- Tron’s network activity hit $435 million, surpassing Ethereum’s $364 million.
- Its network revenue estimated to hit $2 billion in 2024.
Tron’s [TRX] network adoption has experienced exponential growth over the past three months. Despite the high crypto market volatility, the network has surged in address, revenue, and activities.
The increase in Tron’s adoption arises from increased stablecoins preference for the network. In the last 90 days, the Tron network has outpaced Ethereum [ETH] as well.
Tron surpasses Ethereum’s revenue
Per AMBCrypto’s look at Token Terminal, the network has hit a record $435 million in fees, while Ethereum lagged behind at $364 million.
Source: Token Terminal
Justin Sun shared the development, noting that,
“In the past 30 days, according to @tokenterminal, TRON’s protocol revenue has exceeded Ethereum’s protocol revenue by 50%. If this trend continues, protocol’s revenue could even surpass $2 billion this year, making it the most profitable blockchain on Eart.”
The surge in revenue shows heightened demand for the Tron network by institutions and individual users. Data from DefiLlama shows that Tron’s revenue had dominated in revenue earnings from fees.
In the last 24 hours, the network has generated $10.5 million in revenue with $197.8 million in trading volume.
Source: DefiLlama
What it means for stablecoins
Amidst this growth in revenue is Tether [USDT] payments through the network. According to Tether, their payments on the network rose to 1/3 of Visa’s payment.
The rise saw Tether’s total transactions through the network hit a payment volume of $1.25 trillion through the network.
Equally, the team behind Tron has worked hard through innovation to keep pace with the competition. For instance, the team aims to distribute the stablecoin to other EVM blockchain ecosystems.
Such a development is significant as it allows stablecoin transfers on peer-to-peer without network fees. The move will increase the applicability of various stablecoins among all users.
Realistic or not, here’s TRX market cap in BTC’s terms
Impact on TRX
Despite the surge in revenues and fees, Tron’s Total Value Locked declined from $10.3 billion to $7.5 billion during this period.
Source: Defillama
The trading volume has declined by 3.98% while the market cap has declined by 0.40 to $11.4 billion. As of this writing, $0.1312 after 0.38% decline over the past 24 hours, after a long month of decline by 1.51%.
- Tron’s network activity hit $435 million, surpassing Ethereum’s $364 million.
- Its network revenue estimated to hit $2 billion in 2024.
Tron’s [TRX] network adoption has experienced exponential growth over the past three months. Despite the high crypto market volatility, the network has surged in address, revenue, and activities.
The increase in Tron’s adoption arises from increased stablecoins preference for the network. In the last 90 days, the Tron network has outpaced Ethereum [ETH] as well.
Tron surpasses Ethereum’s revenue
Per AMBCrypto’s look at Token Terminal, the network has hit a record $435 million in fees, while Ethereum lagged behind at $364 million.
Source: Token Terminal
Justin Sun shared the development, noting that,
“In the past 30 days, according to @tokenterminal, TRON’s protocol revenue has exceeded Ethereum’s protocol revenue by 50%. If this trend continues, protocol’s revenue could even surpass $2 billion this year, making it the most profitable blockchain on Eart.”
The surge in revenue shows heightened demand for the Tron network by institutions and individual users. Data from DefiLlama shows that Tron’s revenue had dominated in revenue earnings from fees.
In the last 24 hours, the network has generated $10.5 million in revenue with $197.8 million in trading volume.
Source: DefiLlama
What it means for stablecoins
Amidst this growth in revenue is Tether [USDT] payments through the network. According to Tether, their payments on the network rose to 1/3 of Visa’s payment.
The rise saw Tether’s total transactions through the network hit a payment volume of $1.25 trillion through the network.
Equally, the team behind Tron has worked hard through innovation to keep pace with the competition. For instance, the team aims to distribute the stablecoin to other EVM blockchain ecosystems.
Such a development is significant as it allows stablecoin transfers on peer-to-peer without network fees. The move will increase the applicability of various stablecoins among all users.
Realistic or not, here’s TRX market cap in BTC’s terms
Impact on TRX
Despite the surge in revenues and fees, Tron’s Total Value Locked declined from $10.3 billion to $7.5 billion during this period.
Source: Defillama
The trading volume has declined by 3.98% while the market cap has declined by 0.40 to $11.4 billion. As of this writing, $0.1312 after 0.38% decline over the past 24 hours, after a long month of decline by 1.51%.
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