Tron Outperforms Ethereum in Revenue, But How?

Tron network has recently outpaced Ethereum in revenue generation, amassing significant income since July 23. Data from DefiLlama revealed that Tron amassed an impressive $1.42 million in revenue over the past day.

This figure is significantly higher than Ethereum's $844,276 for the same timeframe. This milestone achievement marks a notable shift in the revenue dynamics between these two major blockchain platforms.

Tron Surpasses Ethereum in Revenue

This achievement's backdrop is particularly striking given Ethereum's recent developments. The launch of Ethereum-based ETFs in the US has driven substantial investment, with inflows totaling $2.2 billion, as highlighted in a recent CoinShares report.

Despite this influx of capital, Ethereum's revenue over the last week was approximately $600,000 less than Tron's. Tron secured $8.67 million compared to Ethereum's $8.08 million within this period, highlighting Tron's growing traction.

Meanwhile, Solana has also been making headlines, ranking third in revenue generation. Solana amassed $940,009 in 24-hour revenue, higher than Ethereum's revenue over the same period. However, on a weekly scale, Solana's performance lagged, generating $6.38 million over the past seven days.

While Solana's daily figures are impressive, its cumulative weekly revenue places it behind Tron and Ethereum.

Looking at a longer-term perspective, Ethereum still generated the most revenue over the past 30 days, with a total of $52.48 million.

Tron follows with $40.2 million, and Pump.fun comes in third with $25.83 million, outperforming Solana. These figures primarily reflect the competitive nature of the blockchain revenue space.

Meanwhile, on July 6, the founder of Tron, Justin Sun, announced the development of a groundbreaking gasless stablecoin solution.

This innovative approach aims to enable free peer-to-peer transfers, with transaction fees paid in stablecoins. According to Sun, the Tron blockchain may integrate this solution by the fourth quarter of 2024.

Also, there are plans to extend this stablecoin technology to the Ethereum blockchain and other Ethereum Virtual Machine (EVM) compatible public chains. Essentially, this extension will potentially broaden the network's impact and utility.

Tron's Challenges Amid Positive Developments

Despite these positive developments, Tron's ecosystem has faced some challenges. On June 26, the total value locked (TVL) on the Tron blockchain dropped to a six-month low of $7.5 billion, indicating investors' significant withdrawal of funds.

Nevertheless, Tron's native token, TRX, recorded a 9.5% increase month-to-date by June 27, outperforming Solana. This positive movement came before a notable transaction from Justin Sun, who transferred $21.4 million worth of TRX to a deposit address on Binance.

However, concerns exist regarding the concentration of network deposits within Tron's ecosystem. At the time, 75% of network deposits were held in a single decentralized application, JustLend.

Over the past 30 days, the decentralized application's assets have declined by 15%, highlighting potential risks and vulnerabilities within the Tron network.

This concentration primarily raises the need for diversifying applications and encouraging broader participation across the ecosystem to ensure long-term stability and growth.

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