Tron recorded an impressive $566 million in revenue for the third quarter, surpassing major players like Ethereum, Solana, and Bitcoin.
This marks a 43% growth from the previous quarter and a total revenue of $1.66 billion over the past year, reflecting a 113% year-on-year increase. Data from Token Terminal shows Tron outperformed its competitors, with third-quarter earnings more than double Ethereum’s $253 million, five times higher than Solana’s $105 million, and nine times greater than Bitcoin’s $57 million.
Founder Justin Sun expressed optimism about continued growth in Q4. Tron’s surge in revenue is largely attributed to its stablecoin activity and the growing memecoin sector.
According to DeFiLlama, Tron ranks as the second-largest blockchain for stablecoins, holding 34.8% of the market share and supplying $59.8 billion in stablecoins, mainly USDT, which makes up 98.3% of Tron’s stablecoin supply.
Tron’s low fees and fast transactions have driven its popularity, especially in emerging markets like Nigeria and Argentina, where users rely on stablecoins to shield themselves from volatile local currencies.
The network has also gained traction with the launch of SunPump, a memecoin launchpad that has fueled activity. Daily transactions on Tron now exceed 8 million, with rising transaction fees, increasing from around 20 cents to $1 in recent years, further boosting the network’s revenue.
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