CandleFocus Tron’s Q3 2024 Revenue Grows by 6% in TRX Amidst Meme Coin Boom
2024-10-19
Author: Content Editor
Tron, a blockchain platform, reported a record revenue of $151.2 million in Q3 2024, a 29% increase from the previous quarter. The surge in meme coins, facilitated by the launch of the SunPump platform, played a significant role in driving this growth. Between August 16 and August 31, over 270.3 million TRX (worth around $42 million) was burned on SunPump, accounting for nearly 27% of Tron's Q3 revenue. The average daily DEX volume saw a 150% increase, reaching its highest level since 2022, with the launch of SunPump. Additionally, the stablecoin market cap on Tron increased by 3% in Q3, primarily driven by USDT which holds a 98% market share on the network.
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