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Tron has exceeded Ethereum in revenue since July 23, highlighting competition.
In a surprising turn of events, Tron has now made more daily income than Ethereum. This is a big change in the world of cryptocurrencies.
DefiLlama data shows that it made $1.42 million in the last 24 hours, which is a lot more than Ethereum’s $844,276 during the same time period.
Spot Ether exchange-traded funds (ETFs) were launched in the US on July 23, which brought in $2.2 billion. But Ethereum made less money than Tron. According to the most current CoinShares report, Ethereum had about $600,000 less in fees than TRX over the last seven days, ending on July 30.
When it comes to making the most money, it has stayed on top since July 23. Last week, Ethereum sold 8 million dollars worth of coins, while Tron sold 867 million dollars worth of coins. Solana, which is also a big name in the blockchain world, made $940,091 in 24 hours, which is more than Ethereum but less than the $6.38 million it made all week.
Tron innovates amid rising revenue competition and market challenges
The most money that Ethereum has made in the last 30 days is $52.48 million. However, it is getting more and more difficult to beat. Tron and Solana-based memecoin creation platform Pump.fun have grown much faster than Ethereum. It made $40.2 million while Pump.fun made $25.83 million.
Tron founder, Justin Sun, recently made a big change for the network. Sun announced on July 6 that the team was working on a gasless stablecoin solution that will allow people to send money to each other for free.Â
With this new concept, the stablecoins themselves will pay the transaction fees. Sun plans to add this answer to the blockchain by the fourth quarter of 2024. He also wants to make it work with Ethereum and other public chains that are EVM-compatible.
According to data from DefiLlama, the blockchain’s total value locked (TVL) hit a six-month low of $7.5 billion on June 26. This means that investors are pulling their money out of the ecosystem. But the value of TRX, went up a lot as of June 27, it had grown by 9.5% month-to-date. A large amount of 173.8 million TRX, equal to $21.4 million, was seen moving to a Binance payment address.
75% of all its payments went to JustLend, a decentralized app. Things in this app have lost 15% of their value in the last 30 days.
