Tron’s revenue hits record high, surpassing many mainstream blockchains

According to the latest data from Tronscan, the Tron network set an astonishing revenue record in the third quarter of 2024, reaching $577 million, surpassing multiple mainstream blockchains including Bitcoin and Ethereum. This number not only increased by 43% compared with the second quarter, but also achieved total revenue of approximately US$1.66 billion in the past year, a year-on-year growth of 113%.

Source: Tronscan Tron announced third-quarter revenue of $577 million

In addition, according to blockchain data analysis platform Token Terminal, Tron’s revenue in the third quarter was more than twice that of Ethereum ($253 million), five times that of Solana ($105 million), and even Bitcoin ($57 million). U.S. dollars) nine times as much. This strong growth momentum makes Tron stand out in the blockchain industry and attracts widespread attention.

Tron founder Justin Sun expressed optimism about this, saying: "We are confident that the growth in the fourth quarter will exceed that in the third quarter." He emphasized that Tron's development strategy and market positioning are being verified, and it will continue to maintain rapid growth in the future.

Stablecoin activity and memecoin craze drive growth

One of the main reasons for Tron’s revenue surge is the strong performance of its stablecoin activity. Tron has become the second largest stablecoin blockchain in the world, controlling 34.87% of the market and supplying $60 billion worth of stablecoins, according to DefiLlama. This year, Tron’s stablecoin supply has grown by 21.6%, mainly benefiting from strong demand for Tether’s $USDT, which accounts for 98.3% of stablecoins on the Tron network.

Source: DefiLlama Tron has become the world’s second largest stablecoin blockchain, controlling 34.87% of the market share

Market observers point out that Tron is popular in emerging markets such as Nigeria and Argentina, mainly due to its low transaction fees and fast transaction speeds. Users in these regions face high volatility in their national currencies and are increasingly turning to stablecoins to store value but also as a way to gain exposure to the U.S. dollar.

In addition, the meme coin craze on the Tron network has also made an important contribution to its revenue. SunPump, the meme coin issuance platform recently launched by Justin Sun, has raised Tron’s profile in the industry and significantly increased online activity. SunPump has generated $5.4 million in revenue since its launch on August 9. The platform achieved $1 million in revenue within 11 days of going live, showing the huge interest in meme coins.

Image source: Dune Analytics SunPump has generated $5.4 million in revenue since launch

According to Token Terminal’s observations, the Tron network’s average daily transaction volume exceeds 8 million, mainly due to active stablecoin transfers and memecoin transactions. As transaction volume has increased, average transaction fees on the Tron network have risen from about $0.20 to $1 over the past two years, which has also indirectly boosted its revenue.

Source: Token Terminal The average daily transaction volume of the Tron network has exceeded 8 million, mainly due to the active transfer of stable currency and meme currency trading.

The market strategy works and the future prospects are promising

Tron’s success is inseparable from its precise market positioning and strategic layout. As a public chain dedicated to improving the applicability of blockchain, Tron not only continues to innovate in technology, but also actively expands the global market, especially in emerging economies. Low transaction fees and high transaction speeds give it a competitive advantage in these markets, attracting a large number of users and developers.

Tron’s stablecoin strategy is also cited as one of the key factors in its success. Through in-depth cooperation with Tether, Tron provides reliable stablecoin services to global users and meets the market demand for U.S. dollar-linked assets. At the same time, the extensive use of stablecoins has also driven the transaction volume and activity of the Tron network.

Justin Sun said that in the future, Tron will continue to deepen its layout in the stable currency and decentralized finance (DeFi) industry, and explore more application scenarios. He stressed: "Our goal is to provide better blockchain services to global users and promote further development of the industry."

Challenges and opportunities coexist, continue to pay attention to market trends

Despite its impressive results, Tron still faces challenges from the market and competitors. The competition in the blockchain industry is becoming increasingly fierce, and new technologies and new models are emerging one after another. How to maintain technological leadership and market share will be an important issue that Tron needs to solve in the future.

Additionally, uncertainty in the regulatory environment may also have an impact on Tron’s development. Regulatory policies for cryptocurrency and blockchain technology in various countries around the world are gradually improving, and Tron needs to pay close attention to policy developments to ensure compliant development.

Overall, Tron’s excellent performance in the third quarter has laid a solid foundation for its future development. As stablecoin activity continues to grow and the meme coin craze continues, Tron is poised to have another stellar fourth quarter. Investors and market participants will pay close attention to its dynamics and look forward to more surprises and breakthroughs.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.