On October 15, Lookonchain reported that Tron Network’s revenue skyrocketed to $7.28 million, marking a 170% increase compared to $2.69 million during the same period last year. This impressive growth highlights Tron’s expanding influence in the blockchain industry and its increasing user adoption, particularly in emerging markets.
As of today, TRON is trading at $0.1595, up by nearly 1% in the last 24 hours, while the global market cap stands at $13.81 billion, with a 24-hour trading volume increase of 4.57%.
TRON Network’s Booming Partnerships
The recent collaboration between Tron and Aeon, a payments system that will use Tron’s blockchain as its main infrastructure for cryptocurrency payments, is a major reason for this rise.
With this agreement, which was announced on October 14, dApps on Tron will be able to take cryptocurrency payments through Aeon’s infrastructure, increasing their functionality. The integration will make it easier to incorporate other payment options, such as subscriptions and tips, making the Tron ecosystem’s payment system more streamlined and effective.
“This streamlined process will reduce barriers to adoption, providing faster and more efficient payment experiences within the Tron ecosystem,” Aeon said in a statement.
TRON Outperforms Ethereum and Bitcoin in Revenue
Furthermore, according to data from Token Terminal, Tron has outpaced bigger blockchain networks in terms of revenue. Tron’s revenue growth puts it in a competitive position, despite Bitcoin and Ethereum posting respective quarterly profits of approximately $56.3 million and $256 million.
It’s crucial to remember that blockchain networks make money from a variety of sources, including fees, revenue, and other technical means, so making comparisons only on the basis of revenue may not give the whole picture.
Tron’s position as the second-biggest stablecoin blockchain, only surpassed by Ethereum, i also to be noted. DefiLlama research shows that Tron holds around 35% of the $172 billion stablecoin market capitalization.
People are drawn to more stable assets like US Dollar-pegged stablecoins like Tether in emerging areas like South America and Africa due to high inflation and volatile local currencies.
Tron’s solid financial performance indicates that investors are becoming more optimistic about the network’s long-term prospects as it continues to deepen its alliances and improve its ecosystem.
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