Tron Surpasses Ethereum in Revenue Generation
Since Bitcoin’s resurgence above $62,000, altcoins have been on the rise, with Tron leading the pack in revenue generation. DefiLlama data reveals that Tron has now outpaced Ethereum in terms of fees and revenue, making it the seventh largest blockchain in the rankings.
Tron’s Continued Revenue Dominance
For several days now, Tron has consistently surpassed Ethereum in daily revenue generation. In the last 24 hours alone, Tron has raked in $1.42 million, a significant lead over Ethereum’s $844,276. This trend has persisted over the past week, with Tron generating $8.67 million compared to Ethereum’s $8.08 million.
Factors Contributing to Tron’s Success
Despite Ethereum’s underperformance in terms of price, Tron’s upcoming gas-free stablecoin solution, announced by founder Justin Sun, has garnered significant attention. This innovation aims to facilitate free peer-to-peer transfers, potentially driving increased activity on the Tron network. However, it is important to note that Tron’s total value locked experienced a significant drop to $7.5 billion on June 26, hitting a six-month low.
In contrast, Ethereum’s price has seen a 5.4% decline over the past week, trading at around $3,300. With the recent launch of an Ethereum ETF spot, the stage is set for Ethereum to reclaim its dominance in revenue generation.
Also Read: US Government Moves $2 Billion, Bitcoin Plunges: Market Turmoil?
