Memecoin frenzy was a remedy for the Tron ecosystem

Smart contracts platform Tron achieved record third-quarter revenue with the superior performance of SunPump.

Rising market conditions have increased user activity in blockchains. Tron, one of the largest layer-1 blockchains by market value, has achieved record revenue. According to Messari’s report, the Tron blockchain increased its revenues by 30 percent compared to the previous quarter.

One-third of Tron’s $151 million quarterly revenue came from SunPump, a meme-coin creation platform that is a favorite of Tron founder Justin Sun and has given blockchain significant momentum.

SunPump wind in the Tron ecosystem

Messari addressed the Tron ecosystem in its report published on October 17. According to the report, the Tron blockchain, which managed to attract meme coin craze, significantly increased its transaction volume in the third quarter.

Memecoin platform SunPump enabled the release of more than 89,000 tokens between August 12 and September 30. The interest in SunPump increased Tron’s decentralized finance transactions by 487 percent in the third quarter.

The report included the following statements;

The activity of SunPump started to increase on August 16 and showed a parabolic increase in the following two-week period.

Messari reported that more than 270 million TRX were burned through SunPump between August 16 and 31, providing Tron with $42 million in revenue.

Blockchain analysis firm Messari reported that more than 7,500 tokens were released on SunPump on August 20, and a record level of TRX was burned on August 21.

Interest in SunPump significantly declined in September. According to the data, nearly a thousand tokens were generated on the platform daily in September.

SunDog (SUNDOG) is the largest memecoin to come out of SunPump, with a market cap of 217 million. Tron Bull (TBULL), another memecoin that exited the platform, recorded a high trading volume.

TRX continued to remain deflationary with the burning of 587.6 million coins in the third quarter. The daily average active address count on the blockchain reached 2.1 million, an increase of 6 percent.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.