Tron Surpasses Solana as Top Meme Coin Trading Platform

The Tron network has recently emerged as the top platform for meme coin trading, overtaking Solana, thanks to the success of its new meme coin launchpad, Sunpump.

This development has shifted attention away from Solana’s previously dominant platform, Pump.fun.

On August 21 Sunpump outpaced Pump.fun in both daily revenue and transaction volume. According to Dune Analytics, Sunpump generated 3.65 million TRX (about $571,000), while Pump.fun brought in 2,575 SOL (around $368,000). Additionally, Sunpump saw more daily transactions, processing 7,531 compared to Pump.fun’s 6,941.

This shift signifies a major change in the meme coin trading landscape, with Tron now capturing much of the market share that Solana once held. The launch of Sunpump on August 13 by Tron’s founder, Justin Sun, appears to have been a strategic move to attract traders who were previously active on Solana.

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For some time, Solana had led the meme coin market, aided by the popularity of its Pump.fun launchpad, which made it easy for meme coins to launch and gain traction. However, as the market on Solana became overcrowded, traders began migrating to Tron’s Sunpump, seeking new opportunities.

This influx of activity on Sunpump has led to a notable increase in trading volume on Tron’s decentralized exchanges (DEX). Data from DeFiLlama shows a remarkable 558% rise in Tron’s DEX volume over the last week, while Solana’s DEX volume saw a decline of more than 24%.

These changes have also affected the value of both networks’ native tokens. Tron’s TRX has surged over 18% in the past week, according to CoinMarketCap, while Solana’s SOL has seen only a slight gain of less than 2%.

Alexander Stefanov