Tron surpasses Ethereum and Solana in daily revenue with SunPump craze Tron surpasses Ethereum and Solana in daily revenue with SunPump craze
SunPump memecoin deployer energizes Tron's market lead over rivals.
2 min read
Updated: Aug. 21, 2024 at 3:08 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Justin Sun‘s Tron blockchain’s daily revenue reached a new all-time high of $3.84 million, driven by the memecoin generator SunPump.
This milestone places Tron ahead of established networks like Ethereum and Solana, which reported $1.36 million and $541,000 in daily revenue, respectively.
SunPump is driving Tron’s revenue
Market observers have linked Tron’s fee surge to the recent launch of the SunPump memecoin deployer on the network.
The memecoin deployer, similar to Solana’s PumpFun, allows users to create and launch their memecoins on the Tron network. Since its launch, SunPump has generated over 8.4 million TRX in revenue, valued at approximately $1.39 million, according to data from Dune Analytics.
Notably, the platform saw its highest revenue on Aug. 20, earning 2.78 million TRX, worth around $400,000. This peak also coincided with the launch of over 6,000 memecoins, contributing to roughly 20,883 memecoins launched to date.
SunPump’s success can be linked to Sun’s aggressive promotion and efforts to position Tron as a leader in the memecoin space.
The crypto entrepreneur emphasized that Tron’s robust stablecoin liquidity, primarily driven by Tether’s USDT, is a crucial advantage over other networks. He said:
“On other blockchains, a few hundred million in stablecoins can pop out billion-dollar meme coins. Tronโs got $60 billion+, so we could see dozens of billion-dollar meme coins. Sounds wild, but numbers donโt lie. Donโt fight the data.”
DeFillama data shows that Tron has the second-largest stablecoin supply of nearly $60 billion, which accounts for 35% of the total market.
Early investors gain
Meanwhile, blockchain data shows that early investors in some of the memecoins on the Tron blockchain are beginning to make substantial profits from the hype in the sector.
Blockchain analytical firm Arkham Intelligence reported that one trader gained $20 million in unrealized profits within six days of purchasing 104.33 million SUNDOG tokens for $1,690. The trader has sold $1.08 million worth of SUNDOG but still holds tokens valued at $19.52 million across seven addresses.
Further, CryptoSlate’s top gainers list for Aug. 21 shows that SUNDOG and its variations rank among the top-performing digital assets during the last 24 hours.
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Editor Editor 
Liam 'Akiba' Wright
Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
Latest Ethereum Stories
In this article
TRON is one of the largest blockchain-based operating systems.
Ethereum
$2,341.96
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$134.253
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Tether
$0.99999
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
Arkham Intelligence
Arkham Intelligence is a platform that provides information on the real-world entities behind addresses on the blockchain.
Tether Limited
Tether Limited is the company that introduced Tether (USDโฎ or USDT), an asset-backed cryptocurrency stablecoin, in 2014.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
