- Tron network hit a new annual high of recording 7.99 million transactions.
- The network’s revenue has exceeded Ethereum’s revenue by 50%.
The Tron network founded in 2017 maintained an average of 7 million transactions per day with over 8.2 billion transactions. This network has now recorded an impressive 7.99 million daily transactions last week. The low gas fee of the network is one of the major reasons for the high number of transactions.
Justin Sun, in his official X post that was posted on August 14th, said:
“The gas fee has already been reduced to 2 TRX. We’ll monitor it over the next few days, and if everything is OK, it may be further reduced to 1 TRX”.
According to Lookonchain, some traders have made 100x profit trading memecoins on the network. Trader “TEP7…T1da” has benefited from a 104x gain by spending 5000 TRX to buy 6.87M SUNDOG and sold 4.57M for 522,840 TRX making $67.3K in remarkably less time. The trader is said to hold $76K worth of SUNGOG.
Tron Network Exceeds Ethereum Revenue
Tron network now has more revenue than Ethereum and a few other major networks. Over the past few days, the Tron network has accumulated $34.6M by passing Ethereum’s revenue of $5.51M in the past 7D, according to data from Token Terminal. In the last 90 days, the Tron network has accumulated $434 million in fees compared to Ethereum’s roughly $364 million.
Justin Sun, CEO of TRON has also highlighted that if the trend continues, TRON’s protocol revenue could surpass $2 billion this year, making it the most profitable blockchain network.
At the time of writing, TRX is currently trading at $0.1318 showing a 0.01% decrease. As the tenth biggest altcoin per market cap, TRX has a trading volume of $329M and a 2.53% increase in the past 24 hours as per CMC. It shows a persistent upward journey amidst the market volatility.
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