Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Sun Pump surges past Pump.fun in memecoin revenue

Sun Pump surges past Pump.fun in memecoin revenue

GrafaGrafa2024/08/23 01:55
By:Liezl Gambe

Sun Pump, a new memecoin deployer on the Tron (CRYPTO:TRX) network, has surpassed its Solana-based rival, Pump.fun, in both daily activity and revenue.

On August 21, blockchain researcher Adam highlighted that Sun Pump had outperformed Pump.fun.

According to data from Dune Analytics, Sun Pump launched 7,351 new tokens and generated $585,000 in revenue in the past 24 hours.

In comparison, Pump.fun saw the creation of 6,701 tokens and revenue of $366,000 over the same period.

This significant rise in activity comes just 12 days after Sun Pump’s launch on August 9.

Since its inception, Sun Pump has generated over $1.5 million in revenue and facilitated the launch of more than 25,000 new memecoins.

Several tokens launched on Sun Pump have achieved notable valuations.

For instance, a trader turned $1,000 into $750,000 with a token called SunWukong (CRYPTO:SUNWUKONG), and another token, SunDog (CRYPTO:SUNDOG), reached a valuation of $270 million.

The success of Sun Pump has positively impacted the Tron network, which recorded $3.48 million in revenue over the past 24 hours, matching the revenue of the previous day.

Tron has experienced two consecutive record days of revenue, according to DefiLlama data.

This influx of activity is supported by a $10 million boost from Justin Sun’s Meme Ecosystem Boost Incentive Program and the recent minting of 1 billion Tether (CRYPTO:USDT) tokens on the Tron blockchain.

Despite criticisms of memecoins as potentially harmful to the crypto industry, Justin Sun remains optimistic, attributing the success of memecoins to fair launches and strong community support.

Sun’s bullish stance reflects his belief in the potential of these speculative assets to drive community engagement and success.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!