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Tron Network achieved record revenue in Q3 2024, earning a total of $577 million. This revenue was achieved through increased stablecoin activities and strategic moves towards the memecoin market. Tron’s performance drew attention by leaving leading blockchains such as Bitcoin and Ethereum behind.
According to the data, Tron’s third-quarter revenue came from staking activities at 74%, while 26% came from coin burning transactions. Tron’s total revenue exceeded Bitcoin’s $56.3 million and Ethereum’s $256 million, demonstrating great success.
Tron also has a large share in the stablecoin market and stands out as the second largest blockchain after Ethereum. Tron controls 35% of the $172 billion stablecoin market and has gained popularity especially in emerging markets such as South America and Africa with transactions dominated by Tether (USDT).
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Tron founder Justin Sun’s entry into the memecoin industry also contributed to the network’s revenue. The memecoin platform SunPump generated $1 million in revenue in 11 days, bringing its total revenue to $5.4 million. Tron recorded its biggest daily revenue on August 21, with a $1 billion USDT injection from Tether on August 20, bringing its revenue to $5.4 million in a single day.
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