Bitrabo Editorial
Tron has emerged as a powerful player in the cryptocurrency space, with remarkable growth noted over the past ten months. It stands out for leading the way in USDT transfers, further establishing itself in the meme coin arena while capturing market share from Solana.
Tron Sees 170% Yearly Revenue Growth
Recent statistics indicate that Tron’s comeback and its rise in USDT transfers, overtaking Ethereum and others, has resulted in a significant revenue increase of 170% year-on-year.
As per Lookonchain reports, the network’s revenue has climbed to $7.28 million by mid-October, a jump from $2.69 million for the same period last year.
Like Ethereum and other blockchains, Tron utilizes 27 Super Validators to handle transactions and maintain network security. Each transaction or deployment of smart contracts incurs a gas fee.
According to IntoTheBlock, the average fee for transactions on Tron is just $0.21. These low fees combined with heightened scalability make Tron a favorable option for USDT holders focused on remittances rather than trading or minting meme coins.
Meme Coin Activity and SunPump Boosting Earnings: Will TRX Rally Again?
The introduction of SunPump, a launchpad for meme coins in August, attracted a wave of new minters and speculators, leading to increased fee generation on the platform alongside regular token and USDT transfers.
According to Dune, since the launch of SunPump in early August, over 90,800 meme coins have been created on Tron. However, after a peak in activity during the third week of August, the momentum has declined, with only 16 new tokens recorded in the last 24 hours.
Additionally, SunPump has contributed over $5.4 million in revenue for Tron validators, with peak revenues on August 21, when it generated more than $588,000 from transaction charges.
Interest in SunPump and the successful launch of its first meme coin, SunDog, pushed TRX prices upwards to over $0.16 by August 25.
Nonetheless, with a reduction in meme coin activity and a decline in SunPump revenue, TRX prices have also begun to fall. As of now, local support is at $0.15, but if buyers can drive prices above $0.17, TRX could potentially reach new all-time highs.