Report | Amid Crypto Market Downturn, SunPump Rides TRON Ecosystem to Countertrend Surge: What's Driving It?
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Report | Amid Crypto Market Downturn, SunPump Rides TRON Ecosystem to Countertrend Surge: What's Driving It?
A multi-layered linkage mechanism has created a tight ecosystem loop among SunPump, Huobi HTX, and TRON, reinforcing each party's market position while bringing greater growth potential to the entire ecosystem.
Navigating Web3 tides with focused insightsIn the current crypto market, mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) continue to show weakness, with prices trending downward. However, amid an overall bearish market sentiment, TRON (TRX) has recently demonstrated strong rebound momentum, emerging as one of the top-performing assets among the top 100 cryptocurrencies.
One of the main reasons behind TRX's price surge is the explosive performance of meme coins within its ecosystem, particularly SUNDOG based on the TRON blockchain. This meme coin saw its price increase a thousandfold in just a few days, with market capitalization skyrocketing from $2 million to over $200 million, successfully capturing widespread market attention.
On the other hand, the synergistic mechanism between the TRON ecosystem, SunPump ecosystem, and Huobi HTX operates through multi-layered interactions to achieve resource sharing and maximized benefits. This multi-tiered integration creates a tight-knit ecological loop among SunPump, Huobi HTX, and TRON, strengthening their respective market positions while unlocking greater growth potential for the entire ecosystem.
SunPump VS Pump.fun: TRON "Stealing Market Share" from Solana's Ecosystem
SunPump is TRON’s first fair-launch meme coin platform, designed to provide a decentralized, transparent, and equitable environment for launching meme coins. Its key innovation lies in the fair launch mechanism—using smart contracts and on-chain verification to ensure all users can equally participate in early-stage investments. Additionally, SunPump launched a gas fee reduction campaign offering up to 99% off, significantly lowering transaction costs and boosting user participation.
The target of SunPump is clearly Pump.fun from the Solana ecosystem. Launched in February 2024, Pump.fun began experiencing explosive growth in user numbers and usage by mid-March, achieving multiple days of revenue surpassing Ethereum within just six months. Now, however, Pump.fun faces its strongest competitor yet.
Since Justin Sun announced the launch of SunPump, the platform’s growth momentum has not slowed. The meme coin SUNDOG, fairly launched on SunPump, surged a thousandfold after release and was subsequently listed on major exchanges including Huobi HTX.
"Our team building meme coin infrastructure on the TRON network has been highly focused and received tremendous feedback from the community. Although I had confidence in SunPump, I didn’t expect that within just 10 days, our trading volume would reach 30% of Pump.Fun’s. Now, our goal is to surpass them," said Justin Sun during a live AMA session discussing SunPump’s recent growth trajectory, expressing full confidence in the platform.
Blockchain researcher Adam Tehc pointed out in an X post on August 21 that SunPump’s daily revenue and number of new tokens launched both exceeded those of Pump.fun on that day.
* Data from August 21
SunPump’s user growth rate and trading volume already show robust upward momentum. While Pump.fun still holds advantages in user base and market recognition, SunPump’s rapid development indicates users are gradually shifting toward the TRON network—not only due to SunPump’s strengths in transaction fees, speed, and community support, but also because of its deep integration with the broader TRON ecosystem.
On August 21, SunPump generated approximately 3.65 million TRX (about $567,000) from launching 7,531 meme coins, exceeding Pump.fun’s earnings of 2,575 SOL (worth over $368,000) from issuing 6,941 tokens. SunPump recently surpassed Pump.fun in daily revenue—a significant milestone in the meme coin market.
On August 22, Justin Sun tweeted that transaction fees on SunPump within the TRON network have dropped to 0.76 TRX per transaction, averaging $0.118 per transaction. He emphasized this is a highly competitive rate, with further fee-reduction measures planned, positioning the TRON network as the most cost-efficient in terms of transaction fees.
Clearly, SunPump is riding the TRON ecosystem to逆势 growth, steadily capturing market share previously dominated by Solana’s meme coin scene. Its strong platform advantages and innovation-driven approach have not only attracted numerous emerging projects and investors but also further fueled the comprehensive prosperity of the TRON ecosystem.
TRON Ecosystem Shows Strong Q2 Growth: A Flowing Feast of Meme Frenzy
Data from Messari shows that TRON is one of the few smart contract platforms where on-chain activity (transactions, active addresses, new addresses, etc.) continued rising throughout Q2. Average daily transactions increased 29% quarter-on-quarter, rising from 4.8 million to 6.3 million. June recorded 202.6 million transactions—the highest monthly volume of 2024. Average daily active addresses grew 31%, increasing from 1.5 million to 2 million.
In Q2, TRON remained the second-highest network in terms of TVL. The top three protocols by TVL on TRON were JustLend, JustStables, and SUN.
In Q1, driven by the "meme coin frenzy" and bull market recovery, DEX activity on TRON reached its highest level in years. Nearly all DEX trading volume on TRON occurred on SUN.
In June 2023, SUN introduced concentrated liquidity (CL) AMM into its product suite (SunSwap V3). Since the launch of SunSwap V3, Q1 2024 marked the first time the majority of trading volume on SUN was processed through the V3 AMM. This trend continued into Q2, with SunSwap V3 recording $2 billion in trading volume—accounting for about 67% ($2.4 billion) of total DEX volume on TRON in the quarter.
On August 13, SunPump Beta, a sub-product launched by SUN.io—one of the leading DeFi platforms on TRON—went live. On August 15, TRON and SunPump jointly launched a $10 million Meme Ecosystem Incentive Program.
As the first fair-launch meme coin platform on TRON, SunPump not only fills the gap in TRON’s ecosystem for a “one-click token launch” platform but also has the potential to leverage TRON’s unique ecosystem advantages to spark a new wave of meme coin enthusiasm.
The widespread deployment of meme coins has undoubtedly injected fresh vitality into the TRON ecosystem, becoming a key driver of its sustained growth.
According to data from analytics platform Dune, the number of tokens issued on SunPump surged dramatically in a short period. This phenomenon reflects not only the market’s high enthusiasm for meme coins but also TRON’s ongoing progress in technological innovation and user appeal.
* Dune analytics platform showing recent surge in token issuance on SunPump
Moreover, following SunPump’s successful launch, TRON’s daily protocol income has consistently climbed over recent days, reflecting its solidifying market position in the fiercely competitive crypto landscape. The success of meme coin deployments has brought direct economic benefits to TRON while further enhancing its influence within the blockchain ecosystem. The chart below shows TRON’s protocol income steadily increasing.
* TRON’s protocol income continues to rise recently
Multidimensional Impact of SunPump on TRX and HTX Prices
The meme coin boom within the TRON ecosystem is becoming a major catalyst for TRX price increases. According to IntoTheBlock data, the number of transactions within the TRON DAO ecosystem valued between $100 and $10,000 surged by 124%, likely driven by the hype effect generated by SunPump.
In the past 30 days, TRX’s price has risen over 19%, while BTC and ETH declined by 11% and 26% respectively during the same period. By comparison, Solana (SOL), TRON’s rival in the meme coin space, fell 17%.
During the SunPump launch, TRON founder Justin Sun stated on X that he expects a large wave of TRON-based meme coins to soon list on centralized exchanges, potentially triggering FOMO (fear of missing out) in the market. SunPump has not only driven up TRX’s price but also positively impacted other products in the TRON ecosystem. For example, transaction fees from SunPump and Sun.io are used to buy back and burn SUN tokens, and Sun.io’s trading volume surged nearly 20-fold after SunPump’s launch.
Meanwhile, Sundog, a standout meme coin on SunPump, has further accelerated the surge in token issuance on the platform.
On August 18, the number of meme coins on TRON was fewer than 6,000. According to Dune Analytics, this figure has now jumped to 13,815. If this growth continues, liquidity from the Solana ecosystem may gradually shift to SunPump, further increasing demand for TRX.
Furthermore, the联动 mechanism between the SunPump ecosystem, Huobi HTX, and TRON enables resource sharing and profit maximization through multi-level interactions. First, SunPump charges a 1% transaction fee, paid in TRX and then burned. This mechanism effectively reduces the circulating supply of TRX, helping drive up its price and fueling the development of the entire TRON ecosystem.
* Recent TVL growth of the TRON network
Final Thoughts:
In the cryptocurrency industry, the rise of meme coins is often seen as a fleeting phenomenon, even criticized as disruptive to the market. However, behind the success of certain meme coins lie deeper forces—community power and the spirit of decentralization.
Therefore, despite controversies surrounding meme coins, the underlying logic of community-driven dynamics and decentralized principles may signal a new trend in the crypto industry. This trend not only challenges traditional financial systems but also offers unique opportunities for a new generation of investors and developers.
In future markets, participants who understand and embrace this new trend may gain a strategic advantage in this evolving industry. For assets like TRX and HTX, their long-term success depends not only on market hype but more critically on their ability to remain closely aligned with community energy and advance the long-term development of decentralization.
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