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

Sunpump, 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 post to X, blockchain researcher Adam Tehc noted that revenue and the number of new tokens created on Sunpump had closed the day higher than the comparable metrics on pump.fun.

Source: Adam_Tehc

Citing Dune Analytics data , Tehc showed that 7,351 tokens had been launched on SunPump, and the platform had generated $585,000 in revenue in the last 24 hours. 

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

The recent surge in new activity comes just 12 days after the launch of the SunPump 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 SunPump memecoin deployer. Source: SunPump.meme

Several memecoins launched on SunPump have rallied to outsized valuations, with one trader briefly turning $1,000 into as much as $750,000 on a token called SunWukong. Other memecoins such as 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, per 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 been flowing 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 in Tether (USDT) 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 post to X. 

Magazine: Memecoins: Betrayal of crypto’s ideals… or its true purpose?