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August 22, 2024SunPump Surpasses Pump.fun in Daily Activity, Boosting Tron Ecosystem
SunPump, the latest memecoin deployer on the Tron network, has recently outperformed its Solana-based predecessor, Pump.fun, in both daily activity and revenue. This milestone highlights the growing influence of SunPump within the memecoin landscape.
Impressive Metrics and Early Success
On August 21, blockchain researcher Adam reported that SunPump has achieved significant traction since its launch. According to data from Dune Analytics, SunPump created 7,351 new tokens and generated $585,000 in revenue over the past 24 hours. In contrast, Pump.fun saw 6,701 new tokens and earned $366,000 during the same period.
This surge in activity is noteworthy given that SunPump only launched on August 9, 2024. In just 12 days, the platform has already generated over $1.5 million in revenue and facilitated the launch of more than 25,000 new memecoins.
Among the new memecoins, SunWukong (SUNWUKONG) has particularly stood out. One trader turned a $1,000 investment into as much as $750,000 with this token. Another memecoin, SunDog (SUNDOG), reached valuations of up to $270 million. These successes underscore the speculative excitement and potential profits associated with SunPump.
Impact on the Tron Network
The rapid adoption of SunPump has had a substantial impact on the Tron network. Tron has recorded a remarkable $3.48 million in revenue over the last 24 hours, matching the previous day’s figure. This influx of activity is partly fueled by the Tron founder Justin Sun’s $10 million Meme Ecosystem Boost Incentive Program.
Additionally, stablecoin issuer Tether minted an extra 1 billion USDT tokens on the Tron blockchain on August 20, further contributing to the network’s growth and liquidity.
Despite criticism that memecoins may be detrimental to the crypto industry, Justin Sun has expressed optimism about their role. In an August 20 X post, Sun defended the memecoin phenomenon, stating:
“When every dev can build a community through a fair launch, gain everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of the cryptocurrency.”
SunPump’s rapid rise and its effect on the Tron network illustrate the dynamic nature of the memecoin market. While memecoins continue to face skepticism, their impact on blockchain ecosystems and their ability to generate significant revenue and activity cannot be overlooked. As the market evolves, platforms like SunPump are reshaping the landscape of digital assets and proving that speculative ventures can drive substantial growth.
