#ChartoftheDay According to Defillama, Solana-based #memecoin🚀🚀🚀 launchpad Pump.fun surpassed the Ethereum blockchain in daily revenue on Tuesday with $1.99 million, outperforming Ethereum’s $1.91 million. The platform’s cumulative revenue has reached $54.16 million since its launch in January.

Pump.fun allows users to launch memecoins in literally a few minutes, with a cost as low as 0.02 SOL. By simply picking a name, ticker, and JPG image, you are ready to deploy a token and instantly begin trading it on a bonding curve. Users can select a token, buy it on the bonding curve, and sell it whenever they like. A bonding curve is a mathematical curve that determines the price of a token based on its supply. The price typically increases as more tokens are purchased.

When a token’s market capitalization reaches $69,000, $12,000 of liquidity is deposited to the #Solana_Blockchain 's decentralized exchange Raydium and burned.

After migrating to Raydium, the token can then be bought either through Raydium, or via their preferred Telegram bots and Web-app terminals.

Pump.fun lowers the barrier to entry for token launching, leading to a proliferation of new tokens on Solana. According to Dune Analytics, there are currently over 120 million tokens deployed on Pump.fun, with about 10,000 tokens being deployed every day on average.