Ethereum

United

Solana

Bitcoin

Since July 23, Tron has outperformed Ethereum in revenue generation, surpassing the network that saw the launch of spot Ether exchange-traded funds (ETFs) in the United States on July 23.
<a href="https://defillama.com/fees" target="_blank" rel="noopener nofollow">According</a> to DefiLlama data, Tron&nbsp;accrued $1.42 million in revenue over the last 24 hours, compared to Ethereum’s $844,276 over the same period.
Despite the launch of spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs&nbsp;<a href="https://cointelegraph.com/news/ethereum-etf-launch-drives-2-2b-inflows">driving $2.2 billion in inflows</a>, as depicted in the latest CoinShares report, Ethereum accrued roughly $600,000 less in fees than Tron over the last seven days at the time of publication on July 30.
<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
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/tron-is-building-a-gas-free-stablecoin-solution">Tron develops gas-free stablecoin for Ethereum and Tron chains</a>
<h2 data-ct-non-breakable="true" 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 is Solana, which exceeded ETH’s 24-hour generated revenue over the same period, with a total of $940,009, but underperformed over the last seven days,&nbsp;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, which outperformed Solana.
Related: <a href="https://cointelegraph.com/news/justin-sun-offers-buy-german-government-bitcoin">Justin Sun offers to buy German gov’t’s $2.3B Bitcoin stack to minimize market impact</a>
<h2 data-ct-non-breakable="true" 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">building a gasless stablecoin solution</a> for free peer-to-peer 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.
The Tron founder also explained that plans to integrate the stablecoin on Ethereum and other Ethereum Virtual Machine-compatible public chains will follow.
Related: <a href="https://cointelegraph.com/news/tron-network-deposits-drop-to-6-month-low-as-trx-price-rallies-trouble-in-paradise">Tron network deposits drop to 6-month low as TRX price rallies — Trouble in paradise?</a>
<h2 data-ct-non-breakable="true" 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">plummeted to a six-month low</a> of $7.5 billion on June 26, indicating investors were pulling funds from the ecosystem.
On June 27, Tron’s (<a href="https://cointelegraph.com/tron-price-index">TRX</a>) token saw a 9.5% month-to-date rise, outperforming Solana’s (<a href="https://cointelegraph.com/solana-price-index">SOL</a>). Sun t moved 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/">THORChain founder and his plan to ‘vampire attack’ all of DeFi</a>

Tron surpasses Ethereum: $1.42M revenue in 24 hours

Table of Contents

Cointelegraph

Alte articole publicate pe 30 iul. 2024

Ripple CEO Slams SEC's Hypocrisy Amid U-turn in Binance Case

Bitwise Announces 10% Donation of Ethereum ETF Profits to Open-Source Developers

Play-to-earn is the ‘biggest superpower’ of Web3 gaming: Pixels CEO

Catch The Meme Coin Wave: MOONHOP’s $1M Presale Surge Beats Dogwifhat & PeiPei Predictions

Here’s Why There Are Green Candles Around For Pepecoin and Mpeppe (MPEPE)

Ethereum and Bitcoin ETF Funds Experience Significant Inflows and Outflows

Join our free newsletter for daily crypto updates!