Summary: TRON is currently the top-grossing blockchain, overtaking Ethereum and Bitcoin. Stablecoin and memecoin trading has driven the increase while TRX, the cryptocurrency, has declined by 9.22% to $0.2230.
TRON is here as the top-grossing blockchain in the last week, trailed by Ethereum, Solana, and Bitcoin. The network also experienced high levels of user engagement, with a total of over 6.19 million active addresses and 60 million transactions, reflecting a 3.2% surge.
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Bitcoin was not as lucky. The revenue in fees from mining on the network declined 45% and collected only $3.03 million. To make things worse, active addresses on Bitcoin decreased 7.5%, reflecting slower traffic on-chain.
TRON’s revenue growth is largely fueled by its increasing stablecoin ecosystem as well as the popularity of memecoins on its network. TRON alone accounted for $566 million in transaction-based revenue in Q3 2024, surpassing Ethereum and Bitcoin.Its popularity is driven partly by minimal transaction charges, as well as in DeFi and stablecoin markets.
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Despite all that revenue surge, native token TRON, TRX, went down 9.22% last week. It’s currently selling at $0.2230 with a market capitalization of $21 billion.
