Memecoin craze is a cure for the Tron ecosystem
Smart contracts platform Tron achieved record third-quarter revenue with the superior performance of SunPump.
Bullish market conditions increased user activity on blockchains. Tron, one of the largest layer-1 blockchains by market value, achieved record revenue. According to Messari's report, the Tron blockchain increased its revenue by 30 percent compared to the previous quarter.
One-third of Tron's $151 million quarterly revenue came from memecoin creation platform SunPump. Tron founder Justin Sun's favorite platform, SunPump, has added significant momentum to the blockchain.
SunPump wind in the Tron ecosystem
Messari covered the Tron ecosystem in its report published on October 17. According to the report, the Tron blockchain, which managed to attract the memecoin craze, significantly increased the number of transactions in the third quarter.
Memecoin platform SunPump has seen more than 89,000 tokens released between August 12 and September 30. The interest in SunPump has boosted Tronâs decentralized finance operations by 487 percent in the third quarter.
âSunPump activity began to increase on August 16 and then parabolically increased over the following two-week period,â the report said.
Messari reported that more than 270 million TRX was burned through SunPump between August 16 and 31. The burn generated $42 million in revenue for Tron.
Blockchain analytics firm Messari reported that more than 7,500 tokens were released daily on SunPump on August 20, and a record TRX burn was achieved on August 21.
Interest in SunPump dropped significantly in September. According to the data, nearly a thousand tokens were produced per day on the platform in September.
SunDog (SUNDOG) was the largest memecoin to emerge from SunPump with a market value of 217 million. Another memecoin to emerge from the platform, Tron Bull (TBULL), recorded high trading volume.
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