Key information:
-
Tron was boosted in late August 2024 by its new memecoin platform, SunPump.
-
Ethereum and Solana have seen low on-chain quantity since the starting of the yr.
During the month of August 2024The blockchains that generated the most income have been Tron (TRX), Ethereum (ETH) and Solana (SOL). The income recorded have been $61 million, $35 million and $16 million, respectively, based on the analytics platform. on-chain Artemis.
However, this knowledge doesn’t mirror the present scenario of those networks. For instance, Tron’s income rose sharply in the final weeks of August after which returned to its earlier low ranges in the first days of September. Ethereum, on the different hand, fell in March 2024 to present ranges, whereas SOL maintained its low quantity all through the yr.
This data could be seen in the following graph of income per chain, which covers from January 2024 to the current. The gray line reveals the efficiency of Ethereum; the inexperienced line reveals that of Solana; and the crimson line reveals that of Tron. At the backside, the dates
Tron was boosted by memecoins in late August
The Tron community confirmed fleeting progress in the final weeks of August. During this era, it gained floor on each Ethereum and Solana, though it later fell again till it virtually caught up with each chains.
To a big extent, the reason for the curiosity, reported by CriptoNoticias, was linked to the creation and advertising and marketing of memecoinsinside its specialised platform SunPumpHere, Tron offered a spot the place customers might commerce these cryptoassets, which are sometimes linked to memes or pay tribute to well-known individuals.
Typically used for monetary hypothesis, these memecoins of the Tron community have been the cryptoassets with the biggest will increase throughout August 26, 2024. Among them, SunDog (SUNGOG), SunPepe (SUNPEPE) and Fofar (fofar.meme) stood out, registering upward actions of as much as 80%.
On August 26, Telegram CEO Pavel Durov was arrested. This led to a depreciation of TON, the token of The Open Network, which in the end triggered Tron’s native cryptocurrency, TRX, to surpass TON in market capitalization. This stays true to today.
