Bitcoin

USDC

TRON

Gains

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/tron-network-gains-spotlight-with-surging-revenue-and-strategic-moves" rel="noopener noreferrer nofollow">TRON Network Gains Spotlight with Surging Revenue and Strategic Moves</a><br></p>
<p style="text-align: justify">The TRON network has recently grabbed headlines in the cryptocurrency ecosystem following a sequence of significant events. Highlighted was an announcement pertaining to Bitcoin Layer-2 support, touted as a vital development by TRON’s founder, Justin Sun. Additionally, the market was rocked by a pivotal announcement regarding the suspension of USD Coin (USDC) operations on the TRON blockchain.</p>
<h2 id="tron-s-striking-revenue-increase">TRON’s Striking Revenue Increase</h2>
<p style="text-align: justify">On February 20th, TRON’s daily network revenue skyrocketed to a record $2 million. Concurrently, stablecoin giant Circle declared its decision to cease USDC offerings on the TRON blockchain. Revenue on TRON primarily stems from the destruction of <a href="https://en.bitcoinhaber.net/exciting-developments-in-justin-suns-htx-dao-stir-crypto-community" rel="noopener noreferrer nofollow">TRX</a> tokens used to pay transaction fees on the network. Reports from Tronscan indicate that 13 million TRX tokens were burnt that day, reducing the total supply.</p>
<h2 id="circle-alters-usdc-strategy-on-tron">Circle Alters USDC Strategy on TRON</h2>
<p style="text-align: justify">The following day, Circle announced an intent to discontinue its USDC-related activities on TRON. Circle’s strategy aims to uphold USDC’s status as the second-largest stablecoin by market cap, focusing on ensuring its reliability and security. This move comes amidst a broader landscape shift within the TRON ecosystem.</p>
<p style="text-align: justify">Recent Tronscan data also points to a surge in daily active addresses on the TRON network, with a notable 8% increase in active accounts executing at least one transaction after Circle’s decision. However, there was a concomitant 3% dip in new wallet and contract account activities since February 20th.</p>
<p style="text-align: justify">Despite the increase in active users, the TRX token price experienced a slight downturn in the past 24 hours. This decrease in token value coincided with a general market trend, including a 1.31% fall in Bitcoin’s price. Nonetheless, TRX’s slight 1% decrease suggests it may be weathering market conditions more robustly than Bitcoin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/tron-network-gains-spotlight-with-surging-revenue-and-strategic-moves" rel="noopener noreferrer nofollow">TRON Network Gains Spotlight with Surging Revenue and Strategic Moves</a></h5>

TRON Network Gains Spotlight with Surging Revenue and Strategic Moves

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