The Tron network generated $577 million in revenue in Q3, surpassing major blockchains like Bitcoin and Ethereum.
According to data from Tronscan, Tron generated $577.2 million in revenue in Q3. 74% of its revenue was generated from staking services and 26% from burning activities.
Sunpump, a memecoin creation platform that operates on the Tron network, has literally revived the ecosystem and TRX. Tron founder Justin Sun's support for the platform has taken the network's activities to a new level.
Unexpected Exit From Tron Network
Tronâs record quarterly numbers were largely driven by the networkâs growing stablecoin activity as well as recent investments in the memecoin space. SunPump, the Tron networkâs version of Solana-based memecoin creation platform Pump.fun, generated $1 million in revenue within 11 days of its launch.
According to data from Token Terminal, the network's total revenue has surpassed that of Bitcoin and Ethereum, which recorded quarterly revenue of $56.3 million and $256 million, respectively. Tron is now the second-largest blockchain for stablecoins, after Ethereum, accounting for about 35% of the $172 billion stablecoin market capitalization.
According to DefiLlama data, Tron saw its biggest revenue day on August 21, generating over $5.4 million in revenue within 24 hours after minting $1 billion in new USDT from Tether on August 20. If the Memecoin craze continues or TRX experiences another price surge, it is possible that network revenue will increase further.
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