Tron Network Surpasses Bitcoin and Ethereum with $577 Million Revenue in Q3
The Tron Network reported an impressive revenue of $577 million for the third quarter, outperforming major blockchains such as Bitcoin and Ethereum.
According to Tronscan data, Tron’s revenue breakdown shows that 74% came from staking and 26% from burning tokens. The surge in earnings can be attributed to increased activity with stablecoins and a recent venture into the memecoin space.
Token Terminal indicates that Tron’s revenue exceeded that of Bitcoin and Ethereum, which reported quarterly revenues of approximately $56.3 million and $256 million, respectively. However, it’s important to understand that different blockchain networks have various methods of generating income, making direct comparisons complex.
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Currently, Tron holds the position of the second-largest blockchain for stablecoins, capturing around 35% of the $172 billion market. The network is particularly popular in South America and Africa, where high inflation rates prompt users to seek stable assets like Tether’s USDT, which dominates 98.3% of transactions on the Tron network.
Additionally, Justin Sun’s foray into the memecoin market with the SunPump project has contributed positively to revenue, generating $1 million shortly after its launch and a total of $5.4 million since August 9.
Tron’s peak revenue day occurred on August 21, when it earned over $5.4 million in just 24 hours, following a significant $1 billion USDT injection from Tether on August 20.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
