Tron’s (TRX) price reached an all-time high of $0.44 in the first week of December 2024, smashing previous records amid a crypto-wide bull run that gained steam after Donald Trump’s presidential win. TRX’s return to the 10th position by market capitalization has brought a sense of revival to the community, yet its price continues to struggle, down over 43% from its newly established peak and stuck around the $0.25 level for nearly two weeks.
Despite this, Tron’s monthly revenue has steadily increased.
Tron Tops Revenue Rankings
According to the latest findings by Lookonchain, the Tron network has seen a significant surge in revenue over the past 30 days, reaching approximately $330 million – an increase of 39.7% compared to the previous month. As a result, revenue climbed to $764.11 million over the past 90 days.
In the third quarter of 2024, Tron recorded a significant revenue surge that can be attributed to the rapid success of SunPump, its token launcher platform tailored for meme coins. SunPump gained traction starting August 16, with activity skyrocketing in the two weeks that followed.
Zooming out, this growth has contributed to more than 115% year-on-year rise in the network’s total revenue for 2024, which now stands at $2.12 billion. This is further validated by CryptoDep’s data, which shows Tron topping the blockchain revenue charts for 2024. This placed Tron ahead of Ethereum, which trails behind with $2 billion in revenue.
Meanwhile, Solana, despite its impressive 3,028% growth trend and $90.9 billion market cap, remains far behind Tron in revenue generation. Similarly, Base and other emerging blockchains, such as Arbitrum, with $44.7 million, and Optimism, with $37.9 million, lag significantly behind.
A Bullish Reversal For TRX?
Nevertheless, the cryptocurrency market as a whole turned bearish post-Christmas, with TRX suffering significant losses. The holiday season has been a lull for the crypto, but it could soon find a local bottom.7
Resistance zones are anticipated at $0.40 and $0.49. Speculations about asset manager Grayscale and Tron founder Justin Sun’s recent initiatives have driven community interest.
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