According to Cointelegraph, Sun Pump, a new memecoin deployer on the Tron network, has overtaken its Solana-based predecessor, Pump.fun, in terms of daily activity and revenue. On August 21, blockchain researcher Adam highlighted that Sun Pump had outperformed Pump.fun in both revenue and the number of new tokens created.
Citing Dune Analytics data, Adam reported that 7,351 tokens were launched on Sun Pump, generating $585,000 in revenue within the previous 24 hours. In comparison, Pump.fun saw the creation of 6,701 new tokens, resulting in $366,000 in revenue during the same period.
The surge in activity on Sun Pump comes just 12 days after its launch on August 9. Since its inception, the platform has generated over $1.5 million in revenue and facilitated the launch of more than 25,000 new memecoins. Several memecoins on Sun Pump have achieved significant valuations, with one trader turning $1,000 into $750,000 on a token called SunWukong (SUNWUKONG). Other tokens like SunDog (SUNDOG) have reached valuations as high as $270 million.
The popularity of Sun Pump has positively impacted the Tron network, which recorded $3.48 million in revenue over the last 24 hours, matching the revenue from the previous day, according to DefiLlama data. This marks two consecutive record revenue days for Tron.
The influx of liquidity into the Tron ecosystem has been supported by a $10 million boost from Tron founder Justin Sun’s Meme Ecosystem Boost Incentive Program. Additionally, stablecoin issuer Tether minted an extra 1 billion Tether (USDT) tokens on the Tron blockchain on August 20.
Despite criticism that memecoins are detrimental to the crypto industry, Justin Sun remains optimistic about their potential. He believes that the success of memecoins is not coincidental but a result of community-driven efforts. In an August 20 post, Sun emphasized that when developers can build a community through fair launches, gain support, and foster enthusiasm and loyalty, the community can share in the cryptocurrency's success.
