Tron Network Frenzy Continues as SunPump Counterpart Generates Over US$1M in Volume
- 王林Original
- 2024-08-26 15:46:23645browse
The memecoin frenzy on the Tron network is far from over as SunPump, the counterpart of Solana's PumpFun, has generated over US$1M in volume.
A memecoin frenzy has gripped the Tron network with the arrival of SunPump, a platform that facilitates the rapid launch of new coins, generating over US$1 million in volume on the first day.
One particular coin, Tronny (TRNY), was launched roughly six hours ago and has surged over 1900%. Another coin, BULL, caused quite a stir after its “fair launch”, as one user on X highlighted how the coin reached US$200 million (AU$295 million) in just one day, a 5,000% surge. Most of the comments were filled with criticism towards the coin, stating that insider trading is likely behind the surge.
“You and I both know this is probably 90-95% bundled and you are the dev again”, one user said.
Many other tokens generated insane returns in the past days (or hours), with one trader betting US$1,000 (AU$1,475) and receiving US$400,000 (AU$590,000) in returns. I know that’s enough to ruin your day, but keep in mind another user transformed US$1,690 (AU$2,492) into US$20 million (AU$29.5 million) in just six days.
The Tron network has seen a surge in activity with SunPump, reducing its transaction fees to a flat 0.76 TRX on Sunday, which is about 0.10 cents. This move and the platform’s growing popularity have impacted the Tron network positively, which recently hit a record US$3.48 million (AU$5.13 million) in daily revenue, its highest since launching in 2018.
Moreover, TRX surged over 3.4% in the day and 21% on the weekly chart, outperforming major tokens like Bitcoin and Ethereum. TRX’s 24-hour trading volume also soared 40%. Other Tron-based assets, such as BTT, SUN, and JST, have also seen significant gains.
Most DeFi projects on the Tron network have also witnessed a surge in total value locked (TVL). Overall, the Tron ecosystem is booming, and it seems memecoins are a significant force behind that trend.
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