Tron Network Surpasses Bitcoin and Ethereum in Quarterly Revenue

• The Tron Network generated a record $577 million in revenue in Q3, surpassing Bitcoin and Ethereum.
• 74% of Tron's revenue came from staking, while 26% came from burning.
• Tron's stablecoin activity and entry into the memecoin market drove its record quarterly figures.
• Tron is the second-largest blockchain for stablecoins, accounting for 35% of the stablecoin market cap.
• Tether's CEO highlights the importance of USDT in inflation-stricken countries and its backing by Treasury bills.
• More than half of USDT is issued on the Tron blockchain due to lower transaction costs compared to Ethereum.

Summary :
The Tron Network has reported a record $577 million in revenue for the third quarter of this year, surpassing popular blockchains like Bitcoin and Ethereum in terms of quarterly income. The majority of Tron's revenue, 74%, came from staking, while 26% came from burning. Tron's success can be attributed to its growing stablecoin activity and recent entry into the memecoin market. Tron is currently the second-largest blockchain for stablecoins, accounting for nearly 35% of the $172 billion stablecoin market cap. The network is particularly popular in emerging markets with high inflation and currency concerns. Tether (USDT) accounts for 98.3% of all stablecoin deposits and activity on the Tron network. Tron's memecoin deployer, SunPump, has generated $5.4 million in revenue since its launch. Tron achieved its highest daily revenue on August 21, bringing in over $5.4 million in just 24 hours. Tron's success can be attributed to its lower transaction costs compared to Ethereum, making it more accessible for users in economically challenged regions. Additionally, Tether's large holdings of U.S. Treasury bills provide stability and backing for the stablecoin. Overall, Tron's record-breaking revenue highlights its growing presence and success in the blockchain industry.

Sources :

- CoinTelegraph
- Coindesk