Tron Network Outperforms Ethereum Revenue Over The Last 90 Days

According to recent data from Token Terminal, the Tron network has surpassed Ethereum in terms of revenue generation.

Over the past 90 days, the blockchain network has accumulated approximately $435 million in fees, surpassing Ethereum’s $364 million.

Tron revenue surpasses Ethereum by 50%

Tron founder Justin Sun took to X on August 15 to highlight this achievement, stating that in the past 30 days, Tron’s protocol revenue surpassed Ethereum’s by 50%.

In the last 30 days, according to @tokenterminalTRON protocol revenue has surpassed Ethereum protocol revenue by 50%. If this trend continues, TRON’s protocol revenue could even exceed $2 billion this year, making it the most profitable blockchain on Earth! pic.twitter.com/kbzjU5zM5O

— HE Justin Sun 孙宇晨 (@justinsuntron) August 15, 2024

He also projected that if the current trend continues, Tron’s protocol revenue could exceed $2 billion by the end of 2024, making it “the most profitable blockchain on Earth.”

In response to a query on its original post, Sun clarified that 100% of its revenue is distributed to TRX holders.

In addition to this revenue growth, the network recorded $1.25 trillion in USDT settlement volumes in the second quarter of 2024. According to Token Terminal, this represents nearly a third of Visa’s annual settlement figures.

USDT enabled @trondao = 1/3 of @Visaannual settlement volume of.

In the second quarter of 2020, USDT to TRON had a settlement volume of $25.2 billion.

In 2Q24, that same figure was $1.25 trillion.

pic.twitter.com/adicMrxvjg

— Token Terminal (@tokenterminal) August 12, 2024

A major contributor to Tron’s revenue growth is its dominance in the stablecoin market, particularly with Tether (USDT). Half of all USDT in circulation currently operate on the network.

Considering that USDT represents about 70% of the entire stablecoin market, this concentration is a major revenue driver for it.

Upcoming innovations

Meanwhile, Tron will introduce a new feature later this year that could further boost its market position. The network is developing a solution that will allow users to pay transaction fees with stablecoins such as USDT, eliminating the need to hold TRX for transfers.

Sun believes this will simplify blockchain transactions, especially for large companies, and could drive wider adoption of blockchain technology.

This feature is expected to launch first on the Tron network, with plans to expand to Ethereum and other Ethereum Virtual Machine (EVM) compatible chains.

Despite Tron’s revenue numbers, the network faces challenges in other key metrics. According to data from DefiLlama, the total value locked (TVL) of the blockchain platform fell to a six-month low of approximately $7.6 billion in June 2024.

While there was a moderate recovery in July, with TVL rising to $8.7 billion, it has since returned to around $7.4 billion.

Interestingly, this drop in TVL coincided with a significant increase in the price of TRX, which saw a 9.5% gain in June 2024.

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