- Daily financial figures show Tron generated $10.5 million in revenue from $197.8 million in trading volume.
- Tron develops technology for fee-free stablecoin transfers across EVM-compatible blockchains, enhancing cryptocurrency utility.
Recent data reveals that Tron’s network has surpassed Ethereum in terms of financial metrics, achieving $435 million in recorded fees, while Ethereum has seen $364 million.
This growth in Tron’s financial activity reflects broader trends in the cryptocurrency sector, particularly in the last quarter, marked by intense market fluctuations.
Analysts from Token Terminal, as cited by EthNews, predict that Tron’s network could generate up to $2 billion in revenue by 2024.
The increase in Tron’s utilization can be attributed to a heightened preference for it within the stablecoin community.
Over the previous three months, the network has consistently outperformed Ethereum in handling transactions. This shift highlights a growing confidence in Tron’s platform for facilitating stablecoin exchanges.
In the past 30 days, according to @tokenterminal, TRON’s protocol revenue has exceeded Ethereum’s protocol revenue by 50%. If this trend continues, TRON’s protocol revenue could even surpass $2 billion this year, making it the most profitable blockchain on Earth!
pic.twitter.com/kbzjU5zM5O
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 15, 2024
Justin Sun, emphasized the recent achievements, stating that Tron’s revenue has exceeded that of Ethereum by 50% in the past month alone.
He further suggested that, should this trend continue, Tron could set a new standard for profitability in blockchain technology by the end of this year. The statement is supported by substantial activity on the network, indicating robust institutional and individual engagement.
In terms of daily operations, Tron reported generating $10.5 million in revenue from $197.8 million in trading volume just in the last 24 hours.
These figures underscore the network’s role in crypto finance, especially in processing transactions for Tether (USDT), which now parallels one-third of Visa’s payment volume with a total of $1.25 trillion handled through the network.
Tron is also advancing its technology to support broader stablecoin utility across other blockchain ecosystems that are compatible with Ethereum Virtual Machine (EVM). This development is poised to facilitate seamless, fee-free transfers of stablecoins, potentially increasing their use and applicability.
Despite these positive indicators of network usage and financial gain, Tron’s Total Value Locked (TVL) has seen a decrease from $10.3 billion to $7.5 billion.
Furthermore, the trading volume and market capitalization of Tron’s token, TRX, have slightly declined, with current prices reflecting a marginal decrease.
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