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Tron’s Revenue Reaches $2.12 Billion in 2024: Ethereum, Solana Trail Behind

Tron’s (TRX) price reached an all-time high of $0.44 in the first week of December 2024, smashing previous records amid a crypto-wide bull run that gained steam after Donald Trump’s presidential win. TRX’s return to the 10th position by market capitalization has brought a sense of revival to the community, yet its price continues to struggle, down over 43% from its newly established peak and stuck around the $0.25 level for nearly two weeks. Despite this, Tron’s monthly revenue has steadily increased. Tron Tops Revenue Rankings According to the latest findings by Lookonchain, the Tron network has seen a significant surge in revenue over the past 30 days, reaching approximately $330 million – an increase of 39.7% compared to the previous month. As a result, revenue climbed to $764.11 million over the past 90 days. In the third quarter of 2024, Tron recorded a significant revenue surge that can be attributed to the rapid success of SunPump, its token launcher platform tailored for meme coins. SunPump gained traction starting August 16, with activity skyrocketing in the two weeks that followed. Zooming out, this growth has contributed to more than 115% year-on-year rise in the network’s total revenue for 2024, which now stands at $2.12 billion. This is further validated by CryptoDep’s data, which shows Tron topping the blockchain revenue charts for 2024. This placed Tron ahead of Ethereum, which trails behind with $2 billion in revenue. Meanwhile, Solana, despite its impressive 3,028% growth trend and $90.9 billion market cap, remains far behind Tron in revenue generation. Similarly, Base and other emerging blockchains, such as Arbitrum, with $44.7 million, and Optimism, with $37.9 million, lag significantly behind. A Bullish Reversal For TRX? Nevertheless, the cryptocurrency market as a whole turned bearish post-Christmas, with TRX suffering significant losses. The holiday season has been a lull for the crypto, but it could soon find a local bottom.7 Resistance zones are anticipated at $0.40 and $0.49. Speculations about asset manager Grayscale and Tron founder Justin Sun’s recent initiatives have driven community interest. The post Tron’s Revenue Reaches $2.12 Billion in 2024: Ethereum, Solana Trail Behind appeared first on CryptoPotato . nft.news

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Bitcoin Retests $95,000 Amid 4.2% Surge, Is A New Year Rebound Coming?

As the year ends, a renowned analyst suggested that Bitcoin (BTC) could have a New Year rebound after the flagship crypto surged by 4.2% to retest a key level. Related Reading: Altcoins To Explode In Early 2025: Analyst Says “Grand Finale” Is Around The Corner Bitcoin Sees End-On-Year Slowdown Bitcoin has struggled to hold the mid-zone of its one-month price range as the crypto market experiences an end-of-year slowdown. In December, BTC surpassed the $100,000 barrier for the first time, reaching a new all-time high of $108,353 mid-month. Over the last 30 days, the flagship crypto has moved between $90,000 and $108,000, hovering between $96,000 and $102,000 for most of the month. Nonetheless, Bitcoin has registered a 10.5% decline since hitting its ATH, failing to hold the $98,000 level over the last two weeks. The largest cryptocurrency by market capitalization saw a brief recovery on December 25 but quickly lost its Christmas rally gains. Since then, BTC’s price recorded its deepest retrace since the start of December. Bitcoin fell below the crucial $92,000 support zone on Monday, dipping to $91,530 before recovering, raising concern about BTC’s monthly close. However, New Year’s Eve started with a 4.2% surge throughout the morning, fueling end-of-year optimism about a price rebound. The cryptocurrency’s price moved from $92,000 to $96,000 before retracing to the $95,000 support zone. As the BTC’s price climbed, crypto analyst Ali Martinez noted that the TD Sequential showed a buy signal on the 12-hour chart, potentially signaling a New Year’s Day price bounce. ‘All Is Well’ For BTC’s Rally Martinez suggested that “a sustained close above $94,700 could lead to a rebound to $97,500.” As the analyst previously pointed out, this level is one of BTC’s most significant support zones, and reclaiming it is key for the cryptocurrency’s short-term rally. On the contrary, “losing $92,500 as support will invalidate the bullish signal,” Martinez added. Losing this level could also send BTC to the $70,000 level based on the UTXO Realized Price Distribution (URPD) chart. The analyst has stated that a 25% crash to the $70,000 mark is possible, as the URPD chart shows minimal support below the key support wall. Related Reading: Ethereum’s Large Consolidation Trend Points To Possible Price Explosion To $8,000 Meanwhile, James Van Straten noted that “all is well” despite BTC’s current price action. The analyst highlighted that “this cycle as with the previous three cycles for BTC, all saw corrections at this point after the halving,” adding that the “corrections are starting later and finishing later. Maybe, to do with elongated cycles.” As of this writing, Bitcoin is trading at $94,949, a 1% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com nft.news