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Pump.fun Flips Ethereum's Daily Network Revenue

The memecoin launcher is racking up the transaction fees.
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Jul 2, 2024 • 1 min read

Solana-based memecoin launchpad Pump.fun reached $1.99M revenue in the past 24 hours amid a surge in celebrity coin speculation, surpassing the Ethereum network's respective daily revenue of $1.91M.

What's the scoop?

  • Token Deployment: On Monday, 11.5K tokens were deployed on Pump.fun, bringing the total to 1.2M tokens, based on @cashack's Dune Analytics board.
  • Cumulative Revenue: Pump.fun's cumulative revenue stands at 346.6K SOL, or $51.3M.
  • Platform Popularity: The platform's ease of use and Solana’s low transaction fees have driven its popularity, leading to a surge in themed token creation.

Bankless Take:

While Pump.fun can be polarizing, its revenue and continued activity make the platform’s influence undeniable. Speculation seems to be one of crypto’s killer use cases, whether we like it or not, and Solana's low fees and fast transactions make a perfect environment for it.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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