Tron’s founder, Justin Sun, projects a surge in meme coin growth on the Tron blockchain. Sun attributes this potential boom to sustained development efforts and high community involvement in Tron’s recent meme coin initiatives.
However, he expects a strong push past TRX’s previous price peak, which could result in substantial FOMO (fear of missing out) and further raise the allure and spending on meme coins in Tron.
Recently, the Tron blockchain, with Sun at the helm, has launched SunPump. It is a platform that offers assistance in creating meme tokens on Tron. This has started to increase the network’s transaction volume.
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According to Sun, SunPump’s launch marks Tron’s dedication to pushing groundbreaking products in the meme coins market. It is also a step towards strengthening the community’s involvement.
Tron’s Deflationary Burns Fuel TRX Growth
In Q3 2024 and Q3 2024, Tron’s native token TRX has seen impressive growth, from a $11 billion market cap to $13.5 billion. The rise represents the seventh consecutive quarter of expansion for TRX.
The crypto ranks among the top 10 by market cap, along with XRP and Dogecoin. Blockchain analysis firm Messari highlighted that TRX is one of the few coins that sustained growth based on consistent user activity and heightened interest in Tron-based assets.
Q3 was great for TRX because volumes significantly grew due to the influence of the meme coin SunPump. The network witnessed its highest single-day burn in August, erasing over 270 million
TRX tokens, or $42 million, from circulating supply. This burn is a deflationary action. It further explains the token based on the fact that the burn reduces supply, and thus TRX’s supply reduces.
Tron is also actively reducing inflation by capping the supply of TRX tokens at 100 billion. The reduction in the circulating supply of TRX happened due to an increase in burning activity during Q3.
Tron’s inflated token supply has now pushed its annualized deflation rate to -2.7%. It is a direct indication that Tron has taken steps to cut its own supply and attract long-term investors.
SunPump Launch Drives Tron Meme Coin Growth
This has further increased interest in Tron as a network after staking yields for TRX holders have increased due to its deflationary tokenomics strategy. New participants joined who were looking for higher returns, driving staking yields up 13% quarter on quarter.
TRX’s deflation rate is increasing. The native Tron staking ecosystem is becoming more appealing, meaning better long-term network engagement and a more stable token.
TRX is now among the top crypto cattle by market capitalization, with a market valuation of $14.4 billion. The launch of SunPump and the growth of Tron’s communities are critical to this growth,. This powers the platform’s expanding meme coin ecosystem.
Based on Tron’s balance of token burns and increased user activity, the environment is meant to provide an investment and meme coin-friendly platform for investors. TRX slightly increased by 1.02% at the time of reporting to stabilize at $0.1664.
For Justin Sun, TRX’s role in disrupting traditional finance is growing. It includes a widespread ecosystem and market expansion through strategic platform launches and a real appetite for controlled deflation.
TRX Price Stability Signals Investor Confidence Boost
This has further increased interest in Tron as a network after staking yields for TRX holders have increased due to its deflationary tokenomics strategy. New participants joined who were looking for higher returns, driving staking yields up 13% quarter on quarter.
TRX’s deflation rate is increasing, and the native Tron staking ecosystem is becoming more appealing, meaning better long-term network engagement and a more stable token.
TRX is now among the top cryptos by market capitalization, with a market valuation of $14.4 billion. The launch of SunPump and the growth of Tron’s communities are critical to this growth, which powers the platform’s expanding meme coin ecosystem.
Based on Tron’s balance of token burns and increased user activity, the environment is meant to provide an investment and meme coin-friendly platform for investors.
TRX slightly increased by 1.02% at the time of reporting to stabilize at $0.1664. For Justin Sun, TRX’s role in disrupting traditional finance is growing to include a widespread ecosystem and market expansion through strategic platform launches and a real appetite for controlled deflation.
