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- TRON DAO saw a 124% surge in transactions, largely driven by the hype surrounding SunPump’s memecoin platform.
- TRON has surpassed Cardano in market cap, driven by the explosive growth in the memecoin market.
The TRON DAO ecosystem is enjoying a big spike, thanks to the current excitement surrounding SunPump, a memecoin platform.
According to IntoTheBlock data, the volume of transactions in the TRON ecosystem worth $100 to $10,000 has climbed by an astonishing 124%. This surge in activity is most likely due to increased interest in SunPump, which has fueled spectacular growth in the memecoin market.
The @trondao ecosystem has experienced a 124% increase in the number of transactions valued between $100 and $10,000, likely driven by the growing hype around @sunpumpmeme. pic.twitter.com/vm74qvZqp9
— IntoTheBlock (@intotheblock) August 19, 2024
SunPump Boosts TRON’s Market Cap, Pushing It Past Cardano
CNF also reported that SunPump’s impact has not only moved TRON forward but has also resulted in the blockchain exceeding Cardano in market capitalization. Cardano has fallen out of the top 10 ranks as investor caution has set in, while TRON has risen to the top.
The introduction of SunPump was a game changer for the TRON network, culminating in the generation of 4,844 memecoins. This has resulted in huge revenue, totaling 1.84 million TRX.
On the other hand, TRON continues to lead in USDT transactions. As we previously reported, USDT transfers accounted for more than 99% of the top ten contracts on the TRON network in June 2024.
TRON’s USDT supply has now surpassed Ethereum, accounting for 53% of the overall supply. This dominance demonstrates TRON’s expanding presence in the decentralized finance (DeFi) sector.
Meanwhile, TRX, TRON’s native token, is also seeing an increase. TRX is currently trading around $0.1432, up 6.51% over the last 24 hours. Additionally, trading volume has increased by 174%, hitting $718.82 million.
