Traders Shift from Solana to TRON

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Declining Memecoin Launches on Solana

Interest in meme coins on Solana is decreasing, with the platform showing its lowest performance in five months. According to Solana Floor, the number of memecoin launches through pump.fun has significantly decreased over the past five months. From August 5th to August 11th, the platform launched an average of 15,217 tokens daily. By the end of last week, this number had plummeted by 47% to 8,003. Analysts noted that “on August 25, only 5,987 tokens were deployed on pump.fun; this is the lowest number of launches since March 28.” This sharp decline in activity indicates that market interest in new coins is waning and traders are feeling overwhelmed by the glut of the memecoin economy. Additionally, Dune Analytics reported a drop in trading volumes for Solana-based memecoins.

Drop in Revenue for pump.fun

Alongside the decrease in transactions, pump.fun’s revenue also fell. At the start of August, the platform earned about 5,880 SOL per day from commissions. This figure has since dropped by 40% to 3,539 SOL. Experts from Solana Floor explained, “while the decline in average daily revenue was significant, it was mainly due to high activity on the day of Musk and Trump’s conversation at X Space. Such a significant event increased activity on pump.fun to unprecedented levels and helped the site earn over 35,000 SOL.” In addition to the decrease in activity, changes in the platform’s mechanics, including the cancellation of token creation fees on August 9, contributed to the decline.

SunPump’s Growth at pump.fun’s Expense

Despite the downturn on Solana, SunPump on TRON is experiencing substantial growth. Traders are shifting towards the memecoin creation platform SunPump, as it captures the crypto community’s attention. In an effort to attract more stakers, Justin Sun announced an update increasing the network’s energy limit to 120 billion. He stated, “TRON Community Proposal #92 has gone into effect, increasing the energy limit to 120 billion, which means TRX stakers can make more transactions, fees will go down, and activity on the network will increase.” Sun also expressed his intention to expand market share and increase the network’s profits, anticipating that reducing transaction fees would boost the number of transfers to 20 million per day within three months.