SunPump, a new memecoin platform launched last week by Justin Sun on the Tron blockchain, has quickly risen to prominence, overtaking market leader Pump.fun on the Solana blockchain.
Community Reaction
On August 22, 2024, SunPump's daily revenue reached $571,000, significantly surpassing Pump.fun's $368,000, according to LookonChain data. At its peak, Pump.fun was launching over 20,000 tokens daily and generating more than $2 million in revenue, but those numbers have taken a hit with the arrival of SunPump.
Reasons for SunPump's Success
One of the main reasons for the community shift is SunPump's higher 'graduation' rate. According to data on Dune, 2.01% of tokens launched on SunPump make it to the Sunswap exchange, while Pump.fun holds a 1.26% success rate for getting tokens onto Solana's Raydium exchange.
Impact on Tron and Solana
The influx of users has positively affected the Tron blockchain. Over 24 hours, Tron saw 1.97 million active wallet addresses, surpassing Solana's 1.05 million. This also drove Tron's daily fees to a new high of $5.43 million, compared to Solana's $272,686. Before SunPump's launch, Tron's daily fees ranged between $1 million and $1.5 million.
The launch of Tron’s SunPump platform has significantly impacted the crypto industry, attracting users and increasing activity. The advantage in revenue and the success of new projects demonstrate the strength of the new platform compared to the former market leader, Pump.fun.
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