Tron [TRX] Surpasses Ethereum [ETH] with Record $435M in Network Activity, Aiming for $2B Revenue in 2024

  • Tron’s network activity has remarkably surpassed Ethereum, with figures hitting $435 million.
  • The network’s revenue is projected to surge to an impressive $2 billion by 2024.
  • Justin Sun highlighted that Tron’s protocol revenue has exceeded Ethereum’s by 50% recently.

Tron’s astonishing growth in network activity and revenue positions it as a leading blockchain, rivaling Ethereum, with substantial future potential.

Tron Surpasses Ethereum in Network Revenue

The Tron network has demonstrated stellar performance, achieving significant milestones in network revenue. According to data from Token Terminal, Tron has amassed $435 million in fees, surpassing Ethereum’s $364 million. This growth underscores the preference for the Tron network, driven by increased adoption of stablecoins.

Implications for Stablecoins on the Tron Network

Tron’s rise in network activity correlates closely with the surge in Tether [USDT] transactions. Reports suggest that Tether’s payment volume through the Tron network reached an impressive $1.25 trillion. This growth is not just significant for Tron but also highlights the network’s ability to handle large-scale stablecoin transactions efficiently.

Analyzing the Impact on TRX

Despite the substantial increase in revenue, Tron’s Total Value Locked (TVL) has seen a decline from $10.3 billion to $7.5 billion. This drop indicates fluctuations in the value locked within the network, despite the growing revenues and user activities. Additionally, recent data show a decrease in trading volume by 3.98% and a slight drop in market cap, which currently stands at $11.4 billion.

Conclusion

In conclusion, Tron has made significant strides in surpassing Ethereum’s network revenue, indicating a robust and growing blockchain ecosystem. The rise in stablecoin transactions and institutional adoption reflects its potential for future growth. However, the declining Total Value Locked and market cap suggest areas for improvement. Overall, Tron’s trajectory points towards a promising future, emphasizing the need for ongoing innovation and adaptation in the rapidly evolving crypto market.

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Source: https://en.coinotag.com/tron-trx-surpasses-ethereum-eth-with-record-435m-in-network-activity-aiming-for-2b-revenue-in-2024/