Highlights:
- Tron topped the chart of a recently released list containing the best revenue-generating crypto projects.
- Other popular cryptocurrencies that made up the list included Ethereum and Solana.
- Ethereum’s ETF sales contributed to its remarkable feat despite unimpressive outflows.
Tron (TRX), Solana (SOL), and Ethereum (ETH) are generating waves by featuring in a recent top revenue-generating crypto projects ranking. Conversely, top cryptocurrencies, including Bitcoin (BTC), XRP, and Dogecoin (DOGE), were absent in the latest rankings, eliciting concerns among enthusiasts.
Advertisement
Renowned crypto analytical platform Lookonchain tracked the statistics and reported it via its verified X handle. Subsequently, this insight will dwell on Lookonchain’s shared rankings and possible contributing drivers.
Top 10 Ranking of Revenue-Generating Projects in Crypto
Apart from Tron, Solana, and Ethereum, other cryptocurrencies that completed the top ten rankings were Pump, Trojan, PancakeSwap (CAKE), Maker (MKR), Aerodrome (AERO), and Uniswap Labs. Surprisingly, Tron led every other crypto project in both 24-hour revenue and 7-day revenue, with about $1.42 million and $8.67 million, respectively.
Solana ranked second in 24-hour revenue with $940K. However, in 7-day revenue, Ethereum ranked second despite clinching the fourth spot in 24-hour revenue. Ethereum’s 24-hour and 7-day revenues were $844.3K and $8.08 million, respectively. On the other hand, Solana’s 7-day revenue was $6.38 million. Pump ranked third in 24-hour revenue with $867.4K. However, it dropped to fourth in 7-day revenue with $6.31 million.
Here are the top 10 revenue-generating projects in crypto.#Tron ranked first, with 24-hour revenue of $1.42M and 7-day revenue of $8.67M.#Solana ranked 2nd, with 24-hour revenue of $940K and 7-day revenue of $6.38M. pic.twitter.com/nxpSaXHohK
— Lookonchain (@lookonchain) July 30, 2024
Factors Driving Tron’s Appearance in the Revenue-Generating Projects Listings
Tron is a decentralized cryptocurrency that has amassed widespread adoption because of its low gas charges and transaction speed. Aside from its affordable and rapid network, recent events have contributed to Tron’s remarkable feat.
In a previous publication, Tron’s network founder, Justin Sun, revealed Tron’s gas-free stablecoin transfers will roll out in 2024’s Q4. According to the founder, the innovation will enhance blockchain transaction efficiency. Additionally, Tron is a relatively cheap crypto asset, implying that market participants could accumulate the tokens in considerable stores.
Factors Driving Solana’s Impressive Feat
Like Tron, Solana is also a decentralized protocol with swift transaction speed. Over the past few months, SOL has attracted considerable attention with its tremendous price changes. In its year-to-date statistics, Solana has appreciated by about 631% while outperforming almost 90% of top-performing cryptocurrencies in current price actions.
In addition, Solana could become the next cryptocurrency to launch an Exchange Traded Fund (ETF) market after Ethereum. Interestingly, 21Shares has filed for a Solana spot ETF with the United States Securities and Exchange Commission (SEC). Meanwhile, before the 21Shares application, VanEck had filed for the first Solana ETF. Hence, it is undoubtedly safe to say that the Solana ETFs seem closer than envisaged.
Factors Driving Ethereum’s Busy Network
For Ethereum, the factors driving the network’s inclusion in the list of revenue-generating crypto projects are apparent. Ethereum’s most significant driver remains the Ethereum ETF sales that graced the market space a few days ago. While the market outcomes of ETH ETF sales have recorded more outflows, its influence remains significant in driving ETH’s busy network.
Furthermore, the U.S. SEC has closed investigations involving Ethereum 2.0. Therefore, the Ethereum network could be deemed free of regulatory constraints, which makes investment in it safe. Other positive factors contributing to ETH’s remarkable market actions stem from its position as the most valuable altcoin. Also, its impeccable price actions over the years remain crucial in sustaining its market relevance.
Learn More
- Next Cryptocurrency to Explode in July 2024
- Crypto Price Predictions
- Best Solana Meme Coins to Buy In 2024
Advertisement
