TRON (TRX) is generating significantly higher revenue than Ethereum, according to recent data highlighted by analyst aixbt. The figures show TRON brought in approximately $160 million in revenue in January, starkly contrasting with Ethereum's roughly $4.83 million over the last 30 days. This substantial revenue generation is occurring alongside notable institutional developments for the TRON network.
Bitwise has filed for a TRX exchange-traded fund (ETF), and TRON has been added to the S&P Crypto 10 index. Furthermore, nearly 48% of the TRX supply is staked, which analysts suggest helps reduce sell pressure. Despite these fundamentals, TRX's market valuation appears disconnected, trading at a revenue multiple near 0.3x compared to Ethereum's 12x, indicating the market may be undervaluing TRON's cash flow.
Concurrently, TRX price action shows signs of a potential technical reversal. The token is testing a double bottom pattern around its previous altcoin season lows, with a key neckline resistance near $0.32. On-chain data reveals growth, with Active Addresses increasing from 2.783 million to 4.184 million since the start of 2026. Institutional accumulation is also evident, as Tron Inc.'s treasury recently purchased 177,146 TRX, bringing its total holdings to 682.3 million TRX valued at $199 million.
Demand for TRON's stablecoin infrastructure remains robust, with USDT supply on the network reaching $81 billion and transaction count hitting 825 million in the past year. The platform recently gained further utility with Polymarket announcing support for TRON deposits. However, persistent concerns over network decentralization and the legacy of founder Justin Sun continue to act as a ceiling on broader investor sentiment and adoption in Western markets.
