Recent data shows that the Red Tron has surpassed Solarium as the leading platform for trading meme coins. This feat follows in the wake of Tron’s meme coin launch, Sunpump, which has eclipsed Solana.fun bomb.
Sunpump surpasses Pump.fun in daily revenue
Lookonchain on-chain analytics platform Revealed on an X (formerly Twitter) mail that Sunpump surpassed Pump.fun in daily revenue on August 21. The platform shared data from Dune analysiswhich showed that Sunpump generated 3.65 million TRX ($571,000) while Pumpfun.fun earned 2,575 SOL ($368,000) that day.
Sunpump also surpassed Pump.fun in the number of daily transactions The former was recorded to have processed 7531 transactions, while Pump.fun processed 6941. This development highlights how Tron has stolen a huge chunk of the meme coin market, which Solana largely dominated until now.
This was probably what Tron founder Justin Sunset out to achieve when it announced the launch of Sunpump on August 13. Until now, Solana had dominated the meme coin market in part thanks to the meme coin launchpad Pump.fun, which made it easy to deploy meme coins on the network and instantly attracted Meme Coin TradersHowever, the Solana meme coin market has become saturated and the launch of Sunpump provided an alternative for these traders.
Meanwhile, the migration of these meme coin traders to Sunpump has led to a significant increase in the volume of Tron’s decentralized exchange (DEX). Data DeFiLlama shows that Tron’s DEX volume has increased by over 558% in the past seven days. At the same time, Solana DEX Volume has abandonment by more than 24%.
This development has consequently impacted the prices of the native tokens of both chains. Data from CoinMarketCap shows that Tron (TRX) has surged by over 18% over the past seven days. Meanwhile, Solana (SOL) price has recorded a meager price gain of less than 2% during this period.
More Tron news
Justin Sun He kept joking about it The success of Tron Last week is just the tip of the iceberg of what is to come for the network and its ecosystem. In a recent Publication XHe said that “everything is just getting started” and that the recent storm was just a “warm-up.” He added that this weekend will be “amazing” and advised market participants to prepare for it.
In another Publication Xtold the crypto community to expect plenty of announcements from him in the coming weeks. Sun has already revealed Some updates that have been made to Tron to accommodate the influx of meme coin exchanges that have come to the network recently. One is the reduction of transaction fees on the network to make it more competitive and on par with the rates in cheaper networks like Solana.
Cover image by Dall-e, chart by Tradingview
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