SNEAK PEEK

  • SunPump’s rapid success brings over $1.1M in revenue within 11 days on the Tron blockchain.

  • Tron’s ecosystem benefits as SunPump boosts liquidity and attracts $10M in incentive support.

  • Debate continues over memecoin value despite SunPump’s impact on Tron’s recent revenue surge.

A new memecoin deployer on the Tron blockchain, SunPump, has achieved significant revenue in a short span, generating over $1.1 million in just 11 days since its launch. The platform, backed by Tron founder Justin Sun, has seen a substantial influx of liquidity, marking a notable success in the rapidly evolving memecoin sector.

SunPump officially went live on August 9 and immediately got a great start within the TRON ecosystem. According to the numbers on the web analytics platform Dune, it has grossed a total revenue of 7 million Tron (TRX). 

The peak day for SunPump was on August 20, when it earned nearly 2.78 million TRX, equivalent to $400,000. Over 6,000 memecoins have been created on the platform, reflecting the growing interest in the Tron-based memecoin market.

On August 20, SunPump experienced a temporary outage due to an unexpected surge in traffic. Justin Sun addressed the issue on social media, stating that the developers were working to scale up the platform’s capacity. The service was restored within an hour, allowing users to continue their activities.

All services have been fully restored. https://t.co/ep7hjExxpd

— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 19, 2024

The launch of SunPump has had a positive impact on the Tron blockchain, with liquidity flowing into the network. This growth has been further supported by a $10 million allocation from Sun’s Meme Ecosystem Boost Incentive Program. 

Additionally, Tether, a major stablecoin issuer, minted another 1 billion USDT tokens on the Tron blockchain on August 20, further enhancing the network’s liquidity.

The currency’s data from DefiLlama reveals considerable growth, and Tron has obtained a total revenue of $2. 700 million it attracted in the prior 24 hours, which was a doubling of $350 million. 6 million, which was reported the previous day. This avalanche indicates that the memecoin sector has become even more significant in the Tron ecosystem.However, the existence of the memecoins such as SunPump remains a contentious subject in the community. Some experts and academicians doubt their sustainability and effects on the market. On the other hand, supporters agree with them to the extent of suggesting that memecoins have the following functions within the sphere of cryptocurrencies.

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