Sun.pump, the TRON-based platform, caused a surge in non-stablecoin activity since its release on August 9. However, its metrics fell sharply a few weeks later, allowing Solana’s Pump.fun to regain the lead.
Sun.pump’s Surge in Activity
For much of 2024, nearly 98% of activity on the TRON network was attributed to stablecoins. However, since the release of Sun.pump on August 9, this has shifted dramatically. Sun.pump, a TRON-based platform allowing users to create community-centric memecoins, has triggered a surge in non-stablecoin activity. According to Crypto Quant, stablecoins account for only 75% of token transfers, down from 98% the previous month. Quote: "Throughout 2024 around 98% of the activity on the TRON network could be attributed to Stablecoins. This trend has had a major shift since the release of Sun.pump on August 9th." - CryptoQuant.com
Decline and Loss of Leadership
Despite this initial success, Sun.pump is now facing a sharp decline. Solana’s meme coin factory Pump.fun has regained a statistical lead over Sun.pump just two weeks after the TRON launchpad briefly surpassed it. On August 21, Sun.pump created 1,658 more tokens than Pump.fun in a 24-hour period. However, Dune data shows a steep fall, with Sun.pump creating only 1,258 tokens on Wednesday, marking an 83% drop from its 7,531-token peak. This decline extends to the number of daily active swappers on Sun.pump, which plummeted from 29,099 on August 21 to 6,816 on Wednesday—a 76.5% decrease. While Pump.fun hasn’t seen a surge in token creation, Sun.pump’s rapid decline has allowed the Solana platform to retake its lead.
Future of TRON and Sun.pump
With Sun.pump’s activity hitting lows unseen since its first week, TRON founder Justin Sun hinted at a new phase for the network, announcing that “celebrity season” is coming. Earlier this year, Solana’s Pump.fun hosted several celebrity meme coin launches, including tokens for Caitlyn Jenner and rapper Lil Pump. Meanwhile, TRON’s native token, TRX, had a bearish week, falling 7%, though its trading volume rose by 7%.
Despite setbacks for Sun.pump, the future of the TRON network remains uncertain. Upcoming initiatives and releases may rekindle interest among users and investors.
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