Since July 23, Tron has been making more money than Ethereum. In the past 24 hours, Tron earned $1.42 million, while Ethereum made $844,276.
Tron’s higher earnings come despite Ethereum’s recent boost from the launch of new spot Ether exchange-traded funds (ETFs) in the U.S., which attracted $2.2 billion. Even with this, Ethereum earned about $600,000 less than Tron in the last week.
Over the past week, Tron has led the revenue race with $8.67 million, compared to Ethereum’s $8.08 million. Solana is in third place, with $940,009 in the last 24 hours but fell behind in the weekly figures, earning $6.38 million.
In the past month, Ethereum still leads with $52.48 million in revenue. Tron follows with $40.2 million, and Pump.fun made $25.83 million, surpassing Solana.
Tron’s founder, Justin Sun, recently announced a new project: a stablecoin that will allow free transactions on the Tron network. This project is set to launch in late 2024 and aims to cover transaction fees with the stablecoins themselves. There are also plans to introduce this stablecoin on Ethereum and other similar blockchains.
However, Tron faced a dip in its total value locked (TVL) to a six-month low of $7.5 billion in late June, indicating that investors were pulling out funds. Despite this, Tron’s TRX token saw a 9.5% increase in value during the same period.
There were concerns about Tron’s network, with a significant portion of its deposits concentrated in one app, JustLend, which saw a 15% drop in assets over the past month.
