thecoinrepublic.com
Tron’s new memecoin deployment platform, SunPump, has quickly risen to prominence, overtaking the once-dominant Pump.fun on Solana.
Launched just last week by Tron’s Justin Sun, SunPump is already making waves. The Tron-based platform on August 22 generated a daily revenue topping $571,000—leaving Pump.fun’s $368,000 far behind, as per LookonChain data.
The revenue of @sunpumpmeme on #TronNetwork surpassed @pumpdotfun yesterday!#SunPump revenue: 3,656,176 $TRX($571K).#PumpFun revenue: 2,575 $SOL($368K). pic.twitter.com/mpGqqIpXeB
— Lookonchain (@lookonchain) August 22, 2024
At its peak, Pump.fun was launching over 20,000 tokens daily and pulling in more than $2 million in revenue. But since SunPump came onto the scene, those numbers have taken a hit.
The memecoin community is flocking to Tron, driven by the success of tokens like Sundog (SUNDOG), which now boasts a market cap of $190 million—dwarfing Pump.fun’s top token, Michi (MICHI), with a $61 million market cap.
Why the Switch to SunPump?
So, why the sudden shift? For one, SunPump is delivering better results for traders. According to blockchain data, SunPump has a higher “graduation” rate, with 2.01% of launched tokens making it to Tron’s Sunswap exchange. Meanwhile, Pump.fun’s success rate for getting tokens onto Solana’s Raydium exchange lags behind at 1.26%.
Traders are noticing that SunPump is providing better opportunities. The sheer volume of tokens and the speed at which they’re gaining traction on Tron is drawing attention. It’s a classic case of crypto users following the money—and right now, the money is on SunPump.
Tron’s Big Win Over Solana
This surge in activity has done wonders for Tron’s blockchain. According to Defillama data, in just 24 hours, Tron saw 1.97 million active wallet addresses, easily surpassing Solana’s 1.05 million.
This influx of users has also driven Tron’s daily fees to a new record. Tron network set a new record for daily fees, pulling in $5.43 million over the last 24 hours as per DefiLlama data. In comparison, Solana generated $272,686 over the same period.
Prior to SunPump’s launch, Tron’s daily fees usually ranged between $1 million and $1.5 million, occasionally dipping below the million-dollar threshold.
Tron’s Justin Sun himself seems pretty pleased with how things are going. He took to Twitter on August 21, 2024, to declare, “It’s gonna stay strong.”