increased by 13% QoQ, further encouraging network participation.

Overall, this more-than-doubled market capitalization, coupled with the revenue increase and continuous supply reduction, sets a promising outlook for TRX in the future.