Solana-based memecoin launchpad Pump.fun has kicked off 2025 with a major milestone, raising over $14 million in revenue on Jan. 2 as the memecoin market experiences a new bull cycle.
On Thursday (2), the platform generated 72,506 SOL in fees, which is equivalent to more than $14 million, as Solana is trading above $200. Tokens in the Pump.fun ecosystem are also seeing significant increases, with memecoins such as GOAT, MOODENG and CHILLGUY rising more than 10% on the day.
Pump.fun grows with record revenue
The $14 million mark marked Pump.fun's highest daily revenue since its launch. Despite criticism and challenges throughout 2024, Pump.fun has apparently become the platform of choice for memecoin creators.
Pump.fun Revenue Chart. Source: Dune Analytics.
Additionally, the platform maintained its dominance in Solana’s decentralized exchange (DEX) transactions. Pump.fun accounted for 52.8% of all Solana DEX transactions in December, based on data from Dune Analytics.
Solana DEX Monthly Transactions. Source: Dune Analytics
Data from Lookonchain further showed that Pump.fun transferred 292,437 SOL tokens, valued at over $55 million, to Kraken on Jan. 2. It appears that the platform is attempting to capitalize on SOL’s bullish momentum to turn a profit.
So far, the platform has deposited 1.5 million SOL tokens into Kraken, with 71,356 SOL tokens remaining in its holdings.
Pump.fun’s Record Revenue and the Memecoin Market
Since its launch in early 2024, Pump.fun has seen some major success with Solana memecoins like PNUT, GOAT, and FARTCOIN. These projects have seen some of the biggest gains in 2024, although extreme volatility has been persistent.
While the crypto market has seen sell-offs in recent weeks, it appears that traders are viewing the new year as an entry point. The surge in revenues from Pump.fun suggests growing interest and activity in the memecoin space. The platform’s millions in revenue reflect a strong demand for memecoins among traders.
Meanwhile, tokens in the Pump.fun ecosystem saw notable increases today, according to data from CoinGecko. Fartcoin is up more than 45% on the day, reaching an all-time high of $1.45. The total market cap of Pump.fun tokens has surpassed $9.5 billion.
Weekly Fartcoin Price Chart. Source: TradingView
Challenges and controversies involving Pump.fun: trust and engagement at play
Pump.fun’s dominance also suggests that traders still trust the platform despite the challenges of the past year.
For example, on December 3, 2024, the UK FCA released a statement announcing that Pump.fun is not authorized to target users from the UK. Following this notice, the platform restricted all services in the UK. The website itself is now inaccessible in the country.
Additionally, the platform’s live streaming feature has received criticism after users broadcasted extreme and harmful activities. One notable incident involved a developer promoting self-harm if his cryptocurrency reached a market value of $25 million.
Separately, in November, it was reported that nearly 90% of users who traded memecoins released by Pump.fun either lost their investment or made less than $100 in profit.
Despite these criticisms and challenges, the platform continues to see an increase in engagement due to its unparalleled accessibility to create and launch memecoins.
The article Pump fun starts 2025 with record $14 million in revenue was first seen on BeInCrypto Brasil.
