Tron network exceeds Ethereum revenue over the past 90 days

Vince Quill6 hours agoTron network exceeds Ethereum revenue over the past 90 daysAccording to data from DefiLlama, the Tron network has accrued $1.31 million in network revenue during the past 24 hours alone.884 Total views16 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onThe Tron network has exceeded the Ethereum network’s revenues over the past 90 days, accruing approximately $435 million in fees compared to Ethereum’s fee revenues of roughly $364 million, according to data from Token Terminal.

Tron founder Justin Sun highlighted the 30-day revenue performance of the blockchain network, which has “exceeded Ethereum’s protocol revenue by 50%,” according to the Tron founder. Sun then offered forward-looking guidance 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!”

USDT (USDT) settlements on the Tron network surged to roughly one-third of payment giant Visa’s total settlement volume for the second business quarter of 2024, accounting for a whopping $1.25 trillion in transaction settlements on the Tron network.Blockchain network fees over a 90-day period. Source: Token TerminalTron to become the go-to ecosystem for stablecoin settlement?

Sun revealed that the Tron team was working to introduce a gasless stablecoin for the Tron and Ethereum networks in July 2024, with plans to deploy the stablecoin to other Ethereum Virtual Machine blockchain ecosystems in the future.USDT settlement on the Tron network. Source: Token Terminal

This would allow users on these networks to send stablecoins peer-to-peer without paying network fees, drastically increasing the viability of these products for small payments, corporate settlements and cross-border remittances.

Related: Tron surpasses Ethereum: $1.42M revenue in 24 hours

In 2024, Tron also became the second-largest blockchain network for stablecoin transfers when measured by dollar value, second only to the Solana network.Trouble in paradise

Despite Tron’s impressive revenue figures and stablecoin innovation, the network lags in certain metrics. In June 2024, its total value locked (TVL), a measure of capital locked within the network, fell to six-month lows of approximately $7.6 billion, according to DefiLlama.Tron’s total value locked measured in US dollars. Source: DeFiLlama

Tron’s total value locked rose moderately in July, reaching levels around $8.7 billion, but fell back down to around $7.6 billion in August and is still hovering around that level at the time of this writing.

Interestingly enough, the decline in TVL was accompanied by a significant rise in the price of TRX (TRX), which recorded a 9.5% gain for the month of June 2024.

Magazine: DeFi and Ethereum are the ‘new narrative’: Michaël van de Poppe, X Hall of Flame# Blockchain# Altcoin# Business# Ethereum# Fees# P2P Networks# Tron# Stablecoin# Justin Sun# DeFiAdd reaction