TRON’s SunPump generated $1 million in revenue.
Solana’s success came after Pump.fun.
SunPump caused a surge in TRON trading volume.
The Mimecoin market is growing rapidly, driven in part by platforms like Solana’s Pump.fun, which make it easier than ever to launch Mimecoins. This has led to a number of Solana Mimecoins, including many celebrity Mimecoins, being introduced to the Solana blockchain.
Recently, Justin Sun’s TRON has jumped on this trend. Since the launch of SunPump, the platform has grown at a record pace, with network activity increasing significantly.
TRON’s SunPump Rides the Memecoin Fever
TRON’s decision to copy Solana appears to be paying off. On Thursday, August 22, TRON’s SunPump platform generated over $1 million in revenue in just nine days after its launch. The platform generated over 7,300 tokens in just 24 hours, showing strong engagement.
The launch of SunPump has had a significant impact on TRON’s overall network activity. After the platform was launched, TRON’s network revenue increased significantly, reaching $3.84 million within a few days of launch.
SunPump’s early success seems to have come from TRON’s established infrastructure and low transaction costs. The network also has a strong presence in the Asian market, one of the strongest regions for cryptocurrency adoption.
Solana Trading Volume Increases Due to Memecoin Fever
This launch comes at a time when the Mimecoin market is booming, driven by platforms like Solana’s Pump.fun, which have made it easier than ever to launch Mimecoins. This has led to the emergence of a whole new Mimecoin ecosystem, including a celebrity Mimecoin segment.
Celebrities like Iggy Azalea and Caitlyn Jenner have launched their own tokens on Solana, and they have attracted a lot of initial interest due to their large followings. However, these tokens tend to depreciate rapidly, and many have suffered from pump and dump scams. The average market cap of these celebrity tokens has fallen by a whopping 94% in just one month since launch.
On the other side
- SunPump and Pump.fun both operate in the highly volatile Mimecoin market, where most tokens are either very short-lived or not launched at all.
- Most Solana Celebrity Tokens Lost most of its value Just one month after its launch.
Why this matters
The rise of SunPump on the TRON network shows that the memecoin craze is far from over. However, it also highlights the risks associated with memecoin trading, including those supported by prominent figures.
Learn more about the risks of Mimecoin:
All Solana Celebrity Cryptocurrencies Are Down Hugely. Here’s Why
Learn more about Binance’s expansion plans.
Binance Pledges to Hire 1,000 People: A Sign of Better Times to Come?