Original author: techflow

Reprinted by: Daisy, Mars Finance

The multi-level linkage mechanism has formed a close ecological cycle among SunPump, Huobi HTX and TRON, which not only strengthens their respective market positions but also brings greater development potential to the entire ecosystem.

In the current crypto market, mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) continue to show weakness and prices continue to fall. However, in an environment where the overall market sentiment is bearish, TRON (TRX) has recently shown a strong rebound momentum and has become one of the most outstanding assets among the top 100 cryptocurrencies.

One of the main reasons for the surge in TRX prices is the hot performance of Meme coins within its ecosystem, especially SUNDOG based on the TRON blockchain. The price of this Meme coin increased a thousand times in just a few days, and its market value soared from US$2 million to more than US$200 million, successfully attracting widespread attention from the market.

On the other hand, the linkage mechanism between the TRON ecosystem, the SunPump ecosystem and the Huobi HTX ecosystem achieves resource sharing and maximizes benefits through interactions at multiple levels. This multi-level linkage mechanism forms a close ecological cycle between SunPump, Huobi HTX and TRON, which not only strengthens their respective market positions, but also brings greater development potential to the entire ecosystem.

SunPump VS Pump.fun, TRON snatches food from Solana ecosystem

SunPump is TRON's first fair launch Meme coin platform, aiming to provide the market with a decentralized, transparent and fair Meme coin issuance platform. Its innovation lies in the fair launch mechanism, which ensures that all users can equally participate in the early investment of the project through smart contracts and on-chain verification. In addition, SunPump has also launched a 99% gas fee reduction campaign, which greatly reduces users' transaction costs and increases market participation.

The target of SunPump is Pump.fun in the Solana ecosystem. Pump.fun was launched in February 2024, and the number of users and usage began to soar in mid-March. In just half a year, it achieved the achievement of exceeding Ethereum's daily revenue many times. But now, Pump.fun in the Solana ecosystem has ushered in its strongest opponent.

After Justin Sun announced the launch of SunPump, SunPump's growth momentum has not stopped. The Meme coin SUNDOG, which was fairly launched from SunPump, has increased a thousand times since its launch and has been listed on exchange platforms such as Huobi HTX.

"Our team building the Meme coin infrastructure on the TRON network is very focused and has received great feedback from the community. Although I have great confidence in SunPump, I didn't expect that our transaction volume would reach 30% of Pump.Fun in just 10 days. Now, our goal is to surpass them." Justin Sun talked about the recent growth trend of SunPump in a live AMA and expressed his confidence in SunPump.

Blockchain researcher Adam Tehc noted in an Aug. 21 X post that both revenue and new token count on SunPump closed the day higher than similar metrics on Pump.fun.

* Data as of August 21

SunPump's user growth rate and transaction volume have shown strong growth momentum. Although Pump.fun still has an advantage in user base and market recognition, SunPump's rapid development shows that users are gradually turning to the TRON network. This is not only related to SunPump's advantages in transaction fees, speed, and community support, but also related to SunPump's support for the entire TRON ecosystem.

On August 21, SunPump received approximately 3.65 million TRX, equivalent to approximately $567,000, by issuing 7,531 Memecoins. This figure exceeded the 2,575 SOL revenues received by Pump.fun by issuing 6,941 tokens, valued at more than $368,000. SunPump recently surpassed Pump.fun in daily revenue, marking an important milestone in the Memecoin market.

On August 22, Justin Sun mentioned in a tweet that the SunPump transaction fee on the TRON network has been reduced to 0.76 TRX per transaction, with an average transaction fee of $0.118 per transaction. This is a very competitive rate, and other fee reduction plans will also be launched. He also mentioned that the TRON network will become the network with the most competitive transaction fee rate.

It can be seen that SunPump has soared against the trend with the help of TRON ecology, and has continuously divided the Meme market previously occupied by Solana ecology. Its strong platform advantages and innovation drive have not only attracted a large number of emerging projects and investors, but also further promoted the overall prosperity of TRON ecology.

TRON ecosystem develops strongly in Q2, a mobile meme craze feast

Messari data shows that TRON is one of the few smart contract platforms with increasing on-chain activities (transactions, active addresses, new addresses, etc.) in the second quarter. The average daily transaction volume increased by 29% month-on-month, from 4.8 million to 6.3 million. The transaction volume in June (202.6 million) was the highest among all months in 2024. The average daily active addresses increased by 31% month-on-month, from 1.5 million to 2 million.

In the second quarter, TRON remained the second-ranked network by TVL, and the top three protocols by TVL on TRON were JustLend, JustStables, and SUN.

In the first quarter, DEX activity on TRON reached its highest level in years due to the “Memecoin mania” and the bull market recovery. Basically, all DEX trading volume on TRON occurs on SUN.

In June 2023, SUN introduced a centralized liquidity (CL) AMM to its product suite (SunSwap V3). For the first time since the launch of SunSwap V3, the majority of trading volume on SUN was conducted through the V3 AMM in Q1 2024. This trend continued in Q2, with SunSwap V3 trading volume of $2 billion, accounting for approximately 67% ($2.4 billion) of all DEX trading volume on TRON in Q2.

On August 13, the Beta version of SunPump, a sub-product launched by SUN.io, a well-known DeFi platform on the TRON chain, was launched; on August 15, TRON and SunPump jointly launched a $10 million Meme ecological incentive plan.

As the first fair launch platform for Meme coins on TRON, SunPump not only fills the gap in the "one-click coin issuance" platform of the TRON ecosystem, but also hopes to leverage the unique advantages of the TRON ecosystem to set off a new round of Meme coin craze.

The widespread deployment of Memecoin has undoubtedly injected new vitality into the TRON ecosystem and become an important driving force for its continued growth.

According to data from the data analysis platform Dune, the number of token issuances on the SunPump platform has surged significantly in a short period of time. This phenomenon not only reflects the market's high enthusiasm for Memecoin, but also shows TRON's continued progress in technological innovation and user appeal.

* Data analysis platform Dune shows a recent surge in the number of tokens issued on SunPump

In addition, with the successful launch of SunPump, TRON's average daily revenue has continued to rise in the past few days, showing its stable and improved market position in the highly competitive crypto market. The successful deployment of Memecoin not only brought direct economic benefits to TRON, but also further consolidated its influence in the blockchain ecosystem. The figure below shows that TRON's recent protocol revenue has continued to increase.

* Tron's recent protocol revenue continues to increase

SunPump's multi-dimensional impact on TRX and HTX prices

The Memecoin craze in the TRON ecosystem is becoming an important driving force for the rise in TRX prices. According to data from IntoTheBlock, the number of transactions between $100 and $10,000 in the TRON DAO ecosystem has surged by 124%, and this surge is likely driven by the hype effect brought by SunPump.

TRX’s price has risen by more than 19% over the past 30 days, while Bitcoin (BTC) and Ethereum (ETH) have fallen by 11% and 26%, respectively, over the same period. In contrast, Solana (SOL), TRON’s competitor in the meme coin craze, has fallen by 17% over the same period.

During the launch of SunPump, Justin Sun, the founder of TRON, said on the X platform that he expected a large wave of meme coins on TRON to land on centralized exchanges, which could trigger FOMO sentiment in the market. SunPump not only drove up the price of TRX, but also had a positive impact on other products in the TRON ecosystem. For example, the transaction fees of SunPump and Sun.io were used to repurchase and destroy SUN tokens, and Sun.io's transaction volume increased nearly 20 times after SunPump went online.

At the same time, Sundog, as a prominent meme coin on SunPump, has further promoted the surge in the number of token issuances on the platform with its outstanding performance.

On August 18, there were less than 6,000 Meme coins on TRON, and according to Dune Analytics, that number has now jumped to 13,815. If this rally continues, liquidity in the Solana ecosystem may gradually shift to SunPump, further driving up demand for TRX.

In addition, the linkage mechanism between the SunPump ecosystem and Huobi HTX and TRON achieves resource sharing and maximizes benefits through multi-level interactions. First, transactions on the SunPump platform will charge a 1% handling fee, which is paid in the form of TRX and destroyed. This mechanism effectively reduces the circulation of TRX in the market, thereby driving up the price of TRX and driving the development of the entire TRON ecosystem.

* Recent TRON TVL growth

In conclusion:

In the cryptocurrency industry, the rise of Memecoin is often seen as a short-lived phenomenon, or even criticized as market-destructive. However, there are deeper factors behind Memecoin's success - community power and decentralized spirit.

Therefore, despite the many controversies faced by Memecoin, the community-driven logic and decentralized principles behind it may herald a new trend in the cryptocurrency industry. This trend not only represents a challenge to the traditional financial system, but also provides unique opportunities for a new generation of investors and developers.

In the future market, participants who can understand and embrace this new trend may occupy an advantageous position in this evolving industry. For assets such as TRX and HTX, their success depends not only on market hype, but also on whether they can continue to closely integrate with community forces to promote the long-term development of decentralization.