{"id":306526,"date":"2024-09-02T11:12:29","date_gmt":"2024-09-02T11:12:29","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=news&p=306526"},"modified":"2024-09-02T11:12:29","modified_gmt":"2024-09-02T11:12:29","slug":"sun-crypto-token-sunpump","status":"publish","type":"news","link":"https:\/\/www.techopedia.com\/news\/sun-crypto-token-sunpump","title":{"rendered":"$SUN Token Gains 230% as SunPump Gains Momentum"},"content":{"rendered":"

Sun Token<\/strong> ($SUN) has gained more than 231% over the past month amid a surge in the popularity of SunPump<\/strong>, a Tron-based meme coin<\/a> launchpad launched last month.<\/p>\n

On Friday, August 30, Sun Token reached $0.028, its highest level since December 2021. The surge represents a staggering 526% increase from its lowest point in 2023, driving the token’s market capitalization<\/a> from $101 million on August 17 to over $328 million.<\/p>\n

Memecoins on the TRON ecosystem are a rare shoot of green during a largely red period for the crypto markets.<\/p>\n

The price increase mirrors the broader performance of other tokens within Justin Sun<\/a>‘s ecosystem. TRX<\/a>, the native token of the Tron blockchain, saw its value rise to $0.1660, the highest it has been since May 2021. Similarly, BitTorrent<\/a> surged to $0.0000010, and Just (JST) reached $0.034, marking a 40% increase from its lowest point this year.<\/p>\n

Furthermore, the total value locked (TVL)<\/a> within SUN’s DeFi platform has enjoyed a significant boost. According to data from DeFi Llama<\/a>, SUN’s TVL has reached $781 million, the highest level since November 2022.<\/p>\n

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