Pump.fun Overtakes Ethereum: Daily Income Reaches $2 Million

Bittime - Pump.fun sets a record with $2 million in daily revenue, surpassing Ethereum. The platform has generated a total of $50.9 million and is projected to exceed its annual goal of $66 million before the end of the year.

Pump.fun Overtakes Ethereum: Daily Income Reaches $2 Million

Over the past 24 hours, launchpad token Pump.fun saw a daily revenue increase of $2 million, surpassing Ethereum's revenue of $1.91 million and becoming the largest revenue generator of any blockchain, according to DefiLlama data. 

This celebrity-inspired meme coin apparently succeeded in increasing the protocol's revenue on the Ethereum blockchain for the first time.

Pump.fun Reaches Annual Revenue Target

Data from Dune Analytics shows that 11,528 tokens were sent on Monday, adding to the total of 1,199,685. Currently, the platform has generated a total of $50.9 million. 

Pump.fun reached its annual revenue target of $66 million in March; if current operations continue, this figure will be exceeded before the year ends.

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Pump.fun Used to Attract Attention 

When the likes of Caitlyn Jenner, Iggy Azalea, Trippie Redd, and Davido set up meme coins on Solana in late May, the story of celebrity-themed meme coins began.

Crypto natives have capitalized on this trend by creating tokens on Pump.fun to attract viral attention.

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Pump.fun is Relatively Cheap Compared to Ethereum

It's important to note that Solana, which is the basis of the Pump.fun blockchain, is relatively cheap compared to Ethereum. Therefore, criminals can create tokens and perform rug pulls at lower prices than Ethereum.

Conclusion

Pump.fun sets a record with $2 million in daily revenue, surpassing Ethereum. With total revenue of $50.9 million, it is projected to surpass its annual goal of $66 million before the end of the year. Celebrities like Caitlyn Jenner and Iggy Azalea have become more famous thanks to their meme coins. Despite the risk of fraud, Solana-based platforms allow the creation of tokens at lower prices than Ethereum. This success shows that meme coins have great potential to generate huge revenues.

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