Tron Records 90.04M Revenue in Q1 2023 Despite SEC Crackdown 1 jpg

Tron Reports Impressive First Quarter Earnings of $90.04 Million in 2023 Despite SEC’s Crackdown

A blockchain network called Tron has recently disclosed its earnings for the first quarter of 2023, which amounted to $90.04 million. Compared to the last quarter, this is an incredible 88% rise from $47.96 million. It is also worth noting that the recent lawsuits filed by the United States Securities and Exchange Commission aimed at Tron ecosystem coins did not significantly affect the network’s activities.

What is TRX

The blockchain’s average daily transactions increased by 7.7%, and they almost hit seven million in the first three months. This increase can be partly attributed to the rise in staking activities, taking up 3% of all TRX transactions. Meanwhile, staking transaction volume surged by 197% when compared to the previous quarter.

The use of the USDT smart contract remained the key driver of contract execution. However, whether due to committee proposal No. 79, which increased the amount of energy needed to execute smart contracts, transaction fees have also increased.

Compilation by Coinbold