The TRON blockchain network has demonstrated remarkable user engagement, maintaining a 30% daily user retention rate throughout July. This insight comes from data analysis by CryptoQuant, revealing a significant portion of TRON users finding consistent value in the network.
According to IntoTheBlock, TRON has seen a surge in network activity since the beginning of the year. Daily active addresses have increased by 52%, averaging over 2.42 million compared to 1.59 million on January 1st.
TRON surpasses Ethereum in revenue generation
Meanwhile, since July 23, TRON has outperformed Ethereum in revenue generation. As per DefiLlama data, TRON managed to accumulate $1.42 million in revenue within 24 hours, exceeding Ethereum’s $844,276 figure.
This accomplishment holds significance, especially considering the recent introduction of spot Ether ETFs in the United States, resulting in a substantial $2.2 billion influx. Over the past week, TRON secured the top spot in revenue generation with $8.67 million, compared to Ethereum’s $8.08 million.
Solana claimed the third position with $6.38 million in weekly revenue. Zooming out, Ethereum held its ground over the past month, leading with $52.48 million in revenue, with TRON following closely at $40.2 million.
Adding to the excitement, TRON’s founder, Justin Sun, recently unveiled a pioneering concept for a stablecoin solution devoid of gas fees, paving the way for seamless peer-to-peer transactions. The team is set to implement this innovation on the TRON blockchain by the end of 2024, with future plans to extend its reach to Ethereum and other EVM-compatible networks.
Despite encountering some positive shifts, the network encountered obstacles in June when its total value locked (TVL) plummeted to a six-month low of $7.5 billion on June 26. Conversely, its native token, TRX, experienced a substantial 61% rise year to date.
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