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22/08/24
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Sunpump Surpasses Solana’s Pump.fun, Driving Memecoin Mania on Tron Network
Sunpump, a newly launched memecoin platform on the Tron Network, has recently surpassed the daily activity and revenue of its Solana counterpart, Pump.fun. This shift highlights the growing interest in Sunpump, particularly since its introduction on August 9. Notably, the platform reported over 7,351 new token launches and generated approximately $585,000 in revenue within a single day, according to blockchain analytics data. In contrast, Pump.fun logged 6,701 new tokens and $366,000 in revenue during the same period.
The swift growth of Sunpump is significant, with the platform amassing over $1.5 million in revenue and facilitating more than 25,000 new memecoins since its inception. Some individual memecoins have experienced remarkable price increases; for instance, one trader reportedly transformed an investment of $1,000 into a staggering $750,000 with the token SunWukong. Another memecoin, SunDog, reached impressive valuations of around $270 million.
The emergence of Sunpump has contributed positively to the Tron network’s performance, which recently recorded $3.48 million in daily revenue, matching the figure from the previous day. In addition to this uptick, liquidity influx into the Tron ecosystem was amplified by a recent $10 million incentive program launched by Tron founder Justin Sun aimed at supporting meme-based initiatives. On August 20, Tether also expanded its presence on the Tron blockchain by minting an additional 1 billion USDT.
Despite the criticisms surrounding memecoins and their perceived negative impact on the cryptocurrency landscape, Justin Sun remains optimistic about their potential. He emphasizes that the success of these assets arises from collective community efforts and fair launches, which can lead to shared prosperity among participants in the cryptocurrency space.
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