the new platform for the launch of memecoin on Tron

The most popular cryptographic protocol at the moment is definitely SunPump, a launchpad platform that facilitates the trading of memecoin on the Tron blockchain.

This is an application dedicated to the exchange of coins with very low market capitalization, which fully takes on the features of the twin “Pump.fun” on Solana

SunPump, powered by the presence and capital of billionaire Justin Sun, has reached today the record of 1 million dollars in revenue, increasing the utility of the Tron ecosystem.

In the meantime, the TRX token records a bull rally of 20% in just 2 days.

Let’s see all the details below

SunPump: the new Memecoin distribution platform on Tron inspired by Solana’s “Pump.fun”

On August 13, Justin Sun, founder of the Tron blockchain, introduced the memecoin launchpad platform “SunPump” to the market.

This particular application allows users to perform instant trading of memecoin by simplifying the research processes through the vast world of DEX in DeFi.

Through a simple and intuitive user interface, the traders of the Tron ecosystem can search for new low-cap coins and trade them quickly on the market.

The token developers are incentivized to launch their own memecoin on SunPump thanks to the simplicity with which they are minted and the advantages offered by the launchpad.

The protocol is inspired by Pump.fun, a platform very similar but developed within the Solana blockchain, which in a short time has attracted a large volume of trades.

In honor of its inauguration, TronDAO and Justin Sun have launched a Meme Ecosystem Boost incentive program worth 10 million dollars.

The money is dedicated to empowering the new tokens developed within the launchpad.

While on one hand SunPump creates a lot of engagement and interest from web3 users, on the other hand it worries experts in the cryptographic sector.

This trend that follows the successes of Pump.fun, based on the speculation of memecoin, creates destructive dynamics for the end user and for the community as a whole.

The data from the Solana network indeed shows how the majority of traders lose money from these trading platforms.

Over 1.7 million tokens have been launched via Pump.fun since its launch in January, with less than 1.5% of them ever reaching a total value exceeding 63,000 dollars.

Justin Sun, given obviously his own personal interest, is enthusiastic about the presence of an application like this that connects token creators and traders.

The protocol led by Justin Sun reaches 1.1 million dollars in revenue

To contextualize the initial success of the memecoin launch platform SunPump, we observe how the protocol built on Tron has generated over 1.1 million dollars in revenue in the first 11 days.

Since its launch on August 9 (with virtually no activity until August 12) it has generated fees of 7 million TRX tokens, the gas token of the Tron network

The peak of earnings was reached yesterday, when the platform of Justin Sun collected a whopping 400,000 dollars in a single day of trading.

Up to today, 19,700 tokens have been created, of which 371 are already listed on the decentralized exchange SunSwap.

Source:https://x.com/esatoshiclub/status/1826166599172174281/photo/1

The large wave of user traffic recorded in recent days has even created technical problems for the platform, so much so that the developers had to “restore the service”.

Justin Sun, in a post yesterday, mentioned that the defect was promptly resolved, with the interruption lasting for just an hour.

The large amount of on-chain activity has obviously brought benefits to the Tron chain as well, boosting transaction revenues.

In just 7 days the chain recorded a revenue record of 40 million dollars, even 10 times as much as what was done by Ethereum, according to TokenTerminal

In the last 24 hours, it has collected a whopping 3.84 million dollars, almost double compared to the previous day, according to the data from DefilLama

Source: https://tokenterminal.com/terminal/metrics/revenue?v=ZTllZjM1

To support user demand for the exchange of memecoin on SunPump, the stablecoin provider Tether minted yesterday 1 billion USDT on the Tron network.

The capital will likely be used to support purchases of TRX and low-cap tokens on the launchpad platform.

The TRX token of the Tron ecosystem soars in the market thanks to the popularity of SunPump

The grand debut of SunPump, which has pushed memecoin speculations to the maximum on the Tron network, has caused a strong positive impact on the price of TRX.

The protocol indeed presents a system of burning that incentivizes the growth of the token, limiting the selling pressure and adding a utility factor.

For every memecoin launched on SunPump, there is a marketcap level set at 69,420 dollars. When a coin attracts buyers and reaches this level on the bonding curve, the protocol performs a burn of 12,000 dollars of TRX, after depositing on Sunswap.

Source: https://sunpump.meme/home

TRX, risorsa centrale dell’ecosistema Tron, ha visto un price rally del 20% in appena 2 giorni, crescendo fino al livello attuale di 0,164 dollari.

Increase in revenue on the chain, incentivization with a burning system, and increase in popularity among traders, can only have caused the boom of the crypto.

The token is about to surpass the highest level reached with a spike in April 2021, in the middle of the previous bullrun.

Thanks to the latest bullish movement in the market, TRX has earned a place of honor in the top 10 of the most capitalized tokens on Coinmarketcap.

Cardano has exited the list, making way for the coin of a rapidly growing ecosystem, which is in line with the speculative trends of the moment.