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Key Differences You Need to Know

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Meme coin enthusiasts are caught in a battle between two leading platforms: SunPump and Pump.fun. SunPump operates on the Tron blockchain, while Pump.fun runs on Solana, with each platform offering unique models for token generation.

These meme coin launchpads have both emerged as market leaders, inadvertently competing for dominance in the space. Traders are watching closely to see which platform will gain the upper hand as the rivalry continues.

Solana and Tron Meme Coin Launchpads

DWF Ventures conducted an in-depth analysis comparing Tron’s SunPump and Solana’s Pump.fun. The report highlights key differences in their ecosystems, bonding curve mechanisms, token deployment, and revenue generation.

Ecosystems

Pump.fun, operating on the Solana blockchain with a fully diluted valuation (FDV) of $81.4 billion and a total value locked (TVL) of $5 billion, leads in token deployment and revenue. The platform has successfully launched 193,000 tokens, generating $105 million in revenue.

On the other hand, SunPump, despite being newer, is quickly gaining traction on the Tron blockchain, boasting a higher daily active user (DAU) count and total value locked (TVL) of $8.21 billion. 

Read more: What Is TRON (TRX) and How Does It Work?

Tron TVL
Tron TVL. Source: DefiLlama

Bonding Curve Mechanism

Both platforms use bonding curve models. This means that as more users buy into the curve and the market capitalization reaches $69,000, $12,000 of the liquidity is deposited into the Raydium Protocol for Solana’s Pump.fun and SunSwap for SunPump.

Raydium Protocol serves as an on-chain order book automated market maker (AMM), driving the growth of decentralized finance (DeFi) on Solana. In contrast, SunSwap Finance, part of the Binance Smart Chain (BSC) network, is focused on yield farming, offering returns to participants based on their investments.

Decentralized Exchange Conversion Rate

Despite the initial excitement surrounding SunPump and Pump.fun, the decentralized exchange (DEX) conversion rates for both launchpads have remained quite low, with SunPump at 2.1% and Pump.fun at 1.4%.

DWF Ventures’ analysis points out that while these platforms have made it easier for users to launch tokens, successfully building a meme coin community and securing a DEX listing is much more challenging.

Token Launch Successes for Pump.fun and SunPump, Source: DWF Ventures
Token Launch Successes for Pump.fun and SunPump. Source: DWF Ventures

Tokens Deployed, Revenue, and Fees

In terms of tokens deployed, Solana’s Pump.fun is leading, having launched nearly eight months ago. The platform has deployed around 1.9 million tokens, generating $105 million in revenue.

Initially, Pump.fun charged creators approximately $2.6 (0.02 SOL) for token creation, similar to SunPump. However, when SunPump launched on the Tron blockchain, Pump.fun eliminated creation fees, shifting the cost to the token’s first buyer.

SunPump, although just a month old, is quickly gaining traction. Justin Sun is focused on expanding market share and increasing profits, envisioning over 20 million daily transactions within three months.

“While touted as a pump.fun competitor, SunPump still falls well short of Pump.fun’s activity. Since launching on August 9, SunPump has facilitated the launch of over 46,000 tokens, 77% less than Pump.fun’s 193,000 launches in the same time frame,” a Solana Floor report explained.

Read More: How to Buy Solana Meme Coins: A Step-By-Step Guide

The meme coin launchpad space is becoming increasingly competitive, with platforms like Jupiter’s LFG entering the fray, boasting over $1.032 billion in total value locked, according to DefiLlama data.

While Solana’s Pump.fun has the advantage of being a first mover, Tron’s SunPump is emerging as a strong competitor, driven by Justin Sun’s bullish outlook. The SunPump hype could boost Tron transactions beyond the 29% growth recorded in Q2.

However, both platforms face risks due to the prevalence of meme coin rug pulls, leading to investor uncertainty. Amidst such concerns, SushiSwap deployed a launchpad to prevent pump and dump challenges.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Downtrend Deepens—Is a Rebound Possible?

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Cardano price started a recovery wave above the $0.680 zone but failed. ADA is consolidating near $0.650 and remains at risk of more losses.

  • ADA price failed to recover above the $0.70 resistance zone.
  • The price is trading below $0.680 and the 100-hourly simple moving average.
  • There was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair (data source from Kraken).
  • The pair could start another increase if it clears the $0.70 resistance zone.

Cardano Price Dips Again

In the past few days, Cardano saw a recovery wave from the $0.6350 zone, like Bitcoin and Ethereum. ADA was able to climb above the $0.680 and $0.6880 resistance levels.

However, the bears were active above the $0.70 zone. A high was formed at $0.7090 and the price corrected most gains. There was a move below the $0.650 level. Besides, there was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair.

A low was formed at $0.6356 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. Cardano price is now trading below $0.680 and the 100-hourly simple moving average.

On the upside, the price might face resistance near the $0.6720 zone or the 50% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. The first resistance is near $0.6950. The next key resistance might be $0.700.

Cardano Price

If there is a close above the $0.70 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.7420 region. Any more gains might call for a move toward $0.7650 in the near term.

Another Drop in ADA?

If Cardano’s price fails to climb above the $0.6720 resistance level, it could start another decline. Immediate support on the downside is near the $0.6420 level.

The next major support is near the $0.6350 level. A downside break below the $0.6350 level could open the doors for a test of $0.620. The next major support is near the $0.60 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.6420 and $0.6350.

Major Resistance Levels – $0.6720 and $0.7000.



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XRP Price Under Pressure—New Lows Signal More Trouble Ahead

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Bitcoin Price Swings Wildly—Yet Bears Keep the Upper Hand!

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Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone.

  • Bitcoin started a decent recovery wave above the $84,500 zone.
  • The price is trading near $83,500 and the 100 hourly Simple moving average.
  • There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it stays above the $82,200 zone.

Bitcoin Price Dips Sharply

Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave above the $83,500 resistance zone.

The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels.

There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low.

Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.

More Losses In BTC?

If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,800 level. The first major support is near the $82,200 level.

The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $82,800, followed by $82,200.

Major Resistance Levels – $84,200 and $85,500.



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