Tron’s SunPump Memecoin Generator Hits $1 Million in Revenue Just 11 Days After Deployment
The post Tron’s SunPump Memecoin Generator Hits $1 Million in Revenue Just 11 Days After Deployment appeared on BitcoinEthereumNews.com.
SunPump crossed $1 million in revenue in 11 days since launch. The Tron blockchain is also recording massive revenues due to SunPump’s popularity. The recently launched Tron-based and Justin Sun-backed memecoin generator SunPump accrued revenues of over $1 million, or 7 million Tron (TRX), on August 20 in just 11 days from its August 9 launch. As it achieved that milestone, August 20 also saw it reach others, like recording the highest single-day revenue. It collected 2.78 TRX worth about $400,000 as revenues. Users also created over 6,000 memecoins on the same day. This level of engagement could have been unexpected by SunPump’s team, as it went down due to the tremendous traffic. Sun addressed this on X, “@sunpumpmeme is experiencing unprecedented traffic. We are urgently scaling up, and the overall experience will be fully restored in 15 minutes. Thank you for your understanding!” He followed up about an hour later to add that the platform’s services were restored. While a lot of the funds entering the project are organic, Sun and Tron-launched Meme Ecosystem Boost Incentive Program, offering $10 million to selected projects, is also increasing the fund flows. This tremendous liquidity is also benefitting the larger Tron blockchain ecosystem. It collected revenues of $3.84 million in the last 24 hours from the time of writing. Such massive numbers are, without a doubt, partially impacted by SunPump. Source: DeFiLlama Memecoins Still Arouse Doubt in Many As the memecoin generator has grown to become a fixture in the Tron ecosystem, many are not enthusiastic about memecoins in general. They feel the tokens are unreliable as more projects than not end with the same pump-and-dump story. In fact, reports have highlighted how traders interacting with tokens on competitor Solana-based Pump Fun lose more money than they make. On the contrary,…
Filed under: News - @ August 22, 2024 6:27 am