thecryptobasic.com
The Tron blockchain has recorded an unprecedented milestone in network daily revenue amid a dramatic surge in the price of its native token TRX.
Tron founder Justin Sun proudly highlighted the achievement in a post on X today. Specifically, on Tuesday, December 3, Tron saw a total revenue of $21.66 million, representing an all-time high for a single day.
Notably, the network posted a one-day revenue of around $10.92 million on the previous day. This marked a staggering 98% increase compared to the figure from Tuesday. The massive change follows a similar turnaround in the market price of the network’s token, TRX.
TRX Skyrockets by 99% But Dumps Later
TRX traded as low as $0.2204 yesterday, but by midnight, in one fell swoop, the price skyrocketed to an all-time high of $0.4407. This represented a 99.96% growth within one day, making it the best-performing asset among the most prominent cryptocurrencies.
Meanwhile, TRX quickly plummeted after the abrupt price pump. At press time, TRX is trading at $0.356, having lost 19.21% of its gains.
Nonetheless, the improved price of TRX, coupled with increased interest in the network for stablecoin and meme coin activities, has raised Tron network revenue to historic heights.
Tron Sees $1.91 Billion in Yearly Revenue
It’s worth mentioning that Tron’s revenue has been on an upward trend this year. This momentum picked up in August following the introduction of the token deployment platform, SunPump, which sought to rival Solana’s Pump.Fun.
In one day, SunPump launched 7,351 meme coins, generating over half a million dollars in revenue. This activity spilled over to the Tron network, which saw $13 million in revenue in a single day on August 21, setting a historic high at the time.
Currently, Tron’s 30-day revenue amounts to $242 million, up by 21% from the previous month. On a 90-day scale, the network has amassed $637.32 million in revenue, also up by 23% from the previous figure.
Meanwhile, on an annual scale, Tron boasts a staggering $1.91 billion in revenue, which is over 108% higher than the figure from last year.
Now, with the latest all-time high in daily revenue, Tron community members expect the liquidity surge to spill over into the meme coin arena as the bull market continues.