While the memecoin wind has been blowing in the markets lately, memecoins enabled the popular altcoin Tron to break a record.
According to Messari’s report, the new memecoin launch platform SunPump helped Tron reach this record.
Sun Pump led to a massive 487% increase in activity with over 90,000 tokens launched.
This surge brought Tron’s Q3 revenue to a record $151.2 million, up 30% from the previous quarter. The vast majority of this revenue came from SunPump, which led to a massive three-month surge in DeFi transactions with over 90,000 tokens released between August 12 and September 30.
“TRON experienced a sharp increase in revenue in Q3, driven by the popularity of SunPump, a token launch platform designed for memecoins. SunPump activity began to increase on August 16 and progressed parabolically over the following two-week period.”
Messari also noted that over 270 million TRON (TRX) tokens were burned between August 16-31, generating approximately $42 million in revenue from burning tokens, equivalent to approximately 27% of Tron’s Q3 revenue.
The report stated that the memecoin named SunDog (SUNDOG) was the largest memecoin to emerge from SunPump with a market value of $217 million, and that, apart from SUNDOG, memecoins named Tron Bull (TBULL) and Invest Zone (IVFUN) also reached high transaction volumes.
Finally, it was stated that Tron's average daily transaction number increased by 14.4% to 7.2 million in the third quarter, and the average daily active address number increased by 6% to 2.1 million.
Tron (TRX) continues to trade at $0.159 at the time of writing.
*This is not investment advice.
