The Tron blockchain has outperformed Ethereum in terms of revenue, generating $1.42 million over the past 24 hours, according to data from DefiLlama. During the same period, the Ethereum network earned $844,276.

Tron’s Consistent Revenue Growth

Despite Ethereum’s recent launch of spot Ether exchange-traded funds (ETFs) in the United States, which brought in $2.2 billion, Tron has maintained its dominance in revenue generation. Over the past week, Tron generated approximately $600,000 more in fees than Ethereum.

Since July 23, Tron has consistently held the top spot in daily revenue. In the last seven days, Tron recorded $8.67 million in revenue, surpassing Ethereum’s $8.08 million.

Solana, another major blockchain, generated $940,009 in revenue over the past 24 hours, which is higher than Ethereum’s earnings during the same period. However, Solana’s seven-day revenue of $6.38 million was less than both Tron and Ethereum.

Monthly Revenue Comparison

Over the last 30 days, Ethereum remains the leading revenue generator with $52.48 million. Tron follows with $40.2 million, and Pump.fun recorded an impressive $25.83 million, outperforming Solana.

Tron’s founder, Justin Sun, recently announced the development of a gasless stablecoin solution aimed at enabling free peer-to-peer transfers. This solution will cover transaction fees using the stablecoins themselves and is set to be integrated into the Tron blockchain by the fourth quarter of 2024. There are also plans to extend this solution to Ethereum and other Ethereum Virtual Machine-compatible public chains.

Challenges and Setbacks

Despite these advancements, Tron faced a setback when its total value locked (TVL) dropped to a six-month low of $7.5 billion on June 26. However, the following day, Tron’s token experienced a 9.5% month-to-date increase, outperforming Solana. Additionally, Justin Sun moved 173.8 million TRX, worth $21.4 million, to a Binance deposit address.

One concern within Tron’s network is the concentration of 75% of its total deposits in a single decentralized application, JustLend. Over the past 30 days, JustLend saw a 15% decrease in assets.

Legal Battle with the SEC

Tron’s parent company is currently seeking the dismissal of a lawsuit filed by the United States Securities and Exchange Commission (SEC). The lawsuit, which was filed in March of last year, targets Justin Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry Inc. The SEC alleges that the sale of Tron and BitTorrent (BTT) tokens constituted unregistered securities offerings and accuses Sun of manipulative trading and undisclosed payments to celebrities to promote the tokens.

In a motion filed in a New York federal court, the Tron Foundation argued that the SEC’s focus on predominantly foreign conduct goes beyond its jurisdiction. The foundation contends that the SEC is overreaching its authority by attempting to apply US securities laws to activities that are largely foreign.

Despite the legal challenges, Tron continues to make significant strides in the blockchain space, consistently outperforming its competitors in revenue generation.