The total revenue generated by Tron is $566 million In the third quarter, it outperformed giants like Ethereum, Solana, and Bitcoin.
This figure reflects a 43% increase compared to the network’s second quarter revenue. Over the past year, Tron generated approximately $1.66 billion in total revenue, posting 113% year-over-year growth.
Tron’s third-quarter revenue was more than double Ethereum’s $253 million, five times Solana’s $105 million, and nine times Bitcoin’s $57 million, according to Token Terminal.
Following this result, Tron founder Justin Sun expressed optimism for the final quarter of this year, saying:
“We are confident that the fourth quarter will see further growth compared to the third quarter.”
Robust stablecoin activity
Tron’s revenue surge was primarily driven by its robust stablecoin activity and the growth of the memecoin sector on the network.
According to DeFillama data, Tron is the second largest stablecoin blockchain, controlling 34.8% of the market and supplying $59.8 billion in stablecoins.
The network’s stablecoin supply has increased by 21.6% this year, driven primarily by demand for Tether’s USDT, which accounts for 98.3% of Tron’s stablecoins. USDT is the largest stablecoin in the cryptocurrency market, with a market capitalization of approximately $120 billion.
Market players noted that TRON’s low fees and quick transactions are driving its popularity in emerging markets such as Nigeria and Argentina. In these regions, more and more users are turning to stablecoins to protect volatile local currencies and as a form of exposure to the US dollar.
Additionally, the recent launch of SunPump, a memecoin launchpad, has increased Tron’s visibility within the industry and significantly contributed to increased network activity.
token terminal noticed The stablecoin transfer and memecoin craze has resulted in more than 8 million daily transactions on the TRON network.
As a result, the network’s average transaction fees have risen from about 20 cents to $1 over the past two years, inadvertently increasing revenue.
mentioned in this article
