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The Tron blockchain has reduced gas fees on SunPump by 50%, with Justin Sun encouraging users to take advantage of the platform’s low transaction costs. The controversial crypto executive hinted at further developments aimed at boosting daily transactions and increasing market share.
SunPump has quickly gained attention, offering a platform for token generation that is beginning to overshadow Solana’s Pump.fun.
Tron Reduces Gas Fees By 50%on SunPump
Justin Sun shared the news in a Tuesday announcement, following up on a commitment he made last week to lower fees and raise the energy cap without affecting profitability. As of August 22, the transaction fee for SunPump on the TRON network was 0.76 TRX per transaction, with an average cost of 0.118 USD per transaction. The 50% reduction in gas fees now makes SunPump’s transaction fees highly competitive.
“We have just reduced the gas fee for SunPump trading on Tron by 50%, happy trading! If you thought, the transaction fees were too high before, it is time to come back! We will continue to work on reducing the fees for trading meme tokens on Tron,” Sun shared.
The news follows closely on the heels of the Tron blockchain raising its energy cap to 120 billion, a strategic move approved by the community to attract more TRX token stakers. These developments align with Justin Sun’s ambitious plan to reach over 20 million daily transactions within the next three months.
Read more: What Is TRON (TRX) and How Does It Work?
Justin Sun promotes SunPump as “the kingdom of memes,” tapping into the latest trend of Tron meme coins. According to CoinGecko data, Tron meme coins have a market capitalization of over $362 million. Sundog (SUNDOG), Dragon Sun (DRGN), and SunWukong (SUNWUKONG) are the top three Tron meme coins by market capitalization.
This growth has put Tron’s SunPump in the spotlight, positioning it as a competitor to Solana’s Pump.fun. Sun suggests that this competition could ultimately lead to a better user experience.
“I love competition. Competition enhances user experience, provides better services, and delivers better outcomes for everyone. Let’s compete and create something great,” Sun wrote.
The Tron executive expressed confidence in the sustainability of the current hype, attributing it to TRON’s competitive advantages. These advantages include a deep liquidity pool exceeding $60 billion and a quickly expanding user base.
With TRON’s extensive liquidity, Sun anticipates that developers and traders will increasingly invest in new and promising meme coins on the platform. The recent adjustments to fees and energy caps are expected to further boost TRON’s appeal. According to Dune Analytics, nearly 52,000 tokens have been created on TRON’s SunPump platform — a more than 50% increase since August 22.
Read more: What Are Meme Coins?
Even as SunPump ascends the ranks, traders continue to exercise caution, especially because of the involvement of Sun. His controversial reputation following several interactions with projects has some users constantly biting their fingers.
“Chinese crypto chat channels continue to warn about Justin Sun rug pulling them. This isn’t shocking for anyone who has paid attention to HUSD, USDD, TRX, or any other crap associated with His Little Princess,” one user shared on X.
Furthermore, experts also question SunPump’s capacity to dethrone Solana’s Pump.fun given the latter’s longevity in the market so far. Pump.fun has also seen a lot more projects launched on its platform because of its age in the market.
“While touted as a pump.fun competitor, SunPump still falls well short of Pump.fun’s activity. Since launching on August 9, SunPump has facilitated the launch of over 46,000 tokens, 77% less than Pump.fun’s 193,000 launches in the same time frame,” analysts say.