Justin Sun's Tron has posted an impressive earning of more than $77 million for Q2 ‘2023. The earning represented a 26% growth compared to the previous quarter, and a whopping 1000% increase compared to the second quarter of 2022. Sun has lauded his blockchain firm for the profitable numbers this year.
TronDAO, the decentralized autonomous organization behind the seventh-largest blockchain by market capitalization, recently published its financial report for the second quarter of 2023. The report revealed that Tron had doubled its revenue compared to the previous year, while the QoQ growth came in at over 51%.
Crypto analytics firm Coin98 Analytics took to Twitter recently to share Tron’s performance in the second quarter of 2023. Tron also reported a 64.6% increase in its expenses, which went from $111.4 million in Q1 to $183.4 million in Q2. The most impressive metric was the 378% increase in Year-on-year earnings.
Apart from the traditional financials, TronDAO also posted some impressive network metrics. The average daily active addresses came in at 1.29 million, marking a 62% growth QoQ. Meanwhile, the average daily transactions jumped 91% year-on-year to reach a whopping 9.1 million. As for the negative stats, the network lost more than 29% of its core developers, although the YoY change remained green.
Tron’s code commits also decreased by 17% in the second quarter of 2023. The average total stake of Tron’s native token TRX price went down by 2.1% as compared to the previous quarter, although it was up 20.7% YoY. Meanwhile, the network’s total value locked (TVL) increased by 6.8% to $5.6 billion.
Justin Sun lauded his network’s performance in the second quarter of 2023. The crypto entrepreneur told his Twitter followers earlier today that the anticipation for Q3 results were running high following Tron’s impressive performance in Q2.
