A remarkable milestone has been achieved by Solana-based meme coin launchpad Pump.fun as it begins 2025. On January 2, the platform generated over $14 million in revenue, showcasing a booming meme coin market.
Thursday saw a significant surge with the platform accruing 72,506 SOL in fees, translating to over $14 million due to Solana's trading price above $200. This development coincides with significant gains in meme coins such as GOAT, MOODENG, and CHILLGUY, each rising by more than 10% for the day.
Pump.fun's record $14 million marks its strongest daily revenue performance since inception, amid lingering criticisms and challenges faced in 2024. It has emerged as the preferred platform for meme coin creators.
Maintaining a stronghold in Solana's decentralized exchange (DEX) transactions, Pump.fun accounted for 52.8% of Solana DEX transactions in December, according to data from Dune Analytics. Further analysis from Lookonchain revealed that Pump.fun transferred 292,437 SOL to Kraken, leveraging SOL's bullish trend to maximize returns.
As of now, 1.5 million SOL tokens have been deposited into Kraken, leaving 71,356 SOL with Pump.fun.
Since its inception in early 2024, Pump.fun has seen Solana meme coins like PNUT, GOAT, and FARTCOIN enjoy substantial success, despite the market's notorious volatility. In recent weeks, certain market liquidations haven't deterred traders from approaching the new year as an opportunity. Growing interest in the meme coin market is reflected in Pump.fun’s substantial revenue, indicating strong demand.
Today, Pump.fun ecosystem tokens saw considerable rallies. Data from CoinGecko reports that Fartcoin surged over 45%, attaining a new peak value of $1.45 and bringing Pump.fun's total market capitalization beyond $9.5 billion.
Despite challenges, Pump.fun remains a preferred choice among traders. A recent restriction saw the platform cease services in the UK following a cautionary notice from the UK’s FCA, which deemed Pump.fun unauthorized for activities targeting UK users.
Further controversy arose from a live stream feature that broadcasted harmful content, including a developer advocating self-harm linked to cryptocurrency market cap aspirations.
In November, it was reported that nearly 90% of those investing in meme coins via Pump.fun either suffered losses or earned negligible profits. Despite this, the platform's unique accessibility for meme coin creation and launch keeps user engagement high.