Pump.fun, the Solana-based meme coin launching sensation, is having a rollercoaster ride of success and intrigue. Since its birth, this platform has raked in a jaw-dropping $162 million in revenue! Talk about making it rain in the crypto world.
But here's the kicker: Pump.fun has been making waves by unloading loads of SOL tokens. Just recently, the Fee Account of Pump.fun decided to part ways with another 40,000 SOL, pocketing a cool $6.68 million. This move sent the rumor mill into overdrive, leaving folks wondering about the ripple effects on the market. The SOL price did a quick cha-cha, dipping to $163 before bouncing back up to $166.
Lookonchain, the detective in this crypto drama, unveiled that Pump.fun has churned out a whopping 969,945 SOL in total revenue. That's a staggering $162 million from selling 503,343 SOL at an average price of $156.4. It's safe to say that Pump.fun is riding high on the meme coin wave, milking the Solana ecosystem for all its worth.
Since January, Pump.fun has minted over 2.5 million Solana tokens, raking in $140 million in fees. But wait, there's more! During a Twitter Spaces event, the Pump.fun team dropped hints about a trading bot and teased a potential token launch with an airdrop that could send crypto enthusiasts into a tizzy. They also unveiled Pump Advanced, a trading terminal set to rival big names like Photon and Bull X.
One of the mysterious minds behind Pump.fun, known only as Sapijiju, kept us on the edge of our seats by saying, “We're cooking up a token launch, but I'm not spilling the beans on when. And if we do an airdrop, it's going to be a blockbuster!”
Initially, Pump.fun charged a $7 SOL fee for token creation, but in a plot twist, they scrapped this fee in August and rolled out rewards for developers. Now, if you create a token that hits a certain market cap, you're in for a 0.5 SOL treat. This move has been a game-changer, propelling Pump.fun's phenomenal growth.
Despite its triumphs, Pump.fun hasn't been without its bumps in the road. In May, a rogue ex-employee pulled a fast one, swiping 12,300 SOL, which was worth about $1.9 million at the time. And when competition from Tron-based SunPump heated up, token deployment numbers took a hit, but they've since bounced back stronger than ever.
So there you have it, the wild ride of Pump.fun continues, and it's a story you don't want to miss as it unfolds in the crypto world!
