- In November, Pump.fun, a company based in Solana that allows users to create and trade memecoins, achieved a record-breaking monthly income of about $93 million.
According to DefiLlama data, the Solana-based memecoin creation and trading network Pump.fun reached an all-time high of almost $93 million in monthly revenue in November.
This sum represents a 207% increase over the October total, which was a record-breaking $30.5 million. At the same time, its total income is $240 million.
A two-month revenue decline in August and September, with monthly average declines of 29%, was reversed by the good performance in October and November. This recovery points to a resurgence of platform activity and investor interest.
Dune Analytics data shows that more than 4.2 million memecoins have been deployed using pump.fun thus far.
Growth of the Pump.fun ecosystem and market performance
The entire market valuation of tokens issued through Pump.fun is currently $6.63 billion, down 2.9% in the last day, according to CoinGecko. A number of tokens have made remarkable increases in spite of the brief decline.
Memecoins like Peanut the Squirrel have experienced tremendous growth, increasing by 10% in the last day and by an astounding 900% in the last month. In a same vein, Moondeng has gained over 285% in the previous month and skyrocketed by 99% in the last day. According to CoinGecko, Act I: The AI Prophecy has experienced a phenomenal 3,500% increase in value over the last 30 days, placing it at the top of the performance rankings in terms of monthly gains.
Pump.fun recently made a significant announcement for the well-known protocol amid increasing platform revenue by announcing a new enhanced trading terminal and hinting at an impending token launch in an X space in mid-October.
The protocol’s creators revealed “pump advanced,” a trading terminal with sophisticated capabilities for power users, coupled with the announcement that Pump.fun is “planning to launch a token in the future.”
Charts, top holder statistics, sophisticated filters, live-updating threads, and other features aimed for pump.fun heavy users are all included in the main page of Pump Advanced. Users can also use non-custodial wallets on the website by authenticating in using the Privy authentication platform.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
