Tron Q3 2024 revenue reached $566 million, surpassing Bitcoin and Ethereum networks

2024-10-03 15:19:47

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ChainCatcher news, according to Cryptodnes, Tron achieved a revenue of $566 million in the third quarter of 2024, surpassing major competitors like Ethereum, Solana, and Bitcoin. This represents a 43% increase compared to the previous quarter, with annual revenue potentially reaching $1.66 billion, a year-on-year increase of 113%.

Tron's growth is primarily attributed to its stablecoin activities and the growing meme coin market. Tron holds a 34.8% share of the stablecoin market, supplying $59.8 billion in stablecoins, mainly USDT. Tron's low fees and fast transactions are particularly popular in emerging markets, especially in Nigeria and Argentina.

Additionally, the launch of SunPump has boosted its network activity, with daily transaction volumes exceeding 8 million.

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