Tron generated $23.41m in revenue over the past 30 days, exceeding the combined total recorded by Ethereum, Solana, Base and six other networks.
On-chain analytics account Lookonchain highlighted the figures earlier today, while DefiLlama’s revenue tables show Tron leading all chains across the 24-hour, seven-day and 30-day periods.
Adding BSC, Arbitrum, Hyperliquid L1 and Avalanche to the comparison, the next nine chains produced about $21m between them over the same 30 days. Tron therefore exceeded their combined figure by roughly $2.4m.
DefiLlama estimates the network’s revenue at approximately $340m over the past year.
The main driver is the volume of dollar-denominated tokens moving across the network. Tron holds about $94.5bn in stablecoins, according to DefiLlama’s stablecoin tracker, from a total market of roughly $302bn. Only Ethereum, with approximately $144bn, has more.
Tether’s USDT accounts for most of Tron’s stablecoin balance. A report covering Tron’s second quarter said USDT holdings on the network had surpassed $89bn by the end of June, marking an all-time high and representing just over 47% of all USDT in circulation.
The same report recorded an average of 3.5 million daily active users between April and June.
Although Ethereum hosts a larger value of stablecoins, much of that capital is held in decentralised finance protocols rather than actively transferred. On Tron, stablecoins are used mainly for exchange withdrawals, remittances and merchant payments conducted on the base chain. Fees for those transactions are paid in TRX.
The payment flows being monetised by Tron are also attracting major financial companies. Bitcoin.com News reported last week that Visa had moved its stablecoin payments pilot into production, underlining the growing use of this type of infrastructure for mainstream payments.
Tron’s position at the top of the revenue table does not mean its income is increasing. Its 30-day total is 4.2% lower than in the previous 30-day period, while revenue over the past 24 hours fell 12.4% compared with the day before.
Ethereum has moved in the opposite direction over the longer comparison, with 30-day revenue up 117% from the preceding period. Its latest seven-day figure, however, fell sharply after an earlier spike.
Quarterly figures offer a similar comparison. Recent reports put Tron’s protocol fees at $89m in the second quarter, behind only Hyperliquid, which recorded $199m. Hyperliquid’s exchange fees are not classified as “chain” revenue by DefiLlama, helping explain why it ranks ninth in this particular table despite its trading volume.
There are also limits to comparing base-layer revenue across ecosystems. Solana generates substantial income at the application level, and Bitcoin.com News recently reported that Solana apps produced $193m over 30 days. A chain-revenue ranking measures what the network itself retains, rather than all spending by its users.
Tron has now processed more than $30tn in transfers over its lifetime, while TRX trades at $0.34, almost exactly the $0.3383…
