The Tron network continues to benefit from the SunPump launch, seeing transaction and revenue boosts.
Transactions on the Tron Network have seen a significant nudge amidst the hype around SunPump, a memecoin creation tool based on the blockchain. Data from IntoTheBlock shows that transactions worth between $100 and $10,000 have grown by 124%.
Per the data, the uptrend resumed on Tuesday, two days after the Aug. 13 SunPump Beta launch. On Saturday, transactions between $100 and $1,000 crossed $100 million, while transactions between $1,000 and $10,000 moved past $50 million.
Recently, the Tron network hit a yearly high in the number of transactions settled. Amid the network’s affordable fees, users have scrambled to launch memecoins. These factors have been major catalysts for the increased adoption.
The SumPump Craze Continues
Similar to the scenario seen from Pump.fun in the Solana network, Tron’s SunPump has seen massive user adoption, boosting the network’s daily usage. This is observed in the spike in transactions between $100 and $10,000.
Since SunPump launched, over 12,200 new tokens have been deployed on the Tron network. Creators launched the highest number of memecoins yet on August 19, with about 4,450 tokens created on the day. At press time on Tuesday, users had made about 700 tokens, more than what was created each day between August 13 and 15.
This unusual user influx has seen SunPump generate substantial token launch revenue. Data from Dune showed that the platform has yielded 4,234,066 TRX ($609,706) in launch revenue. Launch activities on Monday alone brought in 1,450,925 TRX ($208,933), about 34% of the total revenue.
Tron Flips Cardano
Meanwhile, TRX’s price has seen a significant boost from the increased on-chain activity, growing over 14% in the past seven days. This boost has seen it overtake Cardano’s native token, ADA, in the market cap ranking.
With a market cap of $12.5 billion, Tron entered the top 10 largest crypto assets, switching eleventh place with ADA. TRON has grown 6.5% in the past 24 hours, changing hands for $0.144 at press time.
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Source: https://thecryptobasic.com/2024/08/20/sunpump-creation-triggers-124-tron-transaction-surge/?utm_source=rss&utm_medium=rss&utm_campaign=sunpump-creation-triggers-124-tron-transaction-surge