Pump.fun Surpasses Ethereum with $2M daily revenue, Claims top spot!

With its massive meme coin popularity and impressive revenue, Pump.fun has been a reliable and successful platform. As a Solana-based Meme Coin Launchpad, it allows crypto users to create meme coins at a low cost. On Monday, July 1st, Pump.fun made a revenue of $1.99 Million, surpassing Ethereum’s $1.91 Million revenue, making the total revenue of Pump.fun over $55 Million. This financial success has recently seen pump.fun surpasses the daily revenue of major blockchains like Ethereum, Tron, and Solana.

How does Pump.fun work?

Firstly, you visit pump.fun’s website, connect a Solana-compatible wallet like Phantom or Solflare, and make sure you have enough SOL tokens for the fees.

To create a Meme Coin on Pump.fun:

1. Click the “Start a new coin” option on the main screen. 
2. Enter the token’s name, ticker symbol, description, and image. Optional features include providing the token’s Twitter, Telegram, and website links.
3. Additionally, you need to pay a 0.02 SOL fee to launch the token.

To buy a Meme Coin on Pump.fun:

1. Newly created tokens on Pump.fun are immediately available for trading.
2. You can buy the tokens on the platform by adjusting the price on the bonding curve.
3. Sell your tokens whenever you want to lock in profits or losses.
4. When a token’s market cap reaches $69k, liquidity is added to Raydium to enhance stability and trust.

Notable Tokens on Pump.fun

1. BoaBoaSol(BAOS): 

The very first token on pump.fun to transition into the liquidity pool of Raydium after reaching a markey cap of $69K.

2. Shark Cat(SC):

The Shark Cat(SC) token quickly gained attraction on pump.fun reaching a $100 Million market cap after its launch.

3. Billy(BILLY):

Billy has surpassed a $160 Million market cap recently, becoming one of the largest tokens launched on pump.fun.

Pump.fun generates revenue through several mechanisms:

1. Trading Fees: It charges a 1% fee on the meme coin trades conducted on the platform.
2. Market Cap Fees: If a token’s market cap exceeds $69K, Pump.fun collects a fee of 2 SOL for listing the token on Raydium a decentralized exchange.
3. Token launch Fees: Pump.fun charges a 0.02 SOL fees for creating and launching a token on its platform.

Through these revenue mechanisms Pump.fun has generated such high revenue, surpassing major blockchains in the market.

Revenue Generated

Pump.fun has generated a daily revenue of $1.99 Million nearly $2 Millon on 1st July, 2024. To this date the total revenue of Pump.fun sums up to a total of $72.03 Million. It started generating revenue since March 2024, nearly half of it’s revenue being generated in the month of June which sums up to $22.5 Million.

In first few four days of July Pump.fun had already generated $8.8 Millon revenue, hopefully it will surpass June’s record of $22.5 Million revenue and achieve $30 Million by month end.

Conclusion

Pump.fun has totally changed the process of token creation and trading thanks to it’s fair launch approach and user friendly features, making it shine in the crypto world. 

If the same continues for Pump.fun, it is destined to reach great heights and make a place for itself in the top competitors of the crypto space.