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Recent data from Token Terminal reveals that the Tron network has exceeded Ethereum’s revenue over the past 90 days, generating approximately $435 million in fees compared to Ethereum’s $364 million. Justin Sun, the founder of Tron, emphasized the network’s remarkable 30-day performance, where Tron’s revenue surpassed Ethereum’s by 50%.
What’s Fueling Tron’s Growth?
Justin Sun shared insights into the future prospects of Tron, suggesting that if the current growth trend continues, Tron’s protocol revenue could surpass $2 billion this year, positioning it as the most profitable blockchain globally. Additionally, Tether payments on Tron have surged to one-third of Visa’s total payment volume for Q2 2024, with the network reaching a transaction payment volume of $1.25 trillion. Access NEWSLINKER to get the latest technology news.
What Are Tron’s Future Plans?
Sun announced plans to introduce a fee-free stablecoin for both Tron and Ethereum networks by July 2024. This stablecoin will eventually be extended to other Ethereum Virtual Machine (EVM) blockchain networks, enabling users to conduct peer-to-peer stablecoin transactions without network fees. This initiative is expected to significantly enhance the use of stablecoins for small payments, institutional settlements, and cross-border remittances.
Key Takeaways
– Tron has outperformed Ethereum in revenue, highlighting its rapid growth.
– The network’s potential to exceed $2 billion in revenue by year-end.
– Introduction of a fee-free stablecoin to enhance transaction efficiency.
– Tether payments on Tron rivaling Visa’s total payment volume.
Despite its impressive revenue performance and stablecoin innovations, Tron faces challenges in other areas. Data from DeFi Llama indicates that Tron’s total value locked (TVL) dropped to a six-month low of about $7.6 billion in June 2024. Although there was a moderate increase to around $8.7 billion in July, TVL fell back to $7.6 billion in August. Interestingly, this decline coincided with a 9.5% rise in the TRX price for June 2024.