Solana Memecoin Deployer Pump.fun Generates a Record $5.3 Million in Revenue in the Last 24 Hours

Pump.fun netted a total of $5.33 million in revenue in the last day, significantly outpacing established blockchain networks such as Ethereum and Solana

Solana memecoin deployer pump.fun generated a record $5.3 million in revenue in the last 24 hours, outpacing established blockchain networks and even surpassing the combined daily revenue of the next 24 protocols.

According to DefiLlama, pump.fun netted a total of $5.33 million in revenue in the last day, significantly outpacing protocols like Ethereum and Solana, which posted combined revenues and fees of $2.3 million and $1.6 million, respectively.

The token deployer, which has been generating buzz in the crypto community, even managed to outpace the combined revenue of the next 24 protocols within the same timeframe.

Pump.fun generates revenue by charging a 1% fee on all trades that occur on its platform.

The platform has come under fire from market pundits in recent weeks, with many accusing pump.fun of “killing” memecoins. The platform allows for a token creator to launch a new token for as low as $2.

Pump.fun has been leaning into these accusations, boasting that its platform launched 10,000 new coins in a three-hour timeframe during an X space conversation between former President Donald Trump and Elon Musk.

On Aug. 9, pump.fun announced that it would be rewarding token creators with a payment of 0.5 SOL — roughly $80 at current prices — if their tokens completed their bonding curve and were deployed on the Solana-based automated market maker Raydium.

The new incentive came following new data, which revealed that a staggering 98.6% of all tokens launched on pump.fun never completed the bonding curve process and failed to launch on Raydium.

Pump.fun was launched in January 2024 as an antidote to nefarious insider token launches.

Historically, memecoins have been launched by way of pre-sales and insider buying, where launch teams can conceal the number of tokens they have and unfairly manipulate the market. Pump.fun ensures that all of the data concerning tokens created on its platform is public and transparent, meaning that anyone can see the number of available tokens and who holds them.