SunPump Memecoin Frenzy Boosts Tron’s Quarterly Revenue to Record $151M: Messari
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Tron’s memecoin launchpad, SunPump, has driven the blockchain’s quarterly revenue to an all-time high of $151.2 million in the third quarter of 2024, according to a report by Messari.
This marks a significant 30% increase compared to the previous quarter, fueled by a surge in decentralized finance (DeFi) activity linked to the launch of over 89,000 memecoins between August 12 and September 30.
The report, released on October 17, highlights a staggering 487% increase in Tron’s DeFi transactions during Q3.
“SunPump activity began picking up on August 16 and went parabolic in the following two-week period,” Messari noted, indicating a critical period of growth.
During the latter half of August alone, over 270 million TRON (TRX) tokens were burned, generating approximately $42 million—nearly 27% of Tron’s total quarterly revenue.
A record-breaking 7,500 tokens were launched on a single day, August 20, while August 21 witnessed the largest single-day burn of TRX in Tron’s history.
Despite this surge, memecoin launches slowed significantly in September, dropping to fewer than 1,000 new tokens per day.
Among the successful projects, SunDog (SUNDOG) stood out, achieving a market capitalization of $217 million.
Other popular tokens, such as Tron Bull (TBULL) and Invest Zone (IVFUN), also saw considerable trading volumes.
Tron’s native token, TRX, continued its deflationary trend in Q3, with a net burn of 587.6 million tokens.
The token’s circulating market cap increased for the seventh consecutive quarter, rising by 24% to reach $13.5
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