Tron Network has surpassed Ethereum’s revenue in the last 90 days
According to data from Token Terminal, the Tron Network (TRX) has surpassed the Ethereum Network (ETH) in revenue over the past 90 days, collecting nearly $435 million in payouts.
Tron founder Justin Sun highlighted the 30-day earnings performance of the blockchain network “outpacing Ethereum protocol earnings by 50%” according to Tron's founder. The Sun gave Tron some forward-looking guidance:
“If this trend continues, TRON's protocol revenue could exceed $2 billion this year, making it the most profitable blockchain on Earth!”
Tether (USDT) settlements on the Tron network for the second quarter of 2024 were up nearly 1/3 of the total settlement volume of payment giant Visa, which reached $1.25 trillion in transaction settlements on the Tron network.
Tron to be the home ecosystem for a stable coin settlement?
Justin Sun revealed that the Tron team is working on introducing a gasless stablecoin for the Tron and Ethereum networks by July 2024.
This allows users on these networks to send stablecoins peer-to-peer without paying network fees, which greatly increases the potential of these products for small fees, corporate settlements, and cross-border remittances.
Related: Tron Surpasses Ethereum: $1.42M in Revenue in 24 Hours
In the year In 2024, Tron became the second largest blockchain network for stablecoin transfers, behind the Solana Network (SOL), measured in dollar terms.
Trouble in paradise
Despite Tron's impressive revenue figures and steady coin innovation, the network has lagged in certain dimensions. By June 2024, Tron's Total Value Locked (TVL), a measure of capital locked up in the Tron network, fell to a 6-month low of about $7.6 billion, according to Defi Lama.
The total value of locked Tron increased slightly in July, reaching around $8.7 billion, but fell to $7.6 billion in August and is still hovering around that level at the time of writing.
Interestingly, TVL's fall coincided with a rise in TRX's price, resulting in a 9.5% gain in June 2024.
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