Tron, a blockchain network known for its TRX token, has recently achieved a significant milestone by recording nearly $2 million in daily protocol revenue, according to TronScan. This milestone is particularly noteworthy amidst the current robust activity in the cryptocurrency market.
Justin Sun, the controversial founder of Tron, confirmed this achievement, highlighting the platform’s increasing prominence.
TRON Protocol Daily Revenue Reaches All-Time High AGAIN. #TRX
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 29, 2024
Tron has carved out a unique niche in the crypto ecosystem, emerging as the preferred network for stablecoin transfers. While this underscores the platform’s utility and functionality, Tron has faced criticism from various quarters.
Notably, Circle, the issuer of the USDC stablecoin, recently announced its decision to discontinue support for the Tron blockchain.
1/ We are discontinuing USDC on the TRON blockchain in a phased transition. Effective immediately, we will no longer mint USDC on TRON. Transfers and redemptions of USDC on TRON will continue to operate normally through February 2025. Read the details: https://t.co/kw9A3ZUpWH
— Circle (@circle) February 21, 2024
Ethereum co-founder Vitalik Buterin has also voiced his disapproval of Tron in the past.
8. Better white paper writing capability (Ctrl+C + Ctrl+V much higher efficiency than keyboard typing new content)
— vitalik.eth (@VitalikButerin) April 6, 2018
Despite such challenges, Tron continues to maintain its position as the blockchain with the highest number of active users, according to Coin98 data.
TRX has experienced a substantial surge in value in 2024, witnessing a 30% increase and currently trading at $0.14. This upward trend reflects the growing adoption and confidence in Tron’s capabilities.
As Tron advances further, its role in facilitating blockchain transactions, particularly in the stablecoin market, is expected to become even more pronounced, solidifying its position in the cryptocurrency landscape.
