Bitcoin

USDC

TRON

Coin

<ul>
 <li>TRON achieved an all-time high in fee revenue, reaching $1.758 million on February 20.</li>
 <li>Circle ceases USDC support on the TRON blockchain by February 2025.</li>
</ul>
TRON’s fee revenue soared to a record-breaking $1.758 million on February 20, marking a significant milestone for the blockchain network. This <a href="https://thenewscrypto.com/tron-unveils-ambitious-plans-for-bitcoin-layer-2-integration/" target="_blank" rel="noopener noreferrer nofollow">significant momentum</a> was propelled by the burning of 12,622,236 TRX tokens, a practice where transaction fees are eliminated by destroying tokens, aligning with TRON’s deflationary model.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/S_PKYqL7PFhbn4Vo_iR4zmX3n7c01CSTu2wG-zXs-j-r4yx-3-xKzYbpacKyS_oUQhhM0GovCouyspT6XS2yydKOJlUmK5FoxNtknF51egYWSNwvPJRtGrpg9Y2gTr1legT7xc4iUGQ7IiLxkhB9LA" alt="">
 <figcaption class="wp-element-caption">TRON Network Revenue (Source: <a href="https://tronscan.org/#/data/charts/network/revenue" target="_blank" rel="noopener noreferrer nofollow">Tronscan</a>)
 </figcaption>
 </figure>
</div>
Following all-time revenue growth, TRON’s daily accrued revenue places it fifth among blockchain protocols. Ethereum, Uniswap, Lido, and Bitcoin lead the pack, generating $12.06 million, $3.05 million, $3 million, and $1.66 million, respectively. Further, in terms of Total Value Locked (TVL), TRON stands at $8.625 billion, securing the second position after Ethereum’s $46.74 billion TVL.
However, Circle’s recent announcement added a twist to TRON’s trajectory. The issuer of the widely-used USD Coin (USDC) stablecoin declared its decision to discontinue support for USDC on the Tron blockchain by February 2025. Circle encourages users to transition their USDC holdings to platforms facilitating transfers to supported blockchains.
This move by Circle follows its denial of allegations linking USDC funding to terrorist organizations, reflecting a strategic shift in its blockchain support.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/x74nw1-En4qOwCMC6DJzPu2cRBs3RjfSg-NjJd5Yh5W4l7Se9bj8S4ebtVhJar-84orbAyg3XUtYhP3uQykAun-7zi0VnTflKLzEYgcvNmgRwbvsdVQmlHDdOchRMmjw93BgCMoO1bX8Bui5sxaumQ" alt="">
 <figcaption class="wp-element-caption">
 TRON (TRX) Price Chart (Source: <a href="https://coinmarketcap.com/currencies/tron/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
 </figcaption>
 </figure>
</div>
Despite the USDC setback, TRON’s <a href="https://thenewscrypto.com/tron-trx-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">native token</a>, TRX, surged to a 32-month high, reaching $0.14, a level unseen since May 10, 2021. Nonetheless, TRON’s daily trading volume witnessed a 28% decline, falling to $351 million, as per CoinMarketCap data.

TRON Network Hits All-Time High in Fee Revenue

TheNewsCrypto

Other articles published on Feb 22, 2024

OCC acting head compares crypto-asset intermediaries to corrupt bank

Outlier Ventures Reveals the Nine Teams in the Bitcoin Base Camp Cohort with Plassa Capital and I...

Binance Coin Blasts Past This Key Level: Here’s How High BNB Prices Could Go If Uptrend Persists

Ethereum Layer 2 Tokens Poised for Pump? Here Are the Targets

Paris Saint-Germain: First Soccer Club to Become a Chiliz Validator

Arianee Develops New Layer-2 Network on Polygon for Luxury Brands

Join our free newsletter for daily crypto updates!