Tron Network Revenue Surpasses Ethereum in Past 90 Days
Date: 2024-08-16 Author: Henry Casey Categories: BLOCKCHAIN
Tron founder Justin Sun noted the blockchain network’s 30-day revenue performance, which the Tron founder said “exceeded Ethereum protocol revenue by 50%.” Sun then offered a forward-looking recommendation for Tron:
“If this trend continues, Tron’s protocol revenue could even surpass $2 billion this year, making it the most profitable blockchain on Earth!”
Tron’s dollar-denominated transaction settlements have grown to about a third of payment giant Visa’s total settlement volume for the second business quarter of 2024, reaching $1.25 trillion.
Sun said that the Tron team is working to introduce a gas-free stablecoin to the Tron and Ethereum networks in July 2024, with plans to deploy the stablecoin to other Ethereum Virtual Machine blockchain ecosystems in the future. This will allow users of these networks to send stablecoins without paying network fees, greatly increasing the viability of these products for small payments, enterprise settlements, and cross-border remittances.
In 2024, Tron also became the second-largest blockchain network for stablecoin transfers in dollar terms, behind only the Solana network.
Despite Tron's impressive revenue numbers and stablecoin innovation, the network is lagging in some metrics. According to DefiLlama, its total value locked (TVL) - a measure of capital locked on the network - fell to a six-month low of about $7.6 billion in June 2024.
