The post Traders Make 100x Profits On TON; Justin Sun Unveils SunPump Token Generator appeared first on Coinpedia Fintech News
Justin Sun Releases A New Token Generator!
Memecoins have become a key part of the recent crypto bull market. In a recent development, Sun.io, the DeFi protocol associated with Tron founder Justin Sun, has released a token generator dubbed SunPump, a platform that will allow users to create meme coins on the Tron blockchain. The new platform will rival Solana’s Pump.fun token generator, where transaction fees surged to an all-time high this week with a total of $5.3 million in 24 hours.
Platforms like Pump.fun have been criticized for the fact that they create a cheap way for bad actors to create a meme coin only to perform a rug pull once investors have added value.
Sun, in an interview, said “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 they are allowed to launch on the platform so that they meet specific standards of integrity.”
How Is It Different From Pump.fun?
According to Sun, what sets the two projects apart is, due to a partnership with crypto exchange Poloniex, projects that maintain $1 million in daily trading volume for three days will be eligible to be listed on the platform. Tron and SunPump are also putting $10 million together to create the Meme Ecosystem Boost Incentive Program, designed to provide resources for newly launched tokens and a review process put in place to avoid rug pulls.
Traders Make 100x Gains On TON
So far, Tron Network has made an important pivot into the meme coin scene with a good performance. According to data insights from Lookonchain, some traders are already making a lot of money trading Tron-based meme coins.
Based on Tron Scan trades, some traders have made 100x gains trading these memes on the protocol. According to Lookonchain, a trader identified as ‘TEP7…T1da’ has achieved a remarkable 104x return by trading MEMEcoins on the Tron Network. The trader initially spent 5,000 TRX worth $650 to purchase 6.87 million SUNDOG tokens. Within just 7 hours, he sold 4.57 million SUNDOG for 522,840 TRX (around $68,000), netting a profit of 517,840 TRX equivalent to $67,300).
This kind of growth was recorded in the early days of Shiba Inu and PEPE. The trader still holds 2.29 million SUNDOG tokens worth approximately $76,000 in unrealized profit. This trade will potentially drive in massive meme coin farmers into the Tron network.