Tron Surpasses Ethereum in Revenue Generation
30 Jul, 2024 ● Coin news
Since July 23, Tron has outperformed Ethereum in revenue generation, even surpassing the network that launched spot Ether exchange-traded funds (ETFs) in the United States on that same day.
DefiLlama data shows that Tron generated $1.42 million in revenue over the past 24 hours, compared to Ethereum’s $844,276 during the same period.
Despite the launch of spot Ether ETFs bringing in $2.2 billion in inflows, as highlighted in the latest CoinShares report, Ethereum collected approximately $600,000 less in fees than Tron over the last seven days, as of the publication date on July 30.
Since July 23, Tron has held the top position in revenue generation, recording a seven-day revenue of $8.67 million compared to Ethereum’s $8.08 million.
Solana holds the third position, exceeding Ethereum’s 24-hour revenue with a total of $940,009 but underperforming over the last seven days with $6.38 million.
Over the past 30 days, Ethereum has remained the leader with $52.48 million in revenue, followed by Tron’s $40.2 million and Pump.fun’s $25.83 million, which outperformed Solana.
On July 6, Tron’s founder Justin Sun announced that the team had been developing a gasless stablecoin solution for free peer-to-peer transfers.
Sun explained that the fees would be “entirely covered by the stablecoins themselves,” with plans to integrate this solution on the Tron blockchain in the fourth quarter of 2024.
He also mentioned plans to integrate the stablecoin on Ethereum and other Ethereum Virtual Machine-compatible public chains.
According to DefiLlama, Tron’s total value locked (TVL) dropped to a six-month low of $7.5 billion on June 26, indicating that investors were withdrawing funds from the ecosystem.
On June 27, Tron’s TRX token experienced a 9.5% month-to-date increase, outperforming Solana’s SOL. Sun moved 173.8 million TRX worth $21.4 million to a Binance deposit address.
Alarmingly, 75% of the total network deposits on Tron at the time were concentrated in a single decentralized application, JustLend, which saw a 15% decrease in assets held over 30 days.
Sources:
https://cointelegraph.com/news/tron-surpasses-ethereum-revenue-generation
