TRON Dethrones Bitcoin And Ether In Terms Of Quarterly Revenue

The Tron (TRX) network has just made a big impact in the crypto ecosystem. In the third quarter of 2024, the blockchain founded by Justin Sun generated record revenues, even surpassing giants Bitcoin and Ether.

A rapid growth driven by the DeFi ecosystem

In the third quarter of 2024, the Tron (TRX) network achieved a historic performance by generating record revenues of 577.25 million dollars, thus surpassing industry heavyweights like Bitcoin, Ethereum and Solana.

This 43% increase from the previous quarter is mainly explained by the rise of decentralized finance (DeFi) on its network. Staking now accounts for 74% of revenues, while burning mechanisms account for 26%.

The growing adoption of stablecoins on Tron has played a key role in this performance. The blockchain now controls more than a third of the stablecoin market, or about 60 billion dollars. This dominance reinforces Tron’s appeal to DeFi developers and users, thus creating a virtuous cycle of growth.

The success of the recently launched memecoins platform Sun Pump Meme also illustrates the dynamism of the Tron ecosystem. With 8.4 million dollars generated since its launch, it contributes to diversifying the network’s revenue sources.

Tron outperforms the competition on all fronts

TRON’s performance contrasts sharply with that of its rivals. In the third quarter, the network generated $567 million in fees, more than double Ethereum’s ($253 million), five times more than Solana ($105 million) and nine times more than Bitcoin ($57 million).

In terms of on-chain activity, Tron widely outstrips its competitors. The number of daily active addresses, transactions, and trading volumes on DEXs testify to a bustling ecosystem.

This rise of TRON reshuffles the established hierarchy in the crypto ecosystem. Recently, the blockchain even surpassed Cardano in terms of market capitalization, thus imposing itself in the top 10 cryptos. The TRX price, TRON’s native token, also experienced a significant rise, reaching $0.16 despite a bearish market context.

In short, Tron’s exceptional performance in the third quarter of 2024 marks a turning point in the crypto industry. By surpassing Bitcoin and Ethereum in terms of revenue and on-chain activity, the network asserts itself as a key player in decentralized finance.