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TRX Surges 21% as Tron Network Activity Jumps 124%
Aug 20, 2024 01:27 PM EDT

Tron (TRX) surged 21% last week, driven by a combination of heightened network activity and excitement surrounding the launch of SunPump, a new meme coin platform.

The impressive price rally propelled TRX into the top 10 cryptocurrencies by market cap, with its price rising from $$ 0.126 to $$ 0.1524.$

SunPump Launch Boosts Network Transactions

The launch of SunPump has been a game-changer for the Tron network, significantly increasing on-chain transactions.

The excitement surrounding SunPump has led to a 124% increase in transactions on the Tron network, particularly those ranging from $100 to $10,000. In a single day, transactions between $100 and $1,000 surpassed $100 million, while those between $1,000 and $10,000 surpassed $50 million.

As the excitement around SunPump grows, meme coins launched on SunPump are skyrocketing, with the likes of $sunkong $wolf $shiro seeing their market cap surpass $$ 1 million in record time.