Solana-based memecoin generation and trading platform Pump.fun hit an all-time high of over $$93 million in terms of monthly revenue in November, according to DefiLlama data.
This figure represents a 207% increase over October's total, which was an all-time high of $30.5 million. Meanwhile, its cumulative revenue stands at $240 million.
The strong performance in October and November reversed a two-month revenue decline seen in August and September, where revenues fell by an average of 29% each month. This rebound suggests renewed investor interest and activity on the platform.
So far, over 4.2 million memecoins have been deployed via pump.fun, according to data from Dune Analytics.
Pump.fun monthly revenue hit an all-time high in November. Image: DefiLlama.
According to CoinGecko, the total market capitalization of tokens launched through Pump.fun now stands at $6.63 billion, reflecting a 2.9% decrease over the past 24 hours. Despite the short-term dip, several tokens have shown impressive gains.
Memecoins such as Peanut the Squirrel have grown significantly, rising by 10% in the last 24 hours and achieving an impressive 900% increase over the past month. Similarly, Moondeng surged by 99% in the past day and has gained more than 285% over the last month. Leading the performance rankings in terms of monthly gains is Act I: The AI Prophecy, which recorded a remarkable 3,500% increase in value over the past 30 days, according to CoinGecko.
Amid rising platform revenue, Pump.fun recently announced a new advanced trading terminal and teased an upcoming token launch in an X space in mid-October, marking a major announcement for the popular protocol.
Pump.fun is "planning to launch a token in the future," the protocol's team announced alongside the reveal of "pump advanced," a trading terminal with advanced features for power users.
Pump advanced's main view includes charts, top holder stats, advanced filters, live-updating threads, and other features designed to appeal to heavy users of pump.fun. The site also allows users to utilize non-custodial wallets by logging in via authentication platform Privy.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.