Pump.fun's Revenue Milestone: Memecoin Platform Outperforms Ethereum in 24-Hour Revenue

Pump.fun has outperformed Ethereum in 24-hour revenue, collecting $864,000 compared to Ethereum's $550,000, as per DefiLlama.

Pump.fun, a Solana-based memecoin platform, has outperformed Ethereum in terms of 24-hour revenue, according to data from DefiLlama.

On July 29, Pump.fun had generated nearly $864,000 in revenue, compared to Ethereum's $550,000 during the same period. This marks a significant achievement for the memecoin platform, which has seen its revenue briefly surpass Ethereum's on several occasions.

Earlier, on June 30, Pump.fun's revenue reached almost $2 million, slightly exceeding Ethereum's $1.91 million for the day, as reported by Cointelegraph.

The surging popularity of memecoins on Pump.fun's native layer-1 blockchain, Solana, has played a crucial role in its unprecedented success. According to DefiLlama, Solana's total fee income amounts to nearly $75 million.

Pump.fun ranks third in 24-hour revenue, behind Solana (first with $1.7 million) and Tron (second with $900,000), while Ethereum follows in fourth place.

Despite having the largest layer-1 smart contract platform with nearly $60 billion in total value locked (TVL) and gas fees totaling roughly $1.6 million in the past 24 hours, DefiLlama's revenue figures for Ethereum only include burned Ether (ETH) tokens.

CoinGecko data reveals that memecoins have now attained a market valuation of over $53 billion, largely driven by speculative investment and venture capital.

Coinranking reports that the market capitalization of Bonk (BONK), a dog-themed Solana memecoin, has surged past $1 billion, fueled by a trading volume increase of almost 8,000% over the last year.

Pump.fun boasts of offering an effortless experience, enabling users to "launch a coin that is instantly tradeable for under $2 with a single click."

As stated on the X account information from the platform, “Pump.fun is a memecoin factory on Solana. It takes less than a minute to launch a coin, and all it takes is a single click to launch a coin that is instantly tradeable for under $2. X account was launched on Pump.fun on July 23 and has since gathered over 1,000 holders and liquidity of almost $100,000.”

Recently, several celebrities, including Caitlyn Jenner, Iggy Azalea, and Rich The Kid, have launched their memecoins on the platform.

The above is the detailed content of Pump.fun's Revenue Milestone: Memecoin Platform Outperforms Ethereum in 24-Hour Revenue. For more information, please follow other related articles on the PHP Chinese website!