Date: Wed, Oct 02, 2024, 02:28 PM GMT
In a significant milestone for the cryptocurrency world, TRON Network reported a record-breaking revenue of $577 million for the third quarter of 2024. This marks the highest revenue the network has achieved since its inception, with a 43% increase compared to the second quarter. The announcement was made by TRON founder Justin Sun on the X platform.
Source: X
The surge in revenue is primarily credited to the launch of SunPump, a memecoin generator that has rapidly gained popularity within the TRON ecosystem. This platform allows users to easily create and launch their own memecoins, tapping into the viral trend that has captured the attention of crypto enthusiasts worldwide. On a single day in August, TRON's daily revenue peaked at $5.33 million, surpassing even industry giants like Ethereum and Solana in terms of daily revenue generation.
TRON’s success with SunPump demonstrates the platform’s ability to innovate and engage its community. Since its introduction, over 89,000 memecoins have been created, showcasing the network’s capacity to handle large volumes of transactions while keeping fees minimal.
Source: DeFiLlama
However, despite the financial success, TRON’s native cryptocurrency, $TRX , saw a slight dip in price, trading at around $0.1543. This minor drop is attributed to broader market conditions, despite the network’s record activity.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
