Sun rises: Tron’s new memecoin deployer flips Pump.fun

Tom Mitchelhill3 hours agoSun rises: Tron’s new memecoin deployer flips Pump.funTron’s new memecoin deployer, Sun Pump, has just overtaken its rival, generating 59% more revenue than Pump.fun in the last 24 hours. 1698 Total views47 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onSun Pump, a new memecoin deployer on the Tron network, has just flipped its Solana-based predecessor, Pump.fun, in daily activity and revenue.

In an Aug. 21 X post, blockchain researcher Adam noted that revenue and the number of new tokens created on Sun Pump had closed the day higher than the comparable metrics on Pump.fun.Source:Adam

Citing Dune Analytics data, Adam showed that 7,351 tokens had been launched on Sun Pump, and the platform had generated $585,000 in revenue in the previous 24 hours. 

Meanwhile, Pump.fun saw only 6,701 new tokens created, generating $366,000 in revenue within the same timeframe. 

The recent surge in new activity comes just 12 days after the launch of the Sun Pump platform on Aug. 9. The protocol has already generated over $1.5 million in revenue and seen more than 25,000 new memecoins launched since its inception.Front page of the Sun Pump memecoin deployer. Source: Sun Pump

Several memecoins launched on Sun Pump have rallied to outsized valuations, with one trader briefly turning $1,000 into as much as $750,000 on a token called SunWukong (SUNWUKONG). Other memecoins such as SunDog (SUNDOG) have rallied to valuations as high as $270 million.

The popularity of the memecoin deployer has been a boon for the Tron network, with Tron generating a record $3.48 million in revenue over the last 24 hours, an identical figure to the $3.48 million revenue it notched the day before, according to DefiLlama data.Tron has seen two record days of revenue in the last 48 hours. Source: DefiLlama

Related:Trader turns $1K into $750K trading Tron memecoin SunWukong

Alongside the new memecoin deployer, liquidity has flowed into the Tron ecosystem, mainly aided by a $10 million boost from Tron founder Justin Sun’s Meme Ecosystem Boost Incentive Program. 

Stablecoin issuer Tether also minted an additional 1 billion of its Tether (USDT) tokens on the Tron blockchain on Aug. 20.

While many critics have lashed memecoins for being “destructive” to the crypto industry, Sun has maintained a bullish stance on the speculative assets, saying that the success of the memecoins “isn’t by chance.”

“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,” Sun wrote In an Aug. 20 X post. 

Magazine:Memecoins: Betrayal of crypto’s ideals… or its true purpose?# Blockchain# Altcoin# Adoption# Tron# Justin Sun# Solana# MemecoinAdd reaction