The launch of the SunPump memecoin platform on the Tron blockchain marked a significant event impacting the company’s financial performance. In Q3, Tron’s revenue reached a record $151.2 million, a 30% increase from the previous quarter.
Impact of SunPump Launch on Tron
A memecoin frenzy resulted in over 89,000 tokens being launched on SunPump from August 12 to September 30. Activity on SunPump began picking up on August 16 and went parabolic over the following two weeks. Between August 16 and 31, over 270 million TRON (TRX) tokens were burned, generating about $42 million — nearly 27% of Tron's Q3 revenue.
September Activity Decline and Key Memecoins
In September, the number of new tokens launched on SunPump dropped significantly to consistently less than 1,000 a day. SunDog (SUNDOG) became the largest memecoin with a market cap of $217 million. Other notable memecoins include Tron Bull (TBULL) and Invest Zone (IVFUN).
Tron's Financial Growth and Metrics
The circulating market cap of TRX increased for the seventh straight quarter by 24% to $13.5 billion by the end of Q3. Tron’s average daily transaction count increased by 14.4% to 7.2 million, while the average daily active addresses rose by 6% to 2.1 million. The total value locked (TVL) in Tron decentralized finance protocols was $8.1 billion by the end of Q3 but has since slid to $6.98 billion.
The launch of SunPump significantly boosted Tron's financial performance in Q3, yet the platform's activity slowed down in September. However, other metrics such as increased transaction volumes and active addresses indicate continued growth in Tron’s ecosystem.