Bitrabo Editorial
Recent data indicates that Tron has emerged as the top platform for trading meme coins, surpassing Solana. Tron’s success in this area can be attributed to the Sunpump meme coin launchpad, overshadowing Solana’s Pump.fun.
Sunpump Leads in Daily Revenue
According to Lookonchain, Sunpump outperformed Pump.fun in daily revenue on August 21. Data from Dune Analytics showed that Sunpump generated 3.65 million TRX ($571,000) compared to Pumpfun.fun’s 2,575 SOL ($368,000) on the same day.
Sunpump also surpassed Pump.fun in daily transactions, processing 7,531 transactions versus Pump.fun’s 6,941 transactions. Tron’s dominance in the meme coin market has been evident as it captured a significant portion that was previously dominated by Solana.
Justin Sun, Tron’s Founder, strategically launched Sunpump on August 13, aiming to attract meme coin traders who were primarily on Solana due to Pump.fun’s influence. The saturation of Solana’s meme coin market made way for Sunpump to offer an alternative platform for meme coin trading.
The migration of meme coin traders to Sunpump has resulted in a notable surge in Tron’s decentralized exchange (DEX) volume, with a remarkable increase of over 558% in the last seven days, while Solana’s DEX volume dropped by over 24% during the same period.
Consequently, the native tokens of both chains have been affected, with Tron (TRX) witnessing an 18% increase in price over the past week, whereas Solana’s (SOL) price has seen a modest gain of under 2% during the same period.
Tron’s Future Prospects
Justin Sun hinted at more success to come for Tron and its ecosystem, suggesting that the recent achievements are just the beginning. He teased upcoming developments in a recent statement, indicating that the network is gearing up for significant advancements. Sun advised market participants to prepare for exciting times ahead.
Sun further promised a series of announcements in the near future, unveiling recent upgrades made to Tron to cater to the influx of meme coin traders on the network. One notable update includes a reduction in transaction fees to enhance competitiveness, aligning them with fees on other networks like Solana.