According to CryptoPotato, recent data from Token Terminal reveals that the Tron network has overtaken Ethereum in terms of revenue generation. Over the past 90 days, Tron has accrued approximately $435 million in fees, surpassing Ethereum’s $364 million. Tron’s founder, Justin Sun, highlighted this achievement on August 15, stating that in the last 30 days, Tron’s protocol revenue exceeded Ethereum’s by 50%. Sun projected that if the current trend continues, Tron’s protocol revenue could surpass $2 billion by the end of 2024, making it the most profitable blockchain on Earth. He also clarified that 100% of its revenue is distributed to TRX holders. Additionally, the network recorded $1.25 trillion in USDT settlement volumes in the second quarter of 2024, representing nearly a third of Visa’s annual settlement figures. A major contributor to Tron’s revenue growth is its dominance in the stablecoin market, particularly with Tether (USDT). Currently, half of all USDT in circulation operates on the network. Given that USDT represents about 70% of the entire stablecoin market, this concentration is a major revenue driver for Tron. Meanwhile, Tron will be introducing a new feature by the end of the year that could further boost its market position. The network is developing a solution that will allow users to pay transaction fees with stablecoins, such as USDT, eliminating the need to hold TRX for transfers. Sun believes this will simplify blockchain transactions, particularly for large companies, and could drive broader adoption of blockchain technology. This feature is expected to launch first on the Tron network, with plans to expand to Ethereum and other Ethereum Virtual Machine (EVM)-compatible chains. Despite Tron’s revenue figures, the network faces challenges in other key metrics. According to data from DefiLlama, the blockchain platform’s total value locked (TVL) fell to a six-month low of approximately $7.6 billion in June 2024. Although there was a moderate recovery in July, with TVL rising to $8.7 billion, it has since returned to around $7.4 billion. Interestingly, this decline in TVL coincided with a significant rise in the price of TRX, which saw a 9.5% gain in June 2024.