By Nermeen Nabil Khear Pump.fun surpassed Solana and Ethereum in 30-day trading volume, with Solana generating over $119.33 million in monthly fees, while Ethereum recorded $142.57 million. Data from DefiLlama showed that Pump.fun recorded $295.53 million in trading volume in the past 24 hours. It has also recorded a 24-hour trading fee of $1.45 billion.
Dune analytics indicated that 47% of Solana’s revenue was driven by transactions on the memecoin launchpad Pump.fun. The data revealed that Pump.fun had launched over 4.2 million memecoins.
Pump.fun outshines Solana and Ethereum in monthly revenue
📊REPORT: @pumpdotfun surpasses Solana and Ethereum in monthly revenue.
– Solana: $114M
– Ethereum: $110M
– Pumpdotfun: $119M pic.twitter.com/UG2Fa1O1kZ— SolanaFloor (@SolanaFloor) January 30, 2025
Pump.fun has surpassed Solana and Ethereum in 30-day revenue, indicating growing user activity on the world’s third-largest blockchain. Pump.fun realized a 30-day revenue of $116.72 million, SOL brought in $116.46 million in monthly revenue, while Ethereum reached $107.64 million.
Dune Analytics data revealed that of the 14 million crypto wallets interacting with Pump.fun, only 0.4% made a profit above $10,000. Pump.fun has raked in $1.15 million in trading fees in the last 24 hours. The memecoin launchpad has also recorded an all-time fee revenue of $435.29 million.
Despite Solana’s recent growth, its cumulative fees still fall short of Ethereum’s over a 30-day period. Solana recorded $1.02B in cumulative fees, while Ethereum realized $19.9B in cumulative fees during the past 30 days.
Dune Analytics data also showed that 89,669 coins had been launched on Pump.fun, which made it onto the Solana-based decentralized finance protocol Raydium. However, the platform charges a 1% transaction fee for the coins that launch until they reach a threshold.
Trump-themed memecoins on Solana fuel huge 30-day revenue on Pump.fun
Trump-themed memecoins led to a bump in Pump.fun’s 30-day revenue, reaching $116.72 million. Data from Dune Analytics showed that tokens from the launchpad recorded an all-time high of $3.3 billion in weekly trading volume. Pump.fun’s trading volume also soared past $544 million on January 23 alone, beating previous single-day records.
The surge began around January 18 after Trump revealed his own TRUMP memecoin, and it later skyrocketed with the release of the MELANIA token on the eve of his January 20 inauguration. The President’s token launch also triggered an explosion of tokens rushing to capitalize on the sudden surge in memecoin activity. Blockaid reported an increase from 3,300 to 6,800 cryptocurrencies with “Trump” in their name around the launch of the TRUMP memecoin.
Alon, founder of Pump.fun, also revealed that previous research found that bot activities fueled Solana’s trading metrics. He added that memecoin creators frequently leveraged the bots to inflate their token stats to lure investors.
Data from DefiLlama also showed that Pump.fun is on the brink of surpassing $500 million in cumulative revenue. The platform has drawn the attention of Burwick Law, which has threatened legal action on behalf of disgruntled investors. The law firm argued that memecoin rug pulls and speculative blowups on Pump.fun had caused devastating losses while the platform raked in massive fees.
“In the past few months, pumpdotfun has collected hundreds of millions of dollars in fees while illicit drug use…and other antisocial acts were displayed on the platform. The creator of this platform has chosen to remain anonymous, despite acknowledging the importance of transparency and retail engagement, which raises serious concerns about accountability.”
– Burwick Law
The memcoin launchpad platform was also pushed to dismantle its livestream feature, which morphed into a hotbed for freakshows and shock tactics. Memecoin promoters took advantage of the platform’s livestream feature to display graphic stunts such as self-harm, animal abuse, antisemitism, and racial slurs content in efforts to spike token prices and reel in investors.
Dune analyst Adam Tehc argued that Burwick’s client base for the legal action could be in the millions since only 0.4% of Pump.fun wallets realized a $10K profit.
In December, The UK’s Financial Conduct Authority banned its citizens from engaging with Pump.fun as part of a measure to curb scams.
Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews – FREE Cheat Sheet
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.