TLDR:
SunPump, a new meme coin platform on Tron, has overtaken Solana’s Pump.fun in daily new token launches
SunPump generated $585,000 in revenue in 24 hours compared to Pump.fun’s $366,000
Tron’s network activity and fees have surged to record levels due to SunPump
SunPump has made $11 million in total revenue since launching 11 days ago
The platform’s success is backed by Justin Sun’s $10 million Meme Ecosystem Boost program
Tron’s newly launched platform, SunPump, has overtaken Solana’s established Pump.fun in daily token creation and revenue.
SunPump, introduced just 11 days ago by Tron founder Justin Sun, has quickly become a dominant force in the meme coin sector.
In the past 24 hours, SunPump facilitated the launch of 7,352 new tokens, surpassing Pump.fun’s 5,694.
.@justinsuntron's Sun Pump ends the day flipping Pump Fun in both issued tokens & 24-hour fees. pic.twitter.com/0pkELP1bHA
— Adam (@Adam_Tehc) August 22, 2024
This surge in activity has translated into substantial revenue, with SunPump generating $585,000 compared to Pump.fun’s $366,000 during the same period.
The rapid rise of SunPump has had a ripple effect on the entire Tron network. Tron has seen a significant increase in active wallet addresses, reaching 2.35 million in the past day, more than double Solana’s 967,000.
This influx of users has led to record-breaking fee revenue for the Tron network, which collected $3.84 million on a single day, far exceeding its typical range of $1 million to $1.5 million.
It's gonna stay strong. https://t.co/u9RlIGoTKd
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 21, 2024
SunPump’s success is not just about numbers. The platform has also demonstrated a higher “graduation” rate, with 1.98% of launched tokens being listed on Sunswap, Tron’s decentralized exchange, compared to Pump.fun’s 1.26% listing rate on Solana’s Raydium exchange.
The shift in momentum from Solana to Tron has caught the attention of traders and investors alike. It illustrates the fluid nature of the cryptocurrency market, where users can quickly migrate to new platforms that offer better opportunities or novel features.
Justin Sun has been actively promoting SunPump and the broader Tron ecosystem. His Meme Ecosystem Boost Incentive Program, which allocated $10 million to support the meme coin ecosystem on Tron, has played a crucial role in attracting liquidity and users to the network.
Since its launch, SunPump has generated an impressive $11 million in total revenue. This rapid growth has not been without challenges, as the platform briefly went offline due to high demand, requiring quick action from developers to restore service.
Some tokens launched on the platform have seen dramatic price swings, with one trader reportedly turning $1,000 into $750,000 with a token called SunWukong.
The post SunPump Overtakes Pump.fun: Tron’s (TRX) New Meme Coin Platform Takes the Lead appeared first on Blockonomi.
