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Tron-Based SUN Token Soars 197% Amid SunPump’s Momentum

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3 months ago

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The memecoin frenzy has reached the Tron Network after the launch of Pump.fun’s rival, SunPum. The new memecoin deployer has been making the headlines after surpassing its Solana-based counterpart on key metrics this week.

The platform’s remarkable performance in the past two weeks has propelled the network, TRX, and the SUN ecosystem. As a result, SUN, the native token of the DeFi protocol behind SunPump, has surged over 190% in the last seven days.

SunPump Takes The Market By Storm

Nearly two weeks ago, DeFi protocol SUN.io introduced SunPump, a Tron-based memecoin launcher to rival Solana’s Pump.fun. The project, which has been heavily promoted by Tron’s founder Justin Sun, became the first memecoin deployer in the blockchain.

Presented as a “convenient and cost-effective token issuance solution,” the deployer has gained significant popularity in the past week. The crypto community was first skeptical about the project, claiming it likely marked “the end of the memecoin era.”

However, its recent performance has brought new life to the Tron network, significantly boosting activity. Dune Analytics data shows that SunPump has deployed over 33,330 memecoins since its creation, generating over 13.1 million TRX, worth around $2 million, in revenue.

On Wednesday, the platform reached an all-time high (ATH) on key metrics, surpassing its Solana counterpart in issued tokens and daily fees. SunPump made $585,000 in revenue on that day from creating 7,531 tokens, while Pump.fun launched 6,701 and generated $366,000 in fees.

tron
SunPump flips Pump.fun in issued tokens and daily revenue. Source: Adam on X

Tron-Based Tokens See Massive Surge

Some investors have capitalized on the new memecoin frenzy with some of the most popular tokens launched in the blockchain. A week ago, two animal-themed tokens saw increases of over 50,000% and 25,000% after launching.

At the time, SUNDOG reached a market capitalization of $60 million, which granted it to be listed on crypto exchanges Poloniex and HTX. Since then, the dog-themed token has reached a market cap of $322 million, currently at $190 million.

As of this writing, SUNDOG is trading at $0.1918, a 260% price increase in the last seven days. Similarly, SUN, the native token of SUN.io, is among the largest winners of the week, with a 197% surge propelled by the network’s momentum.

SUN was originally launched in 2021 and reached an ATH of $66 before crashing due to supply hyperinflation. Since then, the token has been redenominated as a multifunctional governance token on the SUN platform.

Last week, SunPump revealed that 100% of the protocol’s revenue would be used to buy back and burn SUN tokens to “support the sustainable development of the SUN ecosystem.”

Moreover, Binance Futures announced on Thursday the launch of the SUNUSDT Perpetual Contract with up to 75x leverage. This week, the bullish push has made SUN’s price break out of a multi-year consolidation range.

After moving sideways within the $0.003-$0.01 price range for the past four years, SUN broke above the $0.15 resistance level on Tuesday. Since then, the token has continued its bullish rally with a 30.4% increase in the last 24 hours. As of this writing, SUN is trading at $0.031 with a market capitalization of $301 million.

Tron, SUN, SUNUSDT
SUN’s performance in the seven-day chart. Source: SUNUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com



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BTC Continues To Soar, Ripple’s XRP Bullish

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1 day ago

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November 24, 2024

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The crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.

Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.

BTC Hits New ATH Amid Bull Crypto Market

BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.

Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.

Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.

Ripple’s XRP Steals Attention

On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.

Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.

Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s Why Crypto Market and Stocks Falling Suddenly?

Published

6 days ago

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November 19, 2024

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Bitcoin, Ethereum, Solana, XRP and the wider crypto market fell suddenly on Tuesday as Russian President Vladimir Putin signed a decree allowing wider use of nuclear weapons. Stock markets around the globe also saw sharp fall amid the reports. The move comes in response to US President Joe Biden’s authorization to Ukraine to strike Russia with US missiles.

Putin Approves Nuclear Decree, Dumps Stocks and Crypto Market

On November 19, Russian President Vladimir Putin signed a decree allowing Moscow to use nuclear weapons against a non-nuclear state if it is supported by nuclear powers. “Any attack by a nation in a military bloc will be considered an attack by the entire bloc,” as per the reports.

Russia Vladimir Putin Nuclear Decree Russia Vladimir Putin Nuclear Decree
Source: TASS

Stock markets around the world fell suddenly, reversing recent gains and creating a panic selling. Joe Biden’s approving Ukraine using missiles inside Russia has washed away President-elect Donald Trump’s push to bring peace between the nations.

The crypto market saw a selloff in the last few hours as longs were liquidated, as per Coinglass data. Bitcoin (BTC) and Ethereum (ETH) saw a nearly 0.50% drop, while altcoins XRP, Dogecoin (DOGE), Cardano (ADA) and others saw a more than 1% drop in an hour.

PNUT, RAY, XTZ, AKT and other recent gainers were the leading losers in the last few hours. PNUT price dropped 5% to $1.68.

Will Further Panic Trigger BTC Price Selloff to $82K?

US stock futures tied to S&P 500, Dow Jones Industrial Average and Nasdaq Composite also fell as trades took cues from European stock markets.

CoinGape reported that Bitcoin on-chain metrics and market sentiment suggested a 10% correction to drop to $80,000. The next key Bitcoin support zones are at $85,800-$83,250 and $75,520-$72,880.

Moreover, profit bookings are expected as the Crypto market fear and greed index indicates extreme greed, which could result in profit booking.

CryptoQuant CEO Ki Young Ju revealed that 99.3% of UTXOs are in profit now. “Everyone’s happy. This euphoric phase typically lasts 3–12 months (except Nov ’21 bull trap).”

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BTC price fell 0.86% in the past 24 hours, with the price currently trading at $$91,274. The 24-hour low and high are $89,393 and $92,596, respectively.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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WhiteBIT Exchange Announces New Affiliate Program As Crypto Market Cap Hits $3T

Published

7 days ago

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November 18, 2024

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Crypto exchange WhiteBIT has launched a major program offering some users up to 60% in trading fee rewards, creating exciting earning potential for participants. The new affiliate initiative comes as the crypto market cap surpassed $3 trillion amid major adoption by retail and institutional investors.

WhiteBIT Exchange Rolls Out Affiliate Program With 60% Rewards

WhiteBIT has recently rolled out an exciting affiliate program, aimed at expanding its global network of partners and enhancing user engagement. As one of Europe’s largest cryptocurrency exchanges, it now offers affiliates the opportunity to earn up to 60% of trading fees from their referred users, with daily payouts to ensure a steady income.

Through an exclusive, limited-time promotion available until the end of 2024, new affiliates can earn up to 35 USDT in extra rewards for each referral publication and an additional 31 USDT for every new user they onboard. This exclusive offer provides a valuable opportunity for affiliates to maximize earnings while promoting one of Europe’s leading cryptocurrency exchanges.

Affiliates also gain access to a comprehensive analytics dashboard, which includes detailed performance data and insights to optimize their campaigns. This user-friendly dashboard empowers affiliates to track and improve their efforts, enhancing their overall earnings. Additionally, affiliates can create custom campaigns, giving them flexibility and control over how they promote to their audiences.

With this new affiliate program, WhiteBIT aims to foster a strong community of crypto enthusiasts. Participants also join an exclusive affiliate community, gaining early access to new promotional campaigns and updates, ensuring they stay informed on the latest offerings and opportunities.

Crypto Exchange’s Plans Amid Crypto Market Cap Surpassing $3 Trillion

Founded in 2018, WhiteBIT is one of Europe’s leading centralized cryptocurrency exchanges headquartered in Lithuania. With over 5 million users and more than 600 trading pairs, it provides a wide range of services, including spot, margin, and futures trading.

To mark its 6th anniversary, the crypto exchange recently launched the Bull Run app. This interactive Telegram app encourages crypto enthusiasts and traders to enhance their market forecasting skills by participating in a gamified experience. With Bull Run, WhiteBIT aims to make crypto trading accessible and engaging for everyone, supporting the exchange’s mission to broaden the reach of blockchain technology.

The affiliate program came just after the US Election, which sparked optimism in the broader crypto market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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