The Tron network recorded $577 million in revenue in the third quarter, outpacing major blockchains including Bitcoin and Ethereum in terms of quarterly revenue.
According to Tron’s data, Tron earned $577.2 million worth of revenue in the third quarter. 74% of revenue came from staking and 26% from burning. This is Tronscan’s data, which was also cited by Tron founder Justin Sun in his post on X on October 2nd. .
Tron’s record-breaking quarterly numbers were largely driven by the network’s increased stablecoin activity and its recent entry into the memecoin market.
According to data from Token Terminal, Tron’s total fees and revenue surpassed larger competing networks such as Bitcoin and Ethereum, which recorded quarterly revenue of approximately $56.3 million and $256 million, respectively.
It is worth noting that there are significant differences in how blockchain networks generate revenue through complex combinations of fees, revenue, and other technical methods. Pure revenue or fee-based comparisons may not perfectly reflect the total revenue of a blockchain.
According to data from DefiLlama, Tron is currently trailing only Ethereum as the second-largest blockchain in the stablecoin sector, accounting for nearly 35% of the $172 billion stablecoin market capitalization.
The Tron network is popular with users in emerging markets in South America and Africa, where high inflation and domestic currency issues are driving demand for more stable assets, such as the stablecoin Tether (USDT), which is often pegged to the U.S. dollar.
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At the time of publication, Tether accounted for 98.3% of all stablecoin deposits and activity on the Tron network.
Justin Sun’s foray into the memecoin sector has resulted in a modest increase in the network’s revenue, with self-proclaimed memecoin distributor SunPump finding moderate success.
SunPump, a copycat of Solana-based memecoin launchpad Pump.fun, generated $1 million in revenue within 11 days of launch, bringing its total revenue to $5.4 million since launch on August 9.
According to DefiLlama data, Tron recorded its biggest revenue on August 21, earning just over $5.4 million in 24 hours after Tether injected $1 billion of new USDT on August 20.
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