YEREVAN (CoinChapter.com) — Pump.fun’s cumulative revenue has crossed $50 million. The Solana-based memecoin launchpad is noted for its ease of use and Solana’s low transaction fees. According to DefiLlama data, Pump.fun generated over $598,000 in revenue within the past 24 hours.
Pump.fun’s Memecoin Launch and Continued User Engagement
Pump.fun has helped launch over 1.18 million memecoins. The platform’s popularity grew amid the recent meme-token boom, resulting in the creation of various political-themed cryptocurrencies, celebrity tokens, and more. Data from Dune Analytics confirms the high volume of memecoins deployed via Pump.fun.
Pump.fun Deployment Trends. Source: @hashed_official
Recent unfavorable market conditions have caused a dip in daily fees. However, Pump.fun still shows significant user engagement and economic activity on the Solana network.
Pump.fun Boosts Solana’s Economy Amid Rising Competition
The substantial fees generated by Pump.fun and the large number of tokens deployed have brought considerable economic activity to Solana. The platform maintains high user interest and drives transactions.
Dexscreener, a crypto data aggregator, launched a rival memecoin launchpad named Moonshot. Also based on Solana, Moonshot accumulated nearly $500,000 in revenue during its debut week, according to DefiLlama data. This new competitor adds another layer to the growing memecoin market on Solana.
Pump.fun’s Revenue Model and Celebrity Impact on Solana
Pump.fun charges a 1% fee on trades and a two SOL fee when tokens gain enough liquidity to list on Raydium, a decentralized exchange on the Solana blockchain. This revenue model has significantly boosted user engagement and transaction activity within the Solana ecosystem.
Celebrity involvement has also contributed to Pump.fun’s growth. Last month, Caitlyn Jenner launched her token, JENNER, on the platform and heavily promoted it. The token’s value quickly rose to $43.6 million after the launch but has since dropped by over 85%.
Key Numbers and Facts
- Pump.fun’s cumulative revenue: $50 million+
- Memecoins launched: 1.18 million+
- Recent 24-hour revenue: $598,000+
- Moonshot’s debut week revenue: $500,000
