- Rapid Growth of Tron’s Revenue
- Memecoin Boom on SunPump Platform
- Increase in Liquidity and Tron’s Prospects
The Tron network has surpassed Ethereum in daily revenue, driven by a new memecoin boom via the SunPump launchpad.
Rapid Growth of Tron’s Revenue
According to DeFiLlama, the Tron blockchain generated over $3.8 million in 24-hour revenue. The chain reached a new all-time high in daily fees as speculators jumped on the memecoin meta, which stormed the TRX ecosystem.
Memecoin Boom on SunPump Platform
Tron’s memecoin craze began less than two weeks ago when SunPump debuted on August 9 as the first TRX-based meme fair launch platform. Early days saw modest activity, as developers created 200-300 tokens daily and traded primarily on the decentralized exchange Sunswap. Interest in SunPump skyrocketed by August 20, with over 6,000 memecoins issued in a single day. A Dune Analytics dashboard by Venture Capital firm Hashed noted at least 20,504 TRX-based memecoins as of August 21. The most successful launch, Sundog, peaked at a $260 million market cap.
Increase in Liquidity and Tron’s Prospects
Due to sufficient liquidity, Tron may be positioned to jockey Solana as the memecoin hotbed. Stablecoin issuers like Tether and Circle keep minting new tokens on TRX’s chain and other networks. Bitget chief analyst Ryan Lee noted that 19 million of the 33 million USDT minted by Tether in the past 12 months were issued on Tron. Lee added that 84% of Tether’s 10.9 million monthly active users operate on Tron, positioning Sun’s blockchain for more memecoin trading in the coming weeks and months.
The Tron network continues to gain traction thanks to the new memecoin boom and high liquidity. It may become a significant player in the decentralized finance market, offering users attractive conditions for trading and investment in the near future.
