Recent data shows that the Tron network has overtaken Solana as the leading platform for meme coin trading. This feat follows Tron’s meme coin launchpad, Sunpump, which has overshadowed Solana’s Pump.fun.
Sunpump Surpasses Pump.fun In Daily Revenue
Onchain analytics platform Lookonchain revealed in an X (formerly Twitter) post that Sunpump surpassed Pump.fun in daily revenue on August 21. The platform shared data from Dune Analytics, which showed that Sunpump generated 3.65 million TRX ($571,000) while Pumpfun.fun made 2,575 SOL ($368,000) on that day.
Sunpump also surpassed Pump.fun in the number of daily transactions recorded on that, with the former processing 7,531 transactions while Pump.fun processed 6,941 transactions. This development highlights how Tron has stolen a huge chunk of the meme coin market, which Solana largely dominated before now.
This was likely what Tron’s Founder, Justin Sun, aimed to achieve when he announced Sunpump’s launch on August 13. Before now, Solana had dominated the meme coin market partly thanks to the Pump.fun meme coin launchpad, which made it easier for meme coins to be deployed on the network and instantly attracted meme coin traders. However, Solana’s meme coin market has saturated, and Sunpump’s launch provided an alternative for these traders.
Meanwhile, these meme coin traders’ migration to Sunpump has led to a significant surge in Tron’s decentralized exchange (DEX) volume. Data from DeFiLlama shows that Tron’s DEX volume has been up over 558% in the last seven days. At the same time, Solana’s DEX volume has dropped by over 24%.
This development has consequently impacted the prices of the native tokens of both chains. Data from CoinMarketCap shows that Tron (TRX) has increased by over 18% in the last seven days. Meanwhile, Solana’s (SOL) price has recorded a meager price gain of under 2% during this period.
More To Come From Tron
Justin Sun has continued to tease that Tron’s success this past week is just the tip of the iceberg for what is set to come for the network and its ecosystem. In a recent X post, he stated that “everything is just getting started” and that the recent storm was just a “warm-up.” He added that this weekend will be “unbelievable” and advised market participants to prepare for it.
In another X post, he told the crypto community to expect many announcements from him in the coming weeks. Sun has already revealed some upgrades that have been made to Tron to accommodate the influx of meme coin trades that have flocked the network recently. One is the reduction of transaction fees on the network to make it more competitive and on par with the fees on cheaper networks like Solana.
Cover image from Dall-e, chart from Tradingview