Solana-Based Platform Breaks Record Thanks to Meme Coin Trend

Solana-based marketplace Pump.fun has surpassed the #Ethereum ecosystem for the first time thanks to the meme coin trend.

Meme coins supported by or designed for famous names have attracted great attention from investors in recent weeks.

Especially since the end of May, names such as Caitlyn Jenner, Iggy Azalea, Trippie Redd, Davido have been supporting Solana-based meme coin projects.

Pump.fun, which allows people to easily create their own tokens, generated $2 million in revenue in one day due to this trend. On the same day, $1.91 million in transaction fees were collected in Ethereum.

Solana-based Pump.fun thus became the platform that generates the most daily revenue among all blockchains and applications.

In March, it was estimated that Pump.fun would generate $66 million in annual revenue. However, the platform has already generated a total of $50.9 million in revenue. If this trend continues, it may exceed expectations.

With celebrities entering the market, the number of people creating their own tokens has increased. According to Dune Analytics data, 11,528 tokens were created on Pump.fun on Tuesday. Thus, the total number of tokens increased to 1,199,685.

Many people prefer Solana because it has lower transaction fees compared to #Ethereum