In a significant milestone, Tron’s recent memecoin launchpad, SunPump, propelled the blockchain to achieve an all-time high revenue of $151.2 million during the third quarter of the year. According to data from the crypto analytics platform Messari, this marks an impressive nearly 30% increase compared to the previous quarter.
From August 12 to September 30, over 89,000 new tokens were introduced via SunPump, which contributed to an extraordinary 487% surge in decentralized finance (DeFi) transactions on the Tron network.
The excitement surrounding this launch began on August 16, and activity surged in the weeks that followed. During this period, more than 270 million TRON (TRX) tokens were burned, translating to approximately $42 million, which accounted for around 27% of Tron’s total revenue for Q3.
The token launch frenzy reached its zenith on August 20, when over 7,500 tokens were launched in a single day. However, this remarkable momentum experienced a downturn in September, with daily token launches declining to under 1,000.
Among the newly launched tokens, SunDog (SUNDOG) distinguished itself as the leading memecoin, boasting a market capitalization of $217 million. Furthermore, Tron’s overall market cap experienced a 24% increase, rising to $13.5 billion by the quarter’s end.
Although there was a slight decline in the total value locked (TVL) within DeFi protocols, which dropped to $6.98 billion, the Tron network continues to draw considerable interest. The platform recorded an impressive average of 7.2 million daily transactions, reflecting its growing prominence within the cryptocurrency ecosystem.
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