TronDAO Sees 124% Spike in Transactions Amid SunPumpMeme Hype
TronDao records a 124% increase in transactions following hype cocerning newly launched project, SunPumpMeme.
According to a tweet by blockchain analytics platform IntoTheBlock, TronDao recorded a 124% increase in transactions recently.
“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,” the tweet read.
TRON DAO (Decentralized Autonomous Organization) is a governance model available on the TRON blockchain. The feature allows users or holders of TRON’s native cryptocurrency, TRX, to vote on proposals and take part in decision-making processes on the Tron blockchain, reducing reliance on a central authority.
The launch of the sunPumpMeme has most likely contributed to the recent rise in transactions ranging between $100 and $10,000, on the TRON DAO.
TronDAO and SunPumpMeme
Sun.io, a decentralized finance project built on the Tron blockchain, recently launched SunPump, a new meme coin, on August 13, 2024.
According to the TRON blockchain, it is the first meme fair the platform has launched for users to create and trade meme coins, a feature similar to the Solana-based project Pump.fun.
Since its launch, the meme coin has gained much traction, which has most likely been a key driver of the substantial surge in transactional activity within the TRON DAO ecosystem.
Justin Sun, the founder of the TRON blockchain, is one of the top promoters of the project. He has also unveiled a series of enhancements and strategic partnerships to boost the performance of the project.
For instance, TRON DAO and SunPumpMeme will be launching a $10M Meme Ecosystem Boost Incentive Program.
In addition, Justin acknowledged the risk of bad actors exploiting projects like SunPump to create and deploy malicious tokens, orchestrating rug pull scams in the long run.
He said in a recent interview, “To address this, the Sun team is committed to enhancing our review processes, introducing community oversight, and promoting transparency to ensure the safety and trust of our users. SunPump conducts a thorough vetting of creators and projects before (the project allows them to) launch on the platform, helping to ensure that they meet specific standards of integrity.”
In a recent development related to Justin Sun, an address suspected to be his purchased 16,236 ETH.
