Tron Network Generated $48 Million in Revenue in Q4 2022

Must read

Jeff Horseman
Jeff Horseman
Jeff Horseman got into journalism because he liked to write and stunk at math. He grew up in Vermont and he honed his interviewing skills as a supermarket cashier by asking Bernie Sanders “Paper or plastic?” After graduating from Syracuse University in 1999, Jeff began his journalistic odyssey at The Watertown Daily Times in upstate New York, where he impressed then-U.S. Senate candidate Hillary Clinton so much she called him “John” at the end of an interview. From there, he went to Annapolis, Maryland, where he covered city, county and state government at The Capital newspaper. Today, Jeff writes about anything and everything. Along the way, Jeff has covered wildfires, a tropical storm, 9/11 and the Dec. 2 terror attack in San Bernardino. If you have a question or story idea about politics or the inner workings of government, please let Jeff know. He’ll do his best to answer, even if it involves a little math.
  • Tron also saw an increase in daily active addresses and daily transactions.
  • The number of daily active addresses increased from 2.6M in Q3 to 3.1M in Q4.

Financial data analytic firm Messari said that in the fourth quarter of 2022, the blockchain platform Tron Network produced $47.9 million in revenue, up 25% from the previous quarter. Additionally, the company saw an increase in daily active addresses and daily transactions.

Most recently, Messari detailed how the cryptocurrency market had a “rollercoaster” year in 2022. First, the unfavorable macroeconomic circumstances took their toll, and then, in the spring, Terra crashed, compounding the situation. A market collapse and industry image were further damaged by the demise of once-prominent FTX, adding to the turmoil.

Successful Year Despite Turmoil

Despite all that happened in the fourth quarter, Tron still had a very successful year. During that time span, the platform led by Justin Sun brought in about $48 million in revenue, up 25% from Q3 numbers. With a net income of $48.5 million, the second quarter of 2022 is still the most successful.

Growth in both the number of users and the network activity on the Tron network was also noted. The number of daily active addresses increased from 2.6 million in Q3 to 3.1 million in Q4, and the number of daily transactions hit 6.5 million when compared to 5.3M during the previous time period. The average number of trades per second increased to 76 from 62 in the third quarter, but the average cost per trade stayed at $0.08.

Moreover, the platform has implemented a number of modifications to enhance its functionality and user experience and to diversify its investment strategy by partnering with the DeFi, GameFi, and NFT industries.

 Recommended For You:

Crypto Exchange Binance Withdraws Tron Network Withdrawal Fees Hike

Latest article

More articles