As a seasoned researcher with a knack for deciphering blockchain trends and a penchant for spotting opportunities, I find the recent developments in the crypto market particularly intriguing. The surge in TRON’s revenue by 46.5% is undeniably impressive, outpacing Ethereum’s decline and even surpassing it on Aug. 22. This shift is noteworthy, especially considering my personal investment in both networks over the past few years.
TRON network’s revenue saw an impressive rise in August while Ethereum recorded a notable decrease.
As a researcher, I’ve observed an intriguing trend in the financial performance of TRON (TRX). According to data from Lookonchain, TRON’s monthly revenue surged by approximately 46.5% in August compared to July. This growth took its revenue from $41.9 million in July to a staggering $61.4 million in August. Interestingly, this places TRON second only to Ethereum (ETH) in terms of network revenue for the month of August, with Ethereum reporting a revenue of $62.6 million. This upward trajectory is certainly worth further investigation and analysis.
In August, the Tron Network’s gas earnings rose by approximately 46.54% compared to July. Similarly, Binance Smart Chain (BSC) experienced a 6.63% increase in gas income during the same period. Conversely, Ethereum’s gas revenue decreased by 33.44%, Solana’s dropped by 48.51%, and Bitcoin‘s earnings fell by 16.85%.
— Lookonchain (@lookonchain) September 3, 2024
Data shows that Ethereum’s revenue plunged 33% from July’s $94 million mark.
According to a report from crypto.news, TRON’s daily income peaked at a record $5.33 million on August 22, surpassing Ethereum. This spike occurred following heightened interest from investors and traders in SunPump, a meme coin platform on the TRON network that competes with Pump.fun.
According to information from Lookonchain, Solana (SOL) ranked third in terms of monthly earnings, bringing in approximately $25.6 million. It’s worth mentioning that Solana’s earnings dropped significantly in August, nearly halving to around $49.8 million.
In August, Bitcoin (BTC) experienced a 16.8% reduction in its monthly income compared to July. The earnings dropped down from approximately $24.9 million in July to about $20.7 million in August.
As an analyst, I’ve observed a notable growth in the monthly revenue of Binance Smart Chain. According to Lookonchain’s data, the chain witnessed a 6.6% increase, moving from approximately $10.5 million in July to around $11.2 million last month.
Based on information from crypto.news’ pricing section, Tron (TRX) is the sole token from the list that has experienced an increase in price over the last 30 days, amounting to a 22% rise. On the other hand, Bitcoin (BTC) and Ethereum (ETH) have seen decreases of 4.4% and 16% respectively during this period.
Binance Coin (BNB) and SOL witnessed 2% and 6.3% drops over the past month.
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2024-09-03 12:34