Tron’s Revenue Reaches $2.12 Billion in 2024: Ethereum, Solana Trail Behind

Tron (TRX) Achieves Record Revenue Despite Price Struggles

In the first week of December 2024, Tron (TRX) hit an all-time high of $0.44, driven by a crypto-wide bull run following Donald Trump’s presidential victory. However, the euphoria was short-lived as TRX’s price has since declined by over 43%, stabilizing around $0.25 for nearly two weeks.

Despite its price challenges, Tron has shown remarkable growth in other areas, particularly in revenue generation.

Tron Leads in Revenue Rankings

Recent data from Lookonchain reveals that Tron’s network revenue surged to approximately $330 million in the past 30 days, marking a 39.7% increase compared to the previous month. Over the past 90 days, the network generated $764.11 million, underscoring its consistent financial growth.

Key drivers of this growth include the rapid success of SunPump, a token launcher platform tailored for meme coins. Launched on August 16, SunPump saw activity skyrocket within its first two weeks, contributing significantly to Tron’s performance in Q3 2024.

On an annual scale, Tron’s total revenue for 2024 reached $2.12 billion, reflecting a 115% year-on-year increase. This achievement has solidified Tron’s position at the top of blockchain revenue rankings, surpassing Ethereum, which recorded $2 billion in revenue for the year.

Comparison with Other Blockchains

While competitors like Solana boast an impressive 3,028% growth trend and a $90.9 billion market cap, they fall short of Tron in terms of revenue. Other emerging blockchains, including Arbitrum ($44.7 million) and Optimism ($37.9 million), also lag significantly behind Tron.

Can TRX Rebound?

The cryptocurrency market has turned bearish post-Christmas, with TRX experiencing notable losses. However, analysts believe the token could soon find a local bottom. Resistance levels are anticipated at $0.40 and $0.49, presenting potential recovery targets.

Community interest remains high, fueled by speculation around Grayscale’s involvement and initiatives led by Tron’s founder, Justin Sun.

Outlook for Tron

While TRX’s price struggles persist, the network’s revenue dominance and consistent growth signal a strong foundation for future developments. With innovative platforms like SunPump and a growing ecosystem, Tron is well-positioned to capitalize on the next market uptrend.

Investors and community members will be watching closely to see if TRX can regain its momentum and chart a bullish reversal in the coming weeks.