The Tron network is ambitious: It has overtaken Bitcoin and Ethereum!
The Tron network has left major blockchains such as Bitcoin and Ethereum behind by generating $577 million in revenue in the third quarter.
According to Tronscan's data, Tron generated $577.2 million in revenue in the third quarter. 74 percent of its revenue came from staking services and 26 percent from burning activities. Sunpump, a memecoin generation platform operating on the Tron network, has virtually lifted the ecosystem and TRX to its feet. Tron founder Justin Sun's support for the platform has taken network activities to the next level.
Tron's record quarterly figures were primarily due to the network's growing stablecoin activity, as well as recent investments in the memecoin space. SunPump, the Tron network version of Solana-based memecoin generation platform pump.fun, generated $1 million in revenue within 11 days of its launch. According to data from Token Terminal, the networkâs total revenue has surpassed that of Bitcoin and Ethereum, which recorded quarterly revenues of $56.3 million and $256 million, respectively. Tron is currently the second-largest blockchain for stablecoins behind Ethereum, accounting for about 35 percent of the $172 billion stablecoin market cap.
According to DefiLlama data, Tron reached its biggest revenue day on August 21, when it generated over $5.4 million in revenue in 24 hours after minting $1 billion worth of new USDT from Tether on August 20. If the memecoin craze continues or TRX experiences another bull run, the networkâs revenue is likely to increase even more.
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