TRON, the blockchain platform that aims to create a decentralized internet, has reached a new milestone in its daily protocol revenue. According to the TRON Foundation, the network generated over $2 million in fees on March 6, 2024, surpassing its previous record of $1.9 million on February 28, 2024.
This achievement reflects the growing adoption and activity of TRON’s ecosystem, which includes various decentralized applications (dApps), decentralized exchanges (DEXs), stablecoins, non-fungible tokens (NFTs), and more. TRON claims to have over 40 million active users and over 2,000 dApps on its platform, making it one of the most popular and vibrant blockchain networks in the world.
One of the main drivers of TRON’s protocol revenue is its native token, TRX, which is used for paying transaction fees, staking, and governance on the network. TRX has also seen a significant increase in its price and market capitalization in the past year, reaching an all-time high of $0.18 on March 5, 2024. At the time of writing, TRX is trading at $0.17, with a market cap of over $12 billion, ranking it as the 12th largest cryptocurrency by CoinMarketCap.
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Another factor that contributes to TRON’s protocol revenue is its innovative incentive mechanism, which rewards users for participating in the network. TRON has a daily reward pool of 100 million TRX, which is distributed to users who stake their tokens, vote for super representatives (SRs), and use dApps.
Additionally, TRON has launched several initiatives to attract more developers and users to its platform, such as the TRON Arcade fund, the TRON Accelerator program, and the SUN Network expansion plan.
TRON’s founder and CEO, Justin Sun, expressed his excitement and gratitude for the network’s performance and community support on Twitter. He wrote: “TRON daily protocol revenue hits new time high with $2 million! Thank you to all our users, developers, SRs, and partners for making this possible! TRON is on track to become the most advanced and user-friendly blockchain platform in the world! #TRX #TRON”
TRON’s daily protocol revenue is an important indicator of its network health and value proposition. As more users and developers join the TRON ecosystem, the demand for TRX and the network’s services will increase, leading to higher fees and rewards. This will create a positive feedback loop that will enhance the security, scalability, and innovation of TRON, as well as its competitiveness in the blockchain industry.
Binance Experiencing Network glitches on Solana transactions.
Binance, one of the largest cryptocurrency exchanges in the world, has announced that it will intermittently suspend withdrawals on the Solana network due to the increased volume of transactions. Solana is a high-performance blockchain that can process up to 50,000 transactions per second, making it one of the fastest and most scalable platforms in the crypto space. However, the recent surge in demand for Solana-based tokens and applications has put a strain on the network, causing delays and congestion.
Binance said in a statement that it is working closely with the Solana team to resolve the issue as soon as possible, and that it will resume withdrawals once the network stabilizes. Binance also advised its users to monitor the status of their transactions on Solana’s official explorer, Solscan, and to contact its customer support if they encounter any problems.
The Solana network has been experiencing unprecedented growth in the past few months, attracting billions of dollars in investments and launching hundreds of projects in various sectors, such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, social media, and more.
Solana’s native token, SOL, has also skyrocketed in value, reaching an all-time high of over $200 earlier this week. Solana’s supporters believe that it has the potential to challenge Ethereum, the dominant smart contract platform, by offering faster, cheaper, and more scalable solutions.
Binance apologized for any inconvenience caused by the temporary suspension and thanked its users for their patience and understanding.