TRON

In this challenging market, recently TRON DAO made a post on X (previously Twitter) that gathered everyone’s attention. According to TRON’s recent post on X, in this quarter of 2024, its market cap increased by 15% and reached $10.25 billion. Basically,TRON (TRX) is an open-source blockchain platform that can run smart contracts and be used for building decentralized apps (dApps). TRON performance in Q1 of 2024&nbsp; 
With this 15% surge in TRON’s market cap, it shows consistent growth in this volatile and unpredictable market. Besides the market cap surge, TRON protocol revenue also hit a record, generated over $128.1 million in Q1 of 2024 and becoming a top 3 blockchain network.
In Q1 of 2023, it experienced revenue of $90 million. In Q2 of 2023, revenue reached $109.8 million. In Q3 of 2023, it hit $104.9 million, and in Q4 of 2023, revenue was $119.4 million. Now, in Q1 of 2024, it has generated a massive $128.1 million. Since the last Q1 of 2023, the TRON protocol has experienced consistent revenue growth, indicating interest from developers and institutions.
Despite the increase in revenue, TRON’s circulating market cap has consistently increased every quarter since Q1 of 2023, rising from $5.9 billion to $10.7 billion in Q1 of 2024. However, all this data highlights investors’, developers’, and institutions’ interest in the TRON network. TRX price-performance analysis&nbsp; 
As of writing, the overall cryptocurrency market is struggling to gain momentum, including top cryptocurrencies like Bitcoin, Ethereum, Solana, and others. However, currently, TRON (TRX) token is trading near the $0.11 level, and in the last 24 hours, it experienced an impressive 2.7% upside momentum. Looking at the performance of the TRX token over a longer period, in the last 7 days, it gained 8% upside momentum, while in the last 30 days, where every <a href="https://news.todayq.com/this-might-be-the-reason-why-crypto-market-is-down/" rel="noopener noreferrer nofollow">cryptocurrency has fallen</a> massively due to CPI data, geopolitical tension, and others, TRX experienced only a 3% downside momentum.
According to expert technical analysis, TRX is looking bullish following the completion of Bitcoin halving. While the majority of cryptocurrencies failed to gain momentum, TRX experienced over an 8% upside momentum. There is a high possibility that in the coming days, it may hit the $0.123 level as a first small target. Furthermore, it could surge by more than 20% and reach the $0.14 level.

TRON Q1 revenue hits $128 million, TRX bull run to begin now?

Todayq News

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