Monthly Earnings of Pump.fun Skyrocket to a Staggering $93 Million
Pump.fun, a popular meme-token platform based on the Solana blockchain, has made headlines after generating a record-breaking revenue of $93 million in November. This figure, determined using data from DeFiLlama, represents a staggering 208% increase compared to the platform's revenue in October.
The surge in revenue can be attributed to several factors, one of which is the introduction of the Pump Advanced trading terminal in October. This tool, designed for experienced traders, has likely attracted a larger user base and increased trading activity on the platform.
However, the platform experienced a setback towards the end of November when the streaming feature was temporarily disabled. This move led to a one-third decline in Pump.fun's revenue. Despite this temporary dip, the platform's cumulative revenue now stands at an impressive $247 million.
The team behind Pump.fun remains undisclosed in the available search results. In October, they also announced plans to launch a native token, adding another layer of excitement to the platform's future prospects.
The total market capitalization of tokens generated through Pump.fun, as reported by CoinGecko, currently exceeds $6.5 billion. This figure underscores the platform's significant impact on the cryptocurrency market.
As we move forward, it will be interesting to see how Pump.fun navigates the challenges and continues to grow, maintaining its position as a leading meme-token platform on the Solana blockchain.
