🌎 Solana-Based Pump.fun Hits $188.5 Million in Revenue

Solana-Based Token Deployer Pump.fun Surpasses $1 Million in Total Revenue

Pump.fun, a Solana-based token deployment platform, has achieved a significant milestone, surpassing 1 million Solana in total revenue. This figure, valued at approximately $188.5 million, brings the platform close to the $200 million revenue mark. Launched in January, Pump.fun has demonstrated rapid growth, reaching the $100 million milestone last month in just 217 days.

Rapid Growth and Revenue Milestones

Pump.fun’s revenue surge has been noteworthy, making it the fastest application in the cryptocurrency sector to hit $100 million in revenue. Since then, the platform’s revenue has grown by an additional $88 million. Two primary factors have driven this recent growth spike: an increase in Pump.fun’s Solana holdings and the rising price of Solana itself.

Despite selling 264,373 SOL as of early September, Pump.fun has retained a significant portion of its SOL holdings. The broader crypto market’s rebound, coupled with Bitcoin’s rise toward $73,000, has also triggered a surge in Solana’s value, bringing Pump.fun’s total revenue closer to $200 million.

Growth in the Pump.fun Ecosystem

The Pump.fun ecosystem is experiencing substantial growth. The market cap of meme coins created within the ecosystem has risen by 8.8% in the past 24 hours, reaching a combined value of $2.31 billion. Leading this growth is Goatseus Maximus, the ecosystem’s largest token, with a valuation of $620 million, accounting for 26.8% of the total market cap.

Other significant players include Fwog (FWOG), with a market cap of $262.29 million, and Moo Deng (MOODENG), valued at $223 million. This growth reflects increased interest and activity within the Pump.fun ecosystem.

Increase in Transaction Volume

Pump.fun’s daily transaction volume has also seen a substantial increase. As of October 26, the daily transaction count had dropped to a two-week low of 21,137. However, it quickly recovered as interest spiked due to the broader market recovery. The total transactions surged to 34,462 yesterday, the highest in five days, bringing Pump.fun’s total transaction count to 2.82 million.