The Bitcoin-focused, EVM-compatible Plasma chain raised capital from friends and family, including Tether CEO Paolo Ardoino.
Data from Dune highlights that since early August, SunPump has been instrumental in launching over 90,800 meme coins on the Tron network, significantly contributing to Tron's revenue and market presence.
TL;DR Record Revenue: TRON achieved an all-time high revenue of $151.2 million in Q3 2024, driven by the success of its SunPump memecoin launchpad and a 487% increase in DeFi transactions.
Tron's SunPump memecoin launchpad boosted the blockchain's Q3 revenue to a record $151.2 million, driven by a surge in token launches and increased DeFi activity.
Tron's memecoin launchpad, SunPump, has driven the blockchain's quarterly revenue to an all-time high of $151.2 million in the third quarter of 2024, according to a report by Messari.
Tether has reached a remarkable benchmark: its USDT stablecoin has amassed a user base that matches the entire population of the United States. Recent figures indicate that more than 330 million on-chain wallets have interacted with USDT by the end of the third quarter of 2024, a statistic that notably excludes users who utilize USDT solely through centralized exchanges like Coin base and Binance.
TRON network sees substantial revenue growth and increased activity, primarily driven by meme coin popularity and stablecoin transfers
The Tron network has made headlines with an extraordinary 170% surge in its revenue, highlighting its growing influence within the blockchain and decentralized finance (DeFi) sectors. According to Look on chain, a well-regarded on-chain analytics platform, Tron's revenue climbed from $2.69 million last year to an impressive $7.28 million this year.
Tron is making waves in the crypto world with incredible growth over the past ten months. Its new memecoin launchpad, SunPump, has helped launch over 90,823 tokens, sparking a massive 487% increase in activity. This surge pushed Tron's blockchain quarterly revenue to a record-breaking $151.2 million, a 30% jump from the previous quarter.
Nearly a third of Tron's record $151 million quarterly revenue came from its new memecoin launchpad SunPump over a two week period.
Tron is already one of the top performers in the top 10, looking at its impressive growth over the last ten months. The smart contracts platform dominates USDT transfers while also making inroads into meme coins and snapping market share from Solana.
TRON's $200 million fee surge signals bullish activity and potential for a significant rally.
Tether's USDT, the largest crypto stablecoin, recently celebrated its 10th year in the industry. The company's growth has been impressive, thanks to its steady user base, holdings that include $97 billion in US government bonds, and its plans to partner with US law enforcement agencies to strengthen its brand.
Toncoin's rising adoption and USDT integration suggest a bullish long-term outlook.
TRON's meme ecosystem did not grow as expected, fizzling out after a brief peak in August. New meme creation is almost at a standstill and few memes are trending on TRON, except for the heavily promoted SunDog.
Venezuelans have ramped up the use of Tether's USDT, as it has become one of the largest sources of dollar liquidity in national markets.
The cryptocurrency market has seen volatility in recent weeks, and TRON (TRX) is no exception. After a period of consolidation, TRON's price currently hovers around $0.1599, making it one of the altcoins to watch.
After experiencing a strong pullback during the final week of August, the Tron price has regained momentum and is currently trading at a discount of ~5%. This hints at a high possibility of this altcoin achieving a new yearly high during the upcoming time.
TRON price has undoubtedly been one of the best performers in the past couple of months owing to its very vocal and dedicated founder, Justin Sun. However, this analysis reveals that TRX's reaching $0.5 may not be what everyone expects.
Tether is the most used stablecoin in the crypto ecosystem as users consider it an alternative to fiat.
Tether Holdings, the company behind the world's most widely used stable coin, USDT, is making a strategic move into the commodity trading sector. As the company seeks new avenues to deploy profits amid a recovering market, Tether is exploring lending options specifically tailored for commodity trading firms.
New data from Tether reveals that the number of people who have adopted the firm's USDT is now equivalent to the entire population of the United States.
Tether's USDT user growth saw its best quarter in Q3 and has increased by 9% on average over the last 12 months, cushioning the firm's possible expansion into more traditional finance markets. Tether reported that 36.
The world's largest stablecoin, USDT, now has 330 million users on-chain, according to the latest insights shared by its issuer, Tether, on October 16.
Stablecoin issuer Tether Holdings Ltd is reportedly considering venturing into commodity trade financing amid a growing cash pile. According to a Bloomberg report, Tether Holdings, which generated $5.2 billion in net profits in the first half of 2024, is exploring the possibility of providing loans to commodities trading firms.
While the crypto market continues to grow, more experienced analysts are looking at a titan that may enter the market soon — DTX Exchange. As Tron (TRX) and Dogecoin (DOGE) are facing resistance, DTX Exchange is steadily entering the scene as a crypto to buy for gains.
Donald Trump's 2024 presidential campaign has seen a notable influx of cryptocurrency donations. A political action committee (PAC) supporting Trump pulled in $7.5 million during the third quarter, underscoring a growing interest from the crypto community. Trump Campaign Receives $7.
Toncoin price showed a modest 0.2% loss on Wednesday's U.S. trading session, trading at $5.2. The slight downtick forms a neutral candle in the daily chart, continuing the consolidation trend intact since early October.
Tether reached 330 million USDT on-chain wallets by the end of Q3 2024, excluding centralized platform users.
TL;DR USDT has reached a record 330 million wallets and blockchain accounts by the end of the third quarter of 2024. The growth includes the addition of 36.25 million new accounts, consolidating the stablecoin as a pillar of the crypto market.
The Tron network has grown to over 153 million holders mostly holding its stablecoins and speculating on its meme coins led by Sundog (SUNDOG).
Tether, the company behind the USDT stablecoin, has announced that approximately 330 million on-chain wallets and accounts had received the digital asset as of the end of Q3 2024. These accounts and wallets are a critical measure of user engagement.
Tether Holdings, the issuer of the widely-used stable coin USDT, is venturing into the commodities trading sector, considering lending options to firms within the industry. This strategic exploration is currently in its early stages, as Tether looks to harness the potential of cryptocurrencies to revolutionize trade finance.
Tron (TRX) price has gradually been grinding up since early 2023, despite the short-term crypto correction experienced since early March this year. The large-cap altcoin, with a fully diluted valuation of about $13.
Italy is preparing to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42%, according to Deputy Finance Minister Maurizio Leo, who shared the news during an Oct. 16 conference. Leo explained that as cryptocurrencies, particularly Bitcoin, gain popularity, the government anticipates raising the withholding tax rate from its current 26% to 42%.
The adoption of Tether's USDT has reached over 330 million on-chain wallets by Q3 2024, showcasing its global impact as a digital asset, according to Tether.io.
Tether Holdings, the issuer of the world's largest stablecoin, USDT, is reportedly exploring lending options for commodities trading companies as it seeks new ways to deploy this year's profits amid the broader market recovery.
The cryptocurrency market is experiencing renewed bullish momentum, with Bitcoin recently surpassing the $65,000 mark. Despite minor corrections, many crypto coins are witnessing a surge in demand.
Binance and the Delhi Police announced on Tuesday that they have teamed up to dismantle a large-scale renewable energy scam in India, seizing over $100,000 in USDT from fraudsters linked to a fake solar company.
The Delhi Police, in collaboration with Binance, have seized over 100,000 USDT linked to a sophisticated scam in India. According to a report from The Hindu, the operation was conducted on October 15, 2024.
In a recent collaborative effort, cryptocurrency exchange Binance partnered with Indian police to dismantle a sophisticated scam involving a fraudulent entity called “M/s Goldcoat Solar.” The scam, which falsely claimed to be part of India's renewable energy initiative, led to multiple arrests and the seizure of over $100,000 in Tether (USDT).
Fraudsters impersonated government officials to scam individuals into believing they were investing in a profitable solar power program.
Binance and the Delhi Police have dismantled a $100,000 scam, which misled investors with false claims tied to India's renewable energy initiatives.
TL;DR Tether's Strategic Shift: Tether is exploring lending opportunities in the commodities trading sector, aiming to provide quicker and more flexible funding options compared to traditional financial institutions. Addressing Financing Challenges: The initiative targets smaller commodity traders who struggle to secure credit, potentially streamlining payments and trades, and providing much-needed liquidity.
Tether, the company behind the USDT stablecoin, is exploring expansion into commodities trading and traditional finance while continuing to grow its core stablecoin business.
The firm has engaged in talks with various commodity traders about providing US dollar lending options.
The CEO Paolo Ardoino stated that it is an evaluation of opportunity.