TRON DeFi Explodes with SunPump Launch, DEX Volumes Surge 150%

• SunPump fueled TRON’s strong revenue growth and significant rise in DEX trading activity.  
• TRX’s deflationary model increased its market cap and improved its position among top cryptos.  
• SUN V2 saw massive growth due to memecoin liquidity, becoming a key part of TRON’s DEX ecosystem. 

TRON’s decentralized finance (DeFi) network is booming, thanks to the launch of SunPump, a new memecoin platform. This has driven significant growth in decentralized exchange (DEX) volumes and overall network activity.

TRON recorded its highest-ever quarterly revenue in Q3 2024. Revenue jumped 29%, from $117.5 million to $151.2 million. In TRX terms, the network’s token revenue increased by 6%, reaching 1.05 billion TRX.

SunPump’s impact is clear. Between August 16 and August 31, the platform’s activity burned 270.3 million TRX, representing 27% of TRON’s Q3 revenue. On August 21 alone, 34.7 million TRX were burned, a new record for the platform.

SunPump Ignites DEX Trading Volume

SunPump has significantly boosted DEX volumes across the TRON network. The average daily DEX volume soared by 150% quarter-over-quarter, from $26.4 million in Q2 to $65.8 million in Q3. SunSwap, a popular DEX on TRON, saw a surge in volume on its SUN V2 and SUN V3 platforms, which hosted the majority of the memecoin trading activity.

SUN V3 emerged as the dominant version, accounting for 51% of the total DEX volume on TRON. The average daily volume on SUN V3 reached $33.3 million, a 53.9% increase QoQ.

However, SUN V2 experienced the most dramatic growth. This version, which supports liquidity pools for bound memecoins from SunPump, saw its daily DEX volume increase by 982% QoQ, from $2.6 million to $27.9 million.

Source: Messari

TRX Market Cap and Deflationary Effects

TRX’s circulating market capitalization grew by 24% QoQ, from $10.9 billion to $13.5 billion. This surge propelled TRX into the ranks of large-cap crypto assets, pushing its market cap ranking from 10th to 9th place.

Read also: TRON Now Leads in Daily Transactions, Outpacing Bitcoin and Ethereum

The deflationary nature of TRX, where transaction fees are burned, also contributed to the token’s price appreciation during the quarter. This price increase resulted in a 4% rise in TRON’s total value locked (TVL) in USD, which reached $8.09 billion.

SunPump saw significant activity in Q3, with over 89,000 tokens created by the end of the quarter. On August 20, over 7,500 tokens were launched, generating 3.7 million TRX in revenue. The memecoin activity also attracted attention from exchanges like HTX and Poloniex, which listed popular SunPump tokens.