Tron Surpasses Bitcoin and Ethereum with Record $577 Million in Q3 Revenue

Tron generated an impressive $557 million revenue in the third quarter, its highest-ever single-quarter revenue. This figure puts Tron ahead of significant blockchains like Bitcoin and Ethereum in terms of quarterly earnings.

This success is mainly due to more people using stablecoins on its platform. Moreover, Tron is trying to leverage the rising popularity of memecoins.

Tron Achieves $577.2 Million in Q3 Revenue, Driven by Staking and Stablecoin Dominance

According to Tronscan data, Tron generated $577.2 million in revenue in the third quarter of the year, with 74% coming from staking. The remaining 26% was generated from burning tokens. Justin Sun, the founder of Tron, shared this data in a post on X on October 2.

Also, data from Token Terminal shows that Tron generated more fees and revenue than larger competitors like Bitcoin and Ethereum. Bitcoin reported about $56.3 million in quarterly revenue, while Ethereum brought in around $256 million.

However, it's essential to understand that blockchain networks make money in different ways. Each network has unique ways of generating funds, making direct comparisons tricky. They use a mix of fees, revenue, and other technical methods. So, comparing revenue or fees between blockchains might not give a complete picture of their total income.

Tron is currently the second-largest blockchain for stablecoins, following Ethereum. According to DeFiLlama data, it holds about 35% of the total stablecoin market, valued at $172 billion.

The Tron network is popular in emerging markets, particularly South America and Africa. People in these regions often face high inflation and currency devaluation issues.

As a result, there is a strong demand for stable assets. One such asset is Tether (USDT), a stablecoin pegged to the U.S. Dollar. This demand reflects a desire for financial stability in uncertain economic conditions.

Currently, Tether USDT represents 98.3% of all stablecoin deposits and activities on the Tron network. This means that nearly all stablecoin transactions happening on Tron involve Tether.

On August 20, Tether injected 41 billion worth of new USDT into the market; the next day, Tron experienced its biggest revenue day. In just 24 hours, the network brought in slightly over $5.4 million.

Justin Sun's SunPump Memecoin Boosts Tron's Revenue and User Engagement

Justin Sun, the founder of Tron, has also ventured into the memecoin market. His involvement in this sector has provided a slight increase in revenue for the Tron Network. He launched a memecoin called SunPump, which has seen moderate success so far.

The entry into the memecoin space is significant because it attracts different types of users and can generate more activity on the network.

While Tether remains dominant, Justin Sun's new initiatives are helping to diversify Tron's offerings and boost its overall revenue.

SunPump is a new memecoin Launchpad that mimics the Solana-based platform called pump.fun. It quickly gained popularity, generating an impressive $1 million in revenue within 11 days of its launch. Since its debut on August 9, SunPump has accumulated $5.4 million in revenue.

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