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Since July 23, Tronhas outperformed Ethereum in revenue generation, surpassing the recipient of the recent exchange-traded fund (ETF) launches in the United States.
<a href="https://defillama.com/fees" target="_blank" rel="noopener noreferrer nofollow">According</a> to DefiLlama data, Tron (<a href="https://cointelegraph.com/tron-price-index" rel="noopener noreferrer nofollow">TRX</a>) accrued $1.42 million in revenue over the last 24 hours, compared to Ethereum’s $844,276 over the same period.
Despite the Ether (ETH) ETF launch <a href="https://cointelegraph.com/news/ethereum-etf-launch-drives-2-2b-inflows" rel="noopener noreferrer nofollow">driving $2.2 billion in inflows</a>, depicted in the latest CoinShares report, ETH accrued roughly $600,000 less in fees than Tron over the last seven days.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-07/e814b333-6165-48ce-b6e4-02e6af6284cb.png" alt="Tron surpasses Ethereum: $1.42M revenue in 24 hours " title="">
 <figcaption style="text-align: center;">DefiLlama data depicts Tron's top revenue share over the last seven days. Source: DefiLlama
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Related: <a href="https://cointelegraph.com/news/tron-is-building-a-gas-free-stablecoin-solution" rel="noopener noreferrer nofollow">Tron develops gas-free stablecoin for Ethereum and Tron chains</a>
<h2 id="revenue-comparisons">Revenue comparisons</h2>
Since July 23, Tron has secured the number-one spot in revenue generation, with a recorded seven-day revenue of $8.67 million compared to ETH’s $8.08 million.
In third place, Solana (<a href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>) exceeded ETH’s 24-hour generated revenue over the same period with a total of $940,009 but underperformed over the last seven days accruing $6.38 million.
Over the last 30 days, ETH has remained in the top position with $52.48 million in revenue generated, followed by Tron’s $40.2 million and Pump.fun’s hearty $25.83 million — outperforming SOL.
Related: <a href="https://cointelegraph.com/news/justin-sun-offers-buy-german-government-bitcoin" rel="noopener noreferrer nofollow">Justin Sun offers to buy German gov’t’s $2.3B Bitcoin stack to minimize market impact</a>
<h2 id="driving-factors">Driving factors</h2>
On July 6, Justin Sun, the founder of Tron, revealed that the team had been <a href="https://cointelegraph.com/news/tron-is-building-a-gas-free-stablecoin-solution" rel="noopener noreferrer nofollow">building a gasless stablecoin solution for free peer-to-peer (P2P) transfers.</a>
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.
The Tron founder also explained that plans to integrate the stablecoin on the ETH blockchain and other Ethereum Virtual Machine (EVM) compatible public chains are set to follow.
Related: <a href="https://cointelegraph.com/news/tron-network-deposits-drop-to-6-month-low-as-trx-price-rallies-trouble-in-paradise" rel="noopener noreferrer nofollow">Tron network deposits drop to 6-month low as TRX price rallies — Trouble in paradise?</a>
<h2 id="fall-in-deposits">Fall in deposits</h2>
According to DefiLlama, the Tron blockchain’s total value locked (TVL) <a href="https://cointelegraph.com/news/tron-network-deposits-drop-to-6-month-low-as-trx-price-rallies-trouble-in-paradise" rel="noopener noreferrer nofollow">plummeted to a six-month low of $7.5 billion on June 26</a>, indicating investors were pulling funds from the ecosystem.
On June 27, TRX saw a 9.5% month-to-date rise of 9.5%, outperforming SOL, followed by founder Sun moving 173.8 million TRX worth $21.4 million to a Binance deposit address.
Alarmingly, 75% of the total network deposits on Tron at the time were concentrated in a single decentralized application, JustLend, which saw a 15% fall in assets held over 30 days.
Magazine: <a href="https://cointelegraph.com/magazine/thorchain-founder-jp-thor-vampire-attack-defi/" rel="noopener noreferrer nofollow">THORChain founder and his plan to ‘vampire attack’ all of DeFi</a>

Tron surpasses Ethereum: $1.42M revenue in 24 hours

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