SunPump Fuels Tron's $3.84M Revenue Explosion, Flipping Pump.Fun in Daily Revenue

Tron Surpasses Ethereum and Solana in Daily Revenue

Tron’s blockchain recently outperformed Ethereum and Solana, achieving a record daily revenue of $3.84 million. This surge, driven largely by the SunPump memecoin generator, has been marked by an impressive doubling of revenue within 24 hours, according to data from DefiLlama. 

SunPump also surpassed its Solana-based rival PumpFun in daily revenue. Specifically, SunPump generated approximately $548,000 in revenue on Wednesday by creating 7,531 tokens. In contrast, PumpFun, operational since January, generated about $367,000 from 6,941 tokens on that day. 

SunPump, a memecoin deployer on the Tron network, mirrors Solana’s PumpFun, has solidified its place in the memecoin space. On August 21 alone, the platform recorded its highest revenue day, pulling in nearly 3.66 million TRX, roughly $526,000.

Since its inception, SunPump has launched over 26,087 memecoins on Tron, resulting in a substantial 10,570,624 TRX in revenue, valued at $1.628 million at current price. Despite a brief downtime on August 20 due to overwhelming traffic, the platform was swiftly restored within an hour. 

SunPump’s success has been fueled by a $10 million allocation from Justin Sun’s Meme Ecosystem Boost Incentive Program, which has significantly bolstered liquidity on the Tron blockchain. With a stablecoin supply of nearly $60 billion, mainly from Tether’s USDT, Tron commands 35% of the total market, securing its position as the second-largest stablecoin provider.

The hype surrounding Tron's memecoins is beginning to pay off for early investors, with one anonymous entity reportedly turning a $1,690 investment in SUNDOG into a staggering $20 million in just six days. 

A single whale investment of $450,000 also helped boost SUNDOG's price initially, contributing to an all-time high of $0.269 yesterday, with a current market cap of $212 million. 

Another anonymous trader on the Tron network turned $1,000 into over $750,000 by trading a memecoin named SunWukong. The trader initially purchased 43.8 million SunWukong tokens for $997. The token's value spiked after Tron founder Justin Sun changed his profile picture to Sun Wukong, coinciding with the launch of a popular Chinese folklore-based video game. 

At its peak, the token surged by 566,500%, though it has since dropped 58%. The trader hasn't sold any tokens yet although the investment has fallen from its high to $263,000, holding onto unrealized gains despite the price drop.

While debates continue over the value and longevity of memecoins, proponents like Justin Sun remain optimistic, emphasizing their role in the rapidly growing crypto sector.

On August 22, Justin Sun talked about the plan to lower TRON blockchain fees to stimulate daily transactions amid the SunPump craze, projecting $3-4 billion in revenue. He aimed to increase transaction volume to over 20 million daily within three months, potentially expanding market share. Sun also proposed raising the blockchain's energy cap to incentivize TRX staking for free transfers. 

Meanwhile, its direct rival Pump.Fun on Solana is set to exceed $100 million in total revenue within its first eight months since launch. Currently, its cumulative revenue stands at $95 million, up from $50 million just two months ago. The platform has facilitated the creation of 1,855,188 memecoins so far. Operating on a bonding curve model, Pump.Fun imposes a 1% transaction fee, accumulating substantial revenue from token creation and trading.