Tron Records Massive Surge in Revenue, Flips Core Rivals

Tron has got the cryptocurrency sector talking after it recorded a massive surge in revenue. As a result of its latest milestone, it has successfully secured the position of the most productive network among its counterparts. 

Tron Network Outperforms Ethereum and Solana 

Recently, the Tron Network generated a whopping $1.142 million in revenue in a single day. This immediately placed it higher than every other blockchain, including Ethereum. 

For context, Ethereum recorded only $174,677, which is only a little over 15% of Tron’s revenue. Similarly, Solana, which was the closest to Tron, secured  $175,708 in revenue. 

Together with its $1.142 million single-day revenue, Tron has generated a total of $49.2 million over the past 30 days. This is over three times higher than the $14.78 million that Ethereum saw and 10 times Solana’s $4.61 million. 

Stablecoin Supply Resides on Tron Network 

Per data from DefiLlama, Tron is clearly dominating other networks, and this is not a coincidence. 

As of this day, a significant percentage of stablecoin are supported by Tron, with their supply hosted on the network. Also, this network has emerged as the foundation of the USDT (Tether) ecosystem, among other capabilities. This outlook has contributed immensely to the large volumes of transactions seen on the network. 

Developers will obviously be drawn to the Tron blockchain due to the resulting high fees and steady income. 

The consistent stablecoin transfers are instrumental to ensuring that the network’s throughput remains high. Consequently, it is quite different from other chains as activity spikes only when there are speculative rallies.

Tron Inc. Invests $220 Million in TRX purchase 

Another contributor to the positive sentiment in the Tron ecosystem is institutional demand. In the first week of September, Nasdaq-listed Tron Inc. expanded its cryptocurrency treasury by adding $110 million worth of TRX tokens. Thereafter, the company’s total TRX holdings moved to more than $220 million. Moreover, the purchase solidified Tron Inc.’s position as the largest public holder of the asset. 

The company made this move after its largest shareholder, Bravemorning Limited, injected $110 million to acquire 312.5 million tokens. As it stands, it now holds about 86.6% stake in the firm. “With this additional $110 million investment from our largest shareholder, Tron Inc. has strengthened its position as the largest public holder of TRX tokens,” Tron Inc. CEO Rich Miller said.

Meanwhile, TRX price is currently at $0.3489 with a 0.66% dip over the last 24 hours.