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Pump.Fun Records Unprecedented Daily Revenue
The world of memecoins is experiencing a boom like never before, with Solana-based tokens taking center stage throughout 2024. This momentum has continued into 2025, as evidenced by the remarkable performance of Solana’s launchpad, Pump.fun. On January 1st, 2025, Pump.fun shattered previous records, setting a new benchmark for daily revenue.
Last year, Pump.fun emerged as the leading platform for launching memecoins, streamlining the process of token creation and deployment. During the third quarter of 2024, this launchpad surpassed giants like Ethereum and other Solana protocols, effectively doubling the fees and revenue of most competing projects.
The unprecedented success of Pump.fun has attracted a slew of competitors, such as the Tron-based SunPump and the multi-chain platform GraFun. Despite facing a ban in the UK in December, Pump.fun’s performance remained robust, consistently recording daily revenues between $2 million and $3 million.
Since its inception, Pump.fun has been responsible for deploying approximately 5.39 million tokens and has generated over 2.02 million SOL in revenue, equating to $418.7 million at current market prices. As 2025 began, the Solana launchpad reached a new milestone, surpassing all previous records.
According to data from Dune Analytics, Pump.fun registered a staggering 72,506 SOL in daily revenue, approximately $15 million, on January 1st. This represents a significant 30% increase compared to the 55,000 SOL recorded in late November. Furthermore, Pump.fun maintained its dominance in Solana decentralized exchange (DEX) transactions, with 52.8% of all SOL DEX transactions in December being related to the platform.
Memecoin Frenzy Persists Amidst Criticism
While Pump.fun’s success is undeniable, it has not been without controversy. Towards the end of 2024, the platform faced criticism when users misused its Livestream feature to broadcast harmful content.
In late November, a wave of memecoins created using controversial prompts went viral, with the aim of quickly inflating their token value. This trend gained traction after a 12-year-old infamously livestreamed a “rug pull” on a memecoin. Despite the chaotic situation, Pump.fun recorded its highest revenue day, amassing 55,832 SOL, worth approximately $11 million, in a single day. The controversy led to a backlash from the crypto community and a temporary halt of the Livestream feature.
Additionally, on-chain data analysis firm Lookonchain reported significant transactions involving Pump.fun, noting that over 355,608 SOL were deposited to Kraken in one day. This brought the total tokens transferred to the exchange to 1,564,064 SOL, with 264,373 SOL sold for 41.64 million USDC. These transfers and sell-offs have sparked further criticism, drawing parallels between Pump.fun and the Ethereum Foundation.
The Ongoing Dominance of Memecoins in the Market
Despite the criticism, the memecoin narrative shows no signs of waning. The “Solana Meme” category on CoinGecko saw a 12.5% rise in market capitalization, reaching $20.9 billion in just 24 hours, indicating that this trend is set to continue. New entrants like ai16z (AI16Z) and Fartcoin (FARTCOIN) experienced impressive daily surges of 8.9% and 43.7%, respectively, reaching new all-time highs on January 2nd. These emerging tokens have quickly captured the sector’s attention, breaking into the top 10 memecoin list in record time.
Currently, Solana is trading at $206, as shown in the weekly chart. The burgeoning popularity of memecoins underscores the dynamic nature of the crypto market, where innovation and narrative continue to drive growth and investment.
