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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/14/2024

Tron Network Surpasses Ethereum Revenue Over the Past 90 Days

According to data from DefiLlama, the Tron network generated revenue of up to $1.31 million in just the past 24 hours. Over the past 90 days, the Tron network has surpassed Ethereum in revenue, generating approximately $435 million in transaction fees compared to Ethereum's roughly $364 million in fee revenue, according to data from Token Terminal. Tron founder Justin Sun highlighted the network's 30-day revenue performance, stating that Tron's protocol revenue has "surpassed 50% of Ethereum's rev

Tron Network Surpasses Ethereum Revenue Over the Past 90 Days

According to data from DefiLlama, the Tron network generated revenue of up to $1.31 million in just the past 24 hours.

Over the past 90 days, the Tron network has surpassed Ethereum in revenue, generating approximately $435 million in transaction fees compared to Ethereum's roughly $364 million in fee revenue, according to data from Token Terminal.

Tron founder Justin Sun highlighted the blockchain network's 30-day revenue performance, stating that Tron's protocol revenue has "surpassed 50% of Ethereum's revenue." Sun also made a bold prediction for Tron's future:

"If this trend continues, Tron's protocol revenue could exceed $2 billion this year, making it the most profitable blockchain on earth!"

USDT payment volume on the Tron network has surged to roughly one-third of Visa's total payment volume during its second business quarter of 2024, reaching $1.25 trillion in on-chain payment transactions.

Could Tron Become the Primary Ecosystem for Stablecoin Payments?

Sun revealed that the Tron team is working to introduce a gas-free stablecoin for the Tron and Ethereum networks in July 2024, with plans to roll it out to other EVM-compatible blockchain ecosystems in the future.

This would allow users on these networks to send stablecoins peer-to-peer without paying network fees, significantly boosting the viability of these products for micropayments, business payments, and cross-border remittances.

Tron Outpaces Ethereum: $1.42 Million in Revenue Within 24 Hours

In 2024, Tron also became the second-largest blockchain network for stablecoin transfers by dollar value, trailing only the Solana network.

Trouble in Paradise

Despite Tron's impressive revenue figures and stablecoin innovation, the network still lags on certain metrics. In June 2024, Tron's total value locked (TVL) — a measure of capital locked in the network — dropped to a six-month low of approximately $7.6 billion, according to DefiLlama.

Tron's TVL edged higher in July, reaching approximately $8.7 billion, before pulling back to around $7.6 billion in August, where it has remained at the time of writing.

Interestingly, the decline in TVL coincided with a notable price rally in TRX, which posted a 9.5% gain in June 2024.