1.42 million dollars income in 24 hours
As of July 23rd, Tron surpassed Ethereum in revenue generation in the United States. On July 23, SpotEther outperformed the network that saw the launch of exchange-traded funds (ETFs).
According to Defillama data, Tron collected $1.42 million in revenue in the last 24 hours, compared to Ethereum's $844,276 in the same period.
Although Spot Ether (ETH) ETFs drive $2.2 billion in inflows, according to the latest CoinShares report, Ethereum has accumulated roughly $600,000 less in fees than Tron in the past seven days since its publication on July 30.
Related: Tron Develops Gas-Free Stablecoin for Ethereum and Tron Chains
Income comparison
As of July 23rd, TRON holds the number one spot in earnings, with a seven-day earnings of $8.67 million compared to ETH's $8.08 million.
Third-placed Solana earned more than ETH's 24-hour earnings of $940,009, but underperformed over the past seven days with earnings of $6.38 million.
Over the past 30 days, ETH ranks highest with $52.48 million in revenue, followed by Tron's $40.2 million and Pump.Fun's cool $25.83 million, surpassing Solana.
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Reasons for driving
On July 6, Tron founder Justin Sun revealed that his team was building a gasless stablecoin solution for peer-to-peer transfers.
Hoping to integrate this solution on the Tron blockchain in the fourth quarter of 2024, Sun explained that the payments will be fully “covered by their own stable coin.”
The founder of Tron also explained that he plans to integrate the stable coin on Ethereum and other public chains compatible with the Ethereum virtual machine.
Related: Tron Network Deposit Drops to 6-Month Low as TRX Price Rallies – Trouble in Paradise?
Fall in deposits
According to Defillama, Tron's blockchain total value locked (TVL) fell to a six-month low of $7.5 billion on June 26, indicating that investors are pulling out of ecosystem funds.
On June 27, the Tron (TRX) token posted a 9.5% month-to-day increase, outperforming Solana (SOL). Sun t moved 173.8 million TRX worth $21.4 million to a Binance deposit address.
Shockingly, 75% of the total network deposits on Tron at the time were concentrated in a single decentralized application, Justland, which saw a 15% reduction in assets held within 30 days.
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