- TRON’s October revenue reached $205 million, driven by DeFi and meme coins.
- Its new meme coin platform, SunPump, saw rapid growth, with over 90,000 tokens created.
- TRON partnered with Chainlink to enhance DeFi security through the integration of Chainlink Data Feeds.
TRON has generated $205 million in revenue for October. Justin Sun, the founder of TRON, confirmed this record in a post on X today. He disclosed that the latest figure marks the platform’s second-highest monthly earnings, following August’s $220 million record.
Notably, growth in DeFi, memecoins, and NFTs is driving TRON’s continued momentum in 2024.
TRON’s Revenue Drivers
TRON’s expanding DeFi ecosystem remains central to its revenue growth. The platform’s Total Value Locked (TVL) reached $6.9 billion, a 2.5% increase in the last 24 hours. This uptick highlights TRON’s robust DeFi community, where transactions continue to generate significant fees and enhance the platform’s market position.
The recent launch of TRON’s meme coin platform, SunPump, has significantly contributed to revenue gains. Since its launch, over 91,410 tokens have been created on SunPump, according to Dune Analytics. This activity has boosted TRON’s all-time revenue to 35 billion TRX.
Additionally, a recent update from the TRON Community confirmed the burn of 10,592,317 TRX on October 31. This move signals a strong commitment to deflationary practices and long-term value growth for the network. This burn contributed to a net negative production ratio of 5.5 million TRX, reinforcing TRON’s aim to reduce circulating supply and potentially increase token value.
However, TRX, TRON’s native token, fell 1.6% in the last 24 hours, trading at $0.1673. This reduced its two-week gain to 5.4%.
TRON DAO Partners with Chainlink
TRON DAO has also joined Chainlink’s SCALE program, a move announced by Justin Sun. This collaboration brings Chainlink Data Feeds to TRON as the platform’s official oracle provider.
Once fully implemented, the $6.9 billion in TRON’s DeFi TVL will be secured by Chainlink, creating new opportunities for both Chainlink and TRON’s ecosystem, including stablecoins and real-world assets (RWA).
Justin Sun made this announcement following the SmartCon 2024 event, where Chainlink disclosed that its Data Feeds currently secure tens of billions in TVL for various DeFi protocols.
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