SunPump’s meme token launchpad on the TRON network has halved trading fees

What’s new? On August 27, Justin Sun, TRON blockchain founder and head of HTX and Poloniex crypto exchanges, announced a 50% reduction in trading fees on the SunPump meme token launch platform. “If you thought the trading fees were too high before, it’s time to come back! We will continue to work on lowering the costs of trading meme tokens on Tron,” the entrepreneur concluded.

Source: X.com

What else is known? SunPump launchpad was launched on the TRON blockchain on July 13. It allows for the issuance of humorous assets in a few clicks using a fair launch model, where all coins are released at one time, without presale and distribution with a lock-in period to certain groups of investors.

Sun has been actively promoting the platform in his own X-account, emphasizing TRON’s focus on meme token developers. He also stated that the success of this strategy will increase the blockchain’s projected revenue from $3 billion to $4 billion over the next 12 months.

As a result of its promotional efforts, SunPump has overtaken its main competitor, Pump.fun launchpad on the Solana network, in terms of daily coins issued, revenue, and percentage of successful listings on major ecosystem decentralized exchanges (DEXs) just a week after launch.

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On August 23, analysts at blockchain platform Santiment noted that the TRON (TRX) native token became the most talked about crypto asset amid the success of SunPump. According to them, the surge in on-chain activity and a sharp rise in the number of users indicates growing demand and shrinking supply. The asset then added 22% in 24 hours.

TRX ranks tenth in the overall ranking of cryptocurrencies by market capitalization with over $13,8 billion and is trading at $0,1593, having lost 0,8% over the day. The weekly drop was 3,7%, with a year-to-date gain of 48%.

The largest tokens in the SunPump ecosystem are Sundog (SUNDOG), Dragon Sun (DRGN), and SunWukong (SUNWUKONG) with capitalizations of $247 million, $29 million, and $21 million, respectively. The native token value of the SUN platform is approaching $320 million, with the asset trading at $0,03222, having added 10,2% overnight.

Also on August 27, Sun reported that SunPump’s revenue exceeded expectations, leading the platform community to intend to increase the amount of burnable SUN coins received as fees.

Source: X.com

He also expects TRON and SunPump to reach new record highs in the number of active users this week.

Source: X.com

Crypto analyst Patrick Scott reported on August 26 that fees on the TRON network more than doubled to $22 million as a result of the surge in activity. That is more than the Ethereum and Solana blockchains combined.

Source: X.com