Connect with us

Market

Solana’s Pump.fun vs. Tron’s SunPump: Meme Coin Showdown

Published

on


Solana’s meme coin launchpad Pump.fun is actively defending its market share against Tron’s SunPump, which entered the space in early August.

This competition between the two platforms has fueled the “meme coin wars” trend, with both vying for dominance based on factors such as fees, revenues, sustainability, and profitability. 

How Solana’s Pump.fun Battles Tron’s SunPump

A Monday press release outlined Solana’s Pump.fun strategy to defend its market share against Tron’s SunPump. Solana’s project accelerator, Orbitt, announced that its market-making service, Orbitt MM, now supports volume boosts for Pump.fun.

Orbitt MM aims to enhance the trading volume and visibility of Pump.fun token launches, thereby increasing the likelihood of project success and helping Pump.fun maintain its competitive edge in the meme coin space.

“Orbitt MM’s Pump.fun integration will make it easier for meme coin projects to capture the sort of volume that attracts users and adds sustainability. Widely used by Solana token projects seeking to increase volume, Orbitt MM has now been optimized for Pump.fun’s token launchpad,” read the announcement.

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

With this new development, projects launched on Solana’s Pump.fun will benefit from Orbitt MM’s support, boosting both pre- and post-launch trading volumes. This is expected to attract investor interest and draw more capital to the platform, while also reviving underperforming Pump.fun projects.

Once a token completes its bonding curve on Pump.fun and is listed on Raydium, Orbitt MM will seamlessly transition the volume-boosting process to Raydium. This bonding curve mechanism differs from the model used by Tron’s SunPump.

Meanwhile, SunPump continues to challenge Pump.fun’s market dominance. Justin Sun has leveraged Tron blockchain’s extensive $60 billion USDT liquidity to drive meme coin creation, fueling a competitive rivalry between the two platforms.

“For me, when it comes to the whole “Why TRON, why SunPump Meme?” thing, the biggest flex is that $60 billion in TRON USDT. No other blockchain protocol has a liquidity pool this massive. Meme coin platforms live and die by liquidity, and TRON’s got it in spades,” Sun noted.

Over the past month, Justin Sun has actively promoted SunPump, highlighting key developments in fees and trading costs. These efforts have shifted attention from Solana to Tron, leading to a 47% decline in token deployments on Solana’s Pump.fun.

Fast-Mover Advantage Keeps Solana’s Pump.fun in the Lead

According to data from Dune, Solana’s Pump.fun remains resilient despite increasing competition from Tron’s SunPump. On key revenue metrics, Pump.fun continues to lead, surpassing $100 million in total revenue. Over the past 24 hours alone, Pump.fun generated $278,914, compared to SunPump’s $36,139.

In terms of new active addresses, Pump.fun is also ahead with 12,421, compared to SunPump’s 1,926. The Solana launchpad leads in several other categories, including trenches volume and daily fees collected.

While Pump.fun dominates on multiple fronts, it’s important to note that it launched in January, giving it a first-mover advantage. SunPump, launched on August 9, has made rapid strides but remains behind in several metrics. As the meme coin launchpads compete for dominance, traders are watching closely to see which platform will gain the upper hand.

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

SunPump vs. Pump.fun. Source: Dune Analytics
SunPump vs. Pump.fun. Source: Dune Analytics

However, both launchpads face risks due to the rise of meme coin rug pulls, where malicious actors capitalize on the trend to launch scam tokens. Investors must stay cautious amidst these risks. Amidst such concerns, SushiSwap joined the space among the top crypto news this week.

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.



Source link

Market

Trump Media Files Trademark for Crypto Platform TruthFi

Published

on


Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing. 

The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.

Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year. 

However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social. 

The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter). 

Trump Media truthfi trademark filiing
TruthFi trademark filing. Source: Trademark Status and Document Retrieval

Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees. 

“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter). 

As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week. 

Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.

Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance

Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion. 

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.



Source link

Continue Reading

Market

Banana Gun Rises After Justin Sun’s $6.2 Million Art Purchase

Published

on


Justin Sun, founder of TRON and Poloniex CEO, has purchased the viral art piece Comedian—a banana duct-taped to a wall—for $6.2 million at Sotheby’s.

Following the purchase, Sun announced on X (formerly Twitter) that he plans to eat the artwork. This has ignited a frenzy of memes, commentary, and market reactions, even causing the crypto token Banana Gun to spike in value.

Crypto Reacts: Banana Gun on the Rise

Maurizio Cattelan’s Comedian gained international fame in 2019 when it was first displayed at Art Basel Miami. Its simplicity and absurdity—a banana taped to a wall—sparked debates about the nature of art. The so-called artwork became viral when performance artist David Datuna ate it in a stunt dubbed Hungry Artist.

Sun’s pledge to eat the $6.2 million fruit has also drawn parallels, adding another layer of humor to the piece’s history. The Tron founder even said he’s willing to donate the banana to Elon Musk and send it to Mars.

Justin Sun with Comedian Artwork. Source: X (formerly Twitter).

Meanwhile, several users even recreated their own version of Comedian and shared it on social media. One fan followed up by taping bananas around the Massachusetts Institute of Technology (MIT) campus, encouraging others to “tape all over the world” and start a movement.

What they are campaigning for, precisely, remains to be seen.

“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned,” Sun said on X.

The ripple effects of Sun’s purchase eventually trickled beyond the confines of art and humor and into crypto markets. The token Banana Gun, which shares its name with the theme, surged nearly 16% following the news. Traders and enthusiasts, ever attuned to cultural moments, appear to have seized the chance to capitalize on the buzz.

Banana Gun Price Performance.
Banana Gun Price Performance. Source: BeInCrypto.

Sun’s acquisition and the banana’s virality bring to mind another recent development in the art-crypto nexus. Earlier this week, Ethereum co-founder Vitalik Buterin allegedly minted 400 Patron NFTs. This development sparked hopes of a resurgence for the NFT market.

This aged well…. $BANANA is an insane project. For me, this is in the same league as $ZIG. Fundamentals are truly insane. No matter which narrative will cook next, $BANANA will profit from it,” said one trader on X.

The combination of Sun’s high-profile purchase and the market’s reaction to Banana Gun demonstrates how art, humor, and technology continue to blur boundaries. Whether Sun’s banana-eating spectacle will leave a lasting impact or peel away (pun intended) into meme history, one thing is certain—the intersection of crypto and culture remains as unexpected as ever.

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.



Source link

Continue Reading

Market

Cardano (ADA) Price Hits 41% Weekly Growth, $1 Target in Sight

Published

on


Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX and Ichimoku Cloud, which point to sustained positive sentiment.

However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressure weakens.

ADA Current Uptrend Is Still Strong

Cardano DMI chart shows an ADX of 42.7, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.

With the positive directional index (D+) at 21.3 and the negative directional index (D-) at 11, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.

ADA DMI.
ADA DMI. Source: TradingView

The ADX measures the strength of a trend without considering its direction. Values above 25 indicate a strong trend, while those below 20 suggest a weak or nonexistent trend. With an ADX at 42.7, ADA is clearly in a strong uptrend, showing significant market confidence.

The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could sustain its upward movement if current conditions persist.

Cardano Ichimoku Cloud Shows An Important Signal

The Ichimoku Cloud chart for Cardano indicates a generally bullish trend, as the price remains above the cloud (Kumo). The Tenkan-sen (blue line) and Kijun-sen (red line) are relatively flat, showing signs of consolidation after ADA’s recent rally.

While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen suggests weakening short-term momentum.

ADA Ichimoku Cloud.
ADA Ichimoku Cloud. Source: TradingView

The green cloud ahead signals potential support for ADA uptrend, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.

If the price drops below the Kijun-sen or approaches the cloud, it could signal a possible shift toward bearish sentiment.

ADA Price Prediction: Can It Reach $1 In November?

If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

However, as indicated by the Ichimoku Cloud, a potential reversal could be on the horizon. If bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.

If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io