Pump.Fun Overtakes Ethereum With $2M in Daily Revenue to Take No. 1 Position
Celebrity-inspired meme coins have led to a surge in revenue for token launchpad Pump.fun, surpassing the Ethereum blockchain's revenue for the first time. Pump.fun generated $2 million in daily revenue, compared to Ethereum's $1.91 million, making it the highest revenue generator of any blockchain. Data shows that 11,528 tokens were deployed on Monday, bringing the total to 1,199,685. The platform's cumulative revenue has reached $50.9 million. In March, Pump.fun was projected to reach $66 million in annual revenue, a figure likely to be exceeded if current activity continues. The trend of celebrity-themed meme coins began in late May with celebrities like Caitlyn Jenner, Iggy Azalea, Trippie Redd, and Davido setting up meme coins on Solana. Crypto enthusiasts have been creating tokens on Pump.fun hoping for viral attention and value increase. Pump.fun is based on the Solana blockchain, which is cheaper than Ethereum, allowing for cheaper token creation and potential scams.
