Transactions on Tron Network Grow 124% as SunPump Hype Continues

The recent hype around the Tron network has now translated into increased blockchain activity. Data from IntoTheBlock revealed on Monday that the transactional settlements on Tron have surged significantly, growing over 124% in the last four days.

This recent spike in on-chain activity has been noticed, especially among transactions between $100 and $10,000. Data also revealed a considerable increase in transactions over $100,000 in the past seven days, as over $564.48 million transactions over $100,000 have been conducted on the network.

Notably, the number of transactions on the Tron network went parabolic upon the launch of SunPump, a platform tied to the blockchain’s owner, Justin Sun.

SunPump Boosts the Tron Network

Popular decentralized finance (DeFi) protocol Sun.io launched SunPump, a platform dedicated to the fair launch and trading of memecoins. SunPump allows users to create memes in a user-friendly environment at a low cost.

Meanwhile, activities have drastically increased on the Tron network following the creation of SunPump, as multiple users scramble to create and launch memecoins on the blockchain.  This activity has greatly benefited Tron, as transactions over $100 and $10,000 grew astronomically on the blockchain.  

Tron recorded its lowest weekly transaction of about 28.5 million in February. However, the increase in activities has seen the network grow significantly, recording over 38% to 48.5 million weekly transactions beginning August 5. 

The surge in transactions on the Tron network has seen blockchain on-chain activities generate significant revenue for the network, surpassing the likes of Ethereum and Solana. As per the report, the blockchain performed a daily transaction of about 7.99 million, which saw the Tron network hit its peak since the start of this year.

Meme Frenzy on Tron?

The Tron network recorded its highest single-day revenue of over 2 million $TRX from the token launched on August 17, with over 5,596 total tokens created. As of press time, over 9,550 tokens have been launched with SunPum, and over 3 million TRX have been generated from the launched tokens.

Tron’s biggest strength is the accumulated $60 billion in Tron USDT. No other blockchain protocol has a liquidity pool this large. Memecoins thrive on liquidity, and Tron has it in abundance.

“The issuance of TRON USDT has exceeded $60 billion, which is a significant milestone. We have also become the first blockchain with a single stablecoin surpassing $60 billion,” Sun stated on X.