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’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
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.
