Tron Network Hits Record Revenue in Q3

Tron Network Reports Record Revenue of $577 Million in Q3, Outpacing Top Blockchains Bitcoin and Ethereum in Quarterly Earnings

Azcnews Tron Network Hits Record Revenue In Q3

Tron’s Revenue Sets Record

According to data from Tronscan, Tron’s revenue in Q3 reached $577.2 million, with 74% coming from staking and 26% from coin burning. This information was also shared by Tron founder Justin Sun in an October 2 post on X.

Tron Posted $577 Million In Quarterly Revenue For Q3
Tron Posted $577 Million In Quarterly Revenue For Q3

Tron’s success is largely due to the increase in stablecoin activity on the network, along with its expansion into the memecoin market.

Data from Token Terminal shows that Tron’s total fees and revenue have surpassed major rivals Bitcoin and Ethereum, with quarterly revenue reaching around $56.3 million and $256 million, respectively.

It is important to note that the way blockchain networks generate revenue varies significantly, often through a complex combination of transaction fees, revenue, and other technical means. Therefore, comparisons based on revenue or fees alone may not accurately reflect a blockchain’s total revenue.

Tron is the second-largest stablecoin blockchain

Over $62 Billion In Stablecoins Are Currently Deployed On The Tron Network
Over $62 Billion In Stablecoins Are Currently Deployed On The Tron Network

Currently, Tron is second only to Ethereum as the second-largest stablecoin blockchain, accounting for nearly 35% of the total stablecoin market capitalization of $172 billion, according to data from DefiLlama.

The Tron network is particularly popular with users in emerging markets such as South America and Africa, where high inflation and concerns about local currencies often drive demand for stable assets such as Tether (USDT), a stablecoin pegged to the US dollar.

As of press time, Tether accounted for 98.3% of all stablecoin deposits and activity on the Tron network.

Justin Sun’s entry into the memecoin space has also given the network a bit of a revenue boost, with his memecoin implementation project called SunPump seeing some success.

SunPump, a replica of Solana’s memecoin launch platform pump.fun, generated $1 million in revenue in just 11 days after going live and has generated a total of $5.4 million since its launch on August 9.

Tron recorded its biggest day of revenue on August 21, when it generated over $5.4 million in just 24 hours, after Tether injected another $1 billion USDT into the network on August 20, according to data from DefiLlama.

(4 votes)

4.8/5

(4 votes)

Latest

Xrp Lawyer Refutes The Biggest Lie In The Crypto Industry

News | Editor Choice | Policy & Regulations

XRP Lawyer Refutes the Biggest Lie in the Crypto Industry

Ripple lawyer Bill Morgan firmly refutes accusations that XRP lacks legal clarity, calling it “the biggest lie” in the crypto industry today.

How To Participate In Wump Airdrop

Airdrops | Editor Choice

How to Participate in Wump Airdrop

Join the airdrop hunt for the Wump project, inspired by Telegram projects but developed on the Discord platform.

Meta Drops Bitcoin Purchase Proposal, Zuckerberg May Be The Opponent

News | Bitcoin | Editor Choice

Meta Drops Bitcoin Purchase Proposal, Zuckerberg May Be the Opponent

Meta has rejected a proposal to include Bitcoin in its asset class, showing that the tech giant remains cautious about the cryptocurrency investment trend even as many large businesses are gradually joining the game.

Elon Musk Launches Xchat Inspired By Bitcoin

News | Bitcoin | Editor Choice

Elon Musk Launches XChat Inspired by Bitcoin

Elon Musk has just unveiled XChat — a new messaging feature on the X platform that integrates Bitcoin-level encryption and is developed using the Rust programming language, promising to set a new benchmark for security and privacy in digital messaging.

Price Prediction For Pi By The End Of 2025

Pi Network | Editor Choice

Price Prediction for PI by the End of 2025

According to CoinDCX, the price of PI Coin may see an uptrend by the end of this year and could recover to the range of $2 to $2.8.