This summer, SunPump has emerged as a standout product in the crypto market, sparking a new wave of the meme coin craze. As the first fair launch and trading platform for meme coins on the TRON ecosystem, SunPump has managed to rival its competitor, Pump.fun on Solana, in daily coin issuance and protocol revenue within just two weeks of its debut. Moreover, it has rapidly nurtured its flagship project, SUNDOG, which now boasts a market cap of over $270 million.
Source: Data from CoinMarketCap on August 27, 2024 (UTC)
Meme coins, from DOGE to PEPE, have evolved over the past decade. With the increasing accessibility of launching new coins and the continuous emergence of new projects, cultivating a project with great growth potential requires bold and innovative strategies. HTX played a key role in SunPump’s success. Their partnership, facilitated by Justin Sun, the founder of TRON and a member of the HTX Global Advisory Board—utilized both on-chain and off-chain strategies to create a win-win scenario, marking a game-changer in the meme field.
Streamlining the Listing Process, HTX Backs Meme Coins on SunPumpÂ
A significant challenge often encountered by meme projects is getting listed on a top-tier cryptocurrency exchange. These exchanges, with their extensive user bases and easy-to-use trading platforms, can significantly enhance a meme project’s visibility and trading volume, driving up its price in the secondary market. However, from the exchanges’ perspective, listing meme coins usually requires meeting stringent standards due to factors such as security and reputational concerns. Even a legendary meme coin like PEPE had to wait over two weeks after its launch before being listed on major exchanges like OKX and Binance. While this approach is relatively safer, it also delays the opportunity for more users to benefit from the potential for short-term gains.
Promising meme projects in the TRON ecosystem are no longer faced with these hurdles. The partnership between HTX and SunPump has greatly simplified the listing process. Projects on SunPump that meet HTX’s listing criteria and sustain a trading volume above $10 million for three consecutive days or achieve a market cap of $30 million can be listed directly on the exchange and immediately benefit from the platform’s traffic. Additionally, HTX delivers customized and diverse solutions to SunPump meme projects, offering everything from futures trading and Earn products to PrimePool and airdrops, fostering meme coins with strong growth potential. HTX’s support has contributed to the rise of SUNDOG, which has become one of the top meme coins of the summer. After its listing on HTX, SUNDOG sustained its upward momentum, reaching an all-time high of more than $0.35 on August 26.
Positioned as the People’s Exchange, HTX Empowers Users to Enjoy High Returns with Ease
Users are those who profited the most from the impressive price increase. HTX data reveals that SUNDOG has gained great popularity since its listing. As of 11:00 (UTC) on August 27, 2024, SUNDOG had skyrocketed nearly 2,600%, with a 24-hour trading volume exceeding $30 million, making it the 6th most traded crypto on the platform. This underscores the evident and strong recognition from users.
Source: Data from HTX as of 11:00 (UTC) on August 27, 2024
In addition to SUNDOG, SunPump also introduced FOFAR, SUNCAT, SUNWUKONG, DRGN, IVFUN, and other meme projects to HTX. All of these projects surged by over 100% following their listings, demonstrating that this collaboration has generated huge wealth effects.
HTX’s listing criteria for SunPump-affiliated meme coins prioritize the security of listed projects. Only projects that have proven themselves and stand out in the market on decentralized exchanges qualify for listing on HTX. Besides, each project also undergoes rigorous security checks by the HTX team prior to listing. This careful vetting process safeguards users from common on-chain risks, such as rug pulls, allowing them to trade quality projects with assurance. It also incentivizes project teams to take their projects seriously.
Essentially, HTX uses metrics such as community engagement, trading volume, and market value to decide whether to list a project in the SunPump ecosystem. This mechanism represents an early achievement in the exchange’s decentralization efforts, moving HTX closer to its aim of becoming the “People’s Exchange”.
HTX Makes a Bold Leap, Taking the Lead in the Meme SeasonÂ
HTX, as the primary gateway to the TRON meme ecosystem, has shown outstanding growth. According to DeFiLlama, as of August 27, HTX experienced an influx of new capital of $1.67 billion over the past seven days, outperforming all other exchanges in their dataset. CoinMarketCap also places HTX among the highest-ranking exchanges in terms of 24-hour trading volume and weekly visits.
Source: Data from DeFiLlama on August 27, 2024 (UTC)
From a strategic standpoint, listing quality assets has always been a central focus and strength for HTX. The partnership with SunPump enables seamless integration between centralized (CEX) and decentralized exchanges (DEX), connecting the abundance of investment opportunities of the TRON ecosystem with a broad user base. This approach facilitates the discovery of premium meme coins and maintains HTX’s leadership in the listing of new assets. By establishing meme coins as a flagship offering and using their wealth effect to draw more users, HTX aims to make its current growth the new norm for the future.
Since his enrollment at the HTX Global Advisory Board, Sun has set the goal for the platform to reclaim its position among the top three exchanges. Currently, HTX is spearheading the meme boom with its unique innovations, and this could be the catalyst it needs to reclaim its position as a top-three exchange.
