New Trends in the Memecoin Market: Intense Competition Among Launch Platforms on Tron and Solana

Recently, the Memecoin market has welcomed new developments. Since its launch on August 13, the first memecoin launch platform on the Tron network, SunPump, has performed exceptionally well, with a market value rapidly surpassing $1.1 billion and daily active users reaching 20,000. Meanwhile, the established platform Pump.fun on the Solana chain continues to maintain strong momentum. Let's take a closer look at the development of these two platforms and conduct a comparative analysis.

SunPump: The Rising Star on the Tron Network

As the first Meme coin issuance and trading platform on the Tron network, SunPump provides creators with a convenient and low-cost way to issue meme coins. According to data from the platform, as of August 23, SunPump has issued nearly 32,000 token projects in just 11 days, with protocol revenue exceeding 12,811,356 TRX (approximately 1.91 million USD). On August 22, SunPump's daily revenue reached 567,000 USD, surpassing Pump.fun's 368,000 USD.

SunPump launched just a week ago, and several meme projects have seen their market values exceed $1 million. Among them, Sundog's market value is the highest, approaching $300 million, with a 24-hour trading volume exceeding $5 million. At the same time, a well-known individual changed their social media avatar to the image of Wukong from "Black Myth", driving the market value of SUNWUKONG to surge 8 times in a short period, reaching $5 million, which also spurred further increases in the price of TRX.

The Operating Mechanism of SunPump

1. Users browse and select the meme coins they are interested in on the platform.
2. Purchase tokens through the Bonding Curve mechanism, providing users with a friendly purchasing process.
3. Users can sell tokens at any time, whether to lock in profits or to stop losses.
4. With the increase in community participation and purchase volume, the market value of meme coins is expected to rise rapidly. Once the market capitalization of the token exceeds $69,420, liquidity will be added to the decentralized exchange on Tron.
5. Create liquidity and destruction mechanism. After the Bonding Curve is completed, approximately $12,000 of TRX liquidity support will be automatically deposited into a certain DEX and will be destroyed.

Pump.fun: The Leader on the Solana Chain

Pump.fun is a leading platform for creating and trading memecoins on the Solana blockchain. It allows users to quickly create tokens in response to news events or social phenomena, making it a standout in the Memecoin issuance platform space. The platform launched at the end of January this year and began to gradually enter the public eye in April.

Despite fierce market competition, Pump.fun still maintains its leading position, sustaining a high level of market attention and popularity. According to data platforms, as of August 23, Pump.fun has deployed over 1.86 million token projects, with total revenue exceeding 651,072 SOL (approximately 93.8 million USD).

On the Pump.fun platform, users can easily create a memecoin by simply entering the token name, trading code, and image. The whole process is simple and intuitive, requiring almost no technical knowledge. The cost to deploy a token is about 0.02 SOL (approximately $3), allowing users to easily try creating their own token.

Pump.fun uses a Bonding Curve model to determine token prices. As the number of buyers increases, the token price gradually rises along the predetermined curve. When the market value of a certain token reaches $69,000, the platform will automatically deposit $12,000 worth of liquidity into a certain DEX.

Recently, Pump.fun launched a live broadcasting feature called "Stages," which supports multiple users broadcasting simultaneously, screen sharing, and voice chat, further enhancing the platform's interactivity and user experience.

SunPump vs Pump.fun

SunPump relies on the large user base and strong personal influence of the Tron chain, quickly surpassing a market value of 1.1 billion USD. The incentive program launched in collaboration with Tron DAO further increased the platform's popularity and appeal.

In contrast, Pump.fun, as a leading platform on the Solana blockchain, has generated nearly $100 million in revenue since its launch at the beginning of the year, thanks to its simple user interface and unique asset issuance design, firmly holding the top market position. Pump.fun leverages the active community ecosystem of SOL, gaining an advantage in both user numbers and trading volume. By combining social media dynamics with financial incentives, Pump.fun further enhances the user interaction experience.

Both platforms emphasize low fees and ease of use, which have jointly driven the prosperity of the memecoin market, each attracting widespread attention and participation from the community in their unique ways. As the market continues to evolve, the competition between these two platforms will intensify, bringing more innovations and opportunities to users.