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

Crypto Market Faces Volatility Ahead Of Trump Tariff Pause Expiration

News | Editor Choice | Policy & Regulations

Crypto Market Faces Volatility Ahead of Trump Tariff Pause Expiration

The crypto market is entering a sensitive phase as the Trump tariff pause nears its end and nearly $15 billion in Bitcoin options are set to expire, putting significant pressure on investor sentiment.

Pi Coin Faces Selling Pressure Ahead Of Pi2day

News | Editor Choice | Pi Network

Pi Coin Faces Selling Pressure Ahead of Pi2Day

Ahead of the Pi2Day event on June 28, Pi Coin is under strong selling pressure while Pi Network announces a series of new updates, including the KYC Sync feature and upgrades to the Pi Browser aimed at improving user experience and accelerating the transition to Mainnet.

Bitcoin Could Drop To $100,000 Soon

Bitcoin | Editor Choice

Bitcoin Could Drop to $100,000 Soon

Although Bitcoin has surged following the stabilization of the Middle East situation, it could still fall below the 100,000 USD mark in the near future.

Coinbase Stock Hits New High As Analysts Split On Future Rally

News | Altcoin | Editor Choice | Policy & Regulations

Coinbase Stock Hits New High as Analysts Split on Future Rally

Coinbase (COIN), the crypto exchange giant, has just set a new all-time closing high, despite growing concerns that the stock may be due for a short-term correction.

Ai Crypto App Users Double This Year

Editor Choice | Altcoin

AI Crypto App Users Double This Year

According to a report from DappRadar, there are approximately 4.5 million wallets using AI applications on the blockchain, marking an 86% increase this year.