September Blockchain Revenues Drop 16% as Tron Leads!

In September, blockchain network revenues fell by 16% as cryptocurrency market volatility decreased. According to VanEck, Ethereum, Solana, and Tron all experienced revenue drops, while Tron maintained its leadership position. 

September Network Revenue Declines Explained 

VanEck reports show that Ethereum’s revenue fell 6%, Solana 11%, and Tron 37% in September. The drop on Ethereum was mainly due to a governance proposal that reduced gas fees by more than 50%. Revenue declines on other networks were tied to lower volatility in the cryptocurrency market. 

Market volatility played a significant role. Ether’s volatility decreased by 40%, Solana by 16%, and Bitcoin by 26%. The report stated, “With lower volatility in digital assets, investors face fewer high-fee opportunities and limited arbitrage possibilities.” 

Tron Network Maintains Revenue Dominance 

According to Token Terminal, Tron earned $3.6 billion last year, ranking it as the top network in the crypto ecosystem. By comparison, Ethereum, despite reaching an all-time high market capitalization of $539 billion in August, generated only $1 billion in revenue. 

Tron’s revenue strength is largely attributed to its role in stablecoin payments. About 51% of Tether (USDT) circulation is issued through the Tron network. This position boosts Tron’s economic activity and revenue potential. 

Stablecoins and Blockchain Ecosystem Growth 

RWA.XYZ data shows that the stablecoin market exceeded $292 billion in October 2025, growing steadily since 2023. Governments are increasingly integrating fiat currencies into blockchain rails to enhance accessibility and usability. 

Blockchain-based stablecoins allow near-instant cross-border payments with minimal fees. They also support 24/7 trading without requiring a bank account, making digital assets a critical use case for the global economy. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.