Tron Network posts $577 million in Q3 revenue
The Tron Network reported $577 million in revenue for Q3, putting it ahead of major blockchains including Bitcoin and Ethereum in terms of quarterly revenue.
Tron generated revenue of $577.2 million in Q3, with 74% of that revenue coming from stock and 26% from amortization, according to data from Tronscan. .
Tron posted quarterly revenue of $577 million for Q3. Source: Tronscan
Tron's record quarterly figures were driven primarily by the network's growing stablecoin movement, as well as its recent push into the memecoin market.
According to data from Token Terminal, Tron's total payouts and revenue surpass those of competing networks such as Bitcoin and Ethereum, with quarterly revenue of $56.3 million and $256 million, respectively.
It should be noted that there are significant differences in the way blockchain networks generate revenue, often with complex payment, revenue and other more technical means. Comparisons based on net income or fees may not accurately reflect the total income of a blockchain.
Tron is currently the second largest blockchain for statscoins behind Ethereum, accounting for 35 percent of the $172 billion stablecoin market cap, according to DefiLlama data.
More than $62 billion of stablecoins are currently deployed on the Tron network. Source: Defillama
Tron's network is popular with users in emerging markets in South America and Africa, where high inflation and local currency risks often lead to high demand for stable assets like the US dollar-pegged stablecoin Tether (USDT).
Related: Tether stablecoin issuer and Tron launch financial crime unit
At the time of publication, Tether accounts for 98.3% of all stablecoin deposits and transactions on the Tron network.
Justin Sun's foray into the memecoin sector gave the network a modest boost in terms of revenue, launching self-styled memecoin developer SunPump to moderate success.
SunPump – the simulation product of Solana-based memecoin launchpad pump.fun – generated $1 million in revenue in 11 days after going live and It has grossed a total of $5.4 million since its August 9 debut.
SunPump, Tron's Memcoin distributor, has generated $5.4 million in revenue since launch. Dune analysis
While Tron brought in just over $5.4 million in 24 hours, it recorded its highest revenue day on August 21 following a $1 billion new USDT injection from Tether on August 20, according to Defillama data.
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