Impressive Q4 Performance of Tron
According to new study by Messari, which was obtained by CoinUnited News, Tron, a decentralized platform, had a strong fourth quarter of 2022. Despite the difficult year for the cryptocurrency industry, Tron was nevertheless able to produce $47.9 million in revenue, a 25% increase from the previous quarter.
Record-Breaking Results Despite Difficulties
The cryptocurrency market has seen turbulence in 2022, with poor macroeconomic conditions and the demise of notable businesses like FTX having an impact on the whole sector. Despite these difficulties, Tron overcame them to post strong Q4 performance. The platform experienced an increase in average daily transactions to 6.5 million and a jump in average active daily addresses from 2.6 million in Q3 to 3.1 million.
Improvements and Diversity
Tron has made a number of modifications to increase functionality and user experience, and it has also collaborated with the DeFi, GameFi, and NFT sectors to diversify its investment approach. The platform also made an attempt to strengthen its community by joining the Enterprise Ethereum Alliance and participating in the third Grand Hackathon. Additionally, Tron burnt TRX worth over 800 million in Q4, which is around 40% higher than in Q3.
dominance of stablecoins
Following a decline in Q3, Tron’s stablecoin, USDT, recovered its leadership in Q4, rising back to 94%. The number of wallets holding sections of USDD, the stablecoin created by Tron, increased somewhat, while the average quantity of holdings shrank.
Justin Sun’s Future Predictions
Justin Sun, the CEO of Tron, has set a lofty objective for the platform, with the prospect that TRX would be accepted as legal tender in nations like Dominica and Sint Maarten. The possibility of the platform receiving recognition in Sun’s native China has also been addressed.