JUST-IN: Tron Exceeds Ethereum With $1.42M in Revenues in 24 Hours 

Tron, a key blockchain player, has recently overtaken Ethereum in revenue generation. Data from DeFi analytics DefiLlama shows that Tron generated $1.42 million in a single day, surpassing Ethereum’s $844,276. This achievement, observed since July 23, simply points to Tron’s increasing influence in the blockchain market.

[DEFILLAMA] Tron Surpasses Ethereum in Revenue Over the Last 24 Hours and Since July 23, Despite Recent US ETF Launches$TRX $ETH pic.twitter.com/S6COdwKqWi

— BecauseBitcoin.com (@BecauseBitcoin) July 30, 2024

Since July 23, Tron has consistently outperformed Ethereum in revenue generation. Despite Ethereum’s Ether ETF launch driving $2.2 billion in inflows, Tron accrued approximately $600,000 more in fees than Ethereum over the last seven days. In fact, over the week, Tron secured the number-one spot in revenue generation, recording a seven-day revenue of $8.67 million compared to Ethereum’s $8.08 million. 

Since July 23, Tron has generated more revenue than #Ethereum, with $1.42 million in 24 hours compared to Ethereum's $844,276.

Over the last seven days, Tron accrued $8.67 million in revenue, surpassing Ethereum's $8.08 million.

The #Tron network's recent developments include… pic.twitter.com/kcnOpmn5NC

— TOBTC (@_TOBTC) July 30, 2024

This indicates on a broader scale that Tron has been successful in capturing a larger share of the revenue compared to Ethereum recently; the Ether ETFs’ success is not inclusive. Solana, which came third, experienced a higher revenue of $940,009 than Ethereum’s daily revenue but witnessed a dip of $6.38 million a few days later.

DefiLlama data showing Tron’s top 7-day revenue share. Source: DefiLlama

On July 6, Justin Sun, the founder of Tron, revealed that the team had been building a gasless stablecoin solution for free peer-to-peer (P2P) transfers. Sun explained that the fees would be “entirely covered by the stablecoins themselves,” hoping to integrate this solution on the Tron blockchain in the fourth quarter of 2024. This innovative approach could be a key factor in Tron’s recent success in revenue generation.

Comparing the Duo 

When comparing Tron and Ethereum, it’s important to note their key differences. Tron uses a Delegated Proof of Stake (DPoS) consensus mechanism, while Ethereum uses Proof of Work (PoW). Tron has a larger block size, which usually makes for faster transactions than Ethereum. Additionally, Tron has a lower average transaction fee compared to Ethereum, making it a more cost-effective option for users.

However, the current concern is that total value locked (TVL) in the Tron blockchain dropped to a six-month low of $7.5 billion on June 26, suggesting investors were withdrawing funds, indicating rising FUD. Despite this, TRX saw a 9.5% increase in value over the month, outperforming SOL. 

Tron Network’s TVL in USD. Source: DefiLlama

Sun also transferred 173.8 million TRX, worth $21.4 million, to a Binance deposit address. At the time, 75% of all deposits on Tron were concentrated in a single decentralized application, JustLend, which saw a 15% decrease in assets held over 30 days.

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