TRON has reported its highest-ever quarterly revenue, reaching $577 million in Q3 2024—a 43% increase from Q2. Justin Sun, TRON’s founder, expressed optimism that Q4 will see even greater growth.
This surge places TRON well ahead of its competitors, with revenue more than twice that of Ethereum ($253 million), five times higher than Solana ($105 million), and nine times greater than Bitcoin ($57 million).
The revenue data for TRON Q3 has been released. The total revenue for Q3 is $577 million, the highest since the inception of the protocol, representing a 43% increase compared to Q2. We are confident that Q4 will see even more growth compared to Q3! https://t.co/EZR1lAvhnA pic.twitter.com/IYEaDWrhBo
— H.E. Justin Sun🌞(hiring) (@justinsuntron) October 2, 2024
A key driver of this growth is TRON’s dominance in the stablecoin market, where it controls 34.8% of the market share with a supply of $59.8 billion. The network’s stablecoin supply has grown 21.6% this year, thanks primarily to Tether’s USDT, which makes up 98.3% of the ecosystem.
TRON SURPASSES BITCOIN AND ETHEREUM WITH $570M REVENUE IN Q3
– The Tron Network posted $570 million in revenue, surpassing industry giants Bitcoin and Ethereum, according to Tronscan data, which was also cited by @justinsuntron.
Key Highlights:
– Tron’s revenue reflects a 43%… https://t.co/gyO6MxhuPe pic.twitter.com/iGelcx4ioA
— BSCN (@BSCNews) October 3, 2024
TRON Network Handles Over 8 Million Transactions Daily
TRON’s growth has been fueled by several factors. The blockchain processes over 8 million daily transactions, with stablecoin transfers and memecoin activity driving the bulk of this volume. Its low fees and fast transaction speeds have made it particularly popular in countries like Nigeria and Argentina, where economic instability has users seeking more stable assets.
The launch of SunPump, a memecoin launchpad, has also contributed significantly to TRON’s growth. Since its launch, SunPump has generated $5.4 million in revenue, adding further visibility to the TRON ecosystem.
As TRON continues to grow in both user base and revenue, its dominance in the crypto space is becoming increasingly evident, with strong momentum heading into Q4.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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