By Key Points
- Tron overtakes Solana as the top meme coin trading platform.
- Sunpump generates $571,000 daily, outpacing Solana’s Pump. fun.
- Tron’s DEX volume jumps 558%, while Solana’s drops by 24%.
- TRX price rises 18%, leaving SOL’s 2% gain behind.
Tron has overtaken Solana as the new leader in the meme coin market. This major shift comes as Tron’s meme coin launchpad, Sunpump, has quickly overshadowed Solana’s Pump. fun.
According to data from Lookonchain, Sunpump generated $571,000 in daily revenue on August 21, significantly more than the $368,000 earned by Pump. fun.
Tron’s Sunpump also surpassed Pump. fun in daily transactions, with 7,531 transactions compared to Pump. fun’s 6,941. This surge in activity marks a significant turning point, as Tron overtakes Solana in a market that the latter had previously dominated.
The launch of Sunpump on August 13 by Tron’s founder, Justin Sun, appears to have been a calculated move to capture a larger share of the meme coin market.
While Solana had enjoyed dominance due to its accessible meme coin launchpad, the market saturation led traders to seek alternatives. Tron’s Sunpump provided the perfect platform, allowing Tron to overtake Solana and attract a growing number of meme coin traders.
@justinsuntron let me tell you why Tron will never overtake @solana
1. Its fees are on avg 7x higher on bullx for an example .33 cents for a buy or sell on Solana vs 9 TRX in tron ($1.35) on Tron. Sending and receiving is the same.
2. Swap fees are just as ridiculous
3.… pic.twitter.com/na2IpvpkTj
— PRIMAL (@Solid_Primal) August 30, 2024
Tron Overtakes Solana, Drives DEX Volume and TRX Price Up
The influx of meme coin traders to Tron’s Sunpump has significantly increased Tron’s decentralized exchange (DEX) volume.
Data from DeFiLlama shows that Tron’s DEX volume surged by over 558% in the last seven days. Meanwhile, Solana’s DEX volume dropped by over 24%, emphasizing how Tron has overtaken Solana in this space.
This shift has also had a notable impact on the native tokens of both networks. Tron’s TRX token has seen a remarkable 18% increase over the last week, compared to a modest under 2% gain for Solana’s SOL token.
The revenue of @sunpumpmeme on #TronNetwork surpassed @pumpdotfun yesterday!#SunPump revenue: 3,656,176 $TRX($571K).#PumpFun revenue: 2,575 $SOL($368K). pic.twitter.com/mpGqqIpXeB
— Lookonchain (@lookonchain) August 22, 2024
As Tron overtakes Solana, this growth in TRX’s value underscores the growing confidence in Tron’s potential among traders.
Justin Sun, the mastermind behind Tron’s recent success, has hinted at even more developments. In recent posts on X (formerly Twitter), Sun teased that the network’s recent achievements are just the beginning.
With promises of more upgrades and major announcements in the coming weeks, it’s clear that Tron’s momentum is far from over.
Among the upgrades already implemented is a reduction in transaction fees, making Tron even more competitive with low-cost networks like Solana.
As Tron overtakes Solana, the network is positioning itself as the preferred choice for meme coin traders, setting the stage for continued dominance in this rapidly evolving market.
