- Pump.fun’s monthly revenue hit $93M in November, reflecting a 207% growth.
- The platform suspended its livestream feature amid concerns over harmful content.
The memecoin market has experienced a remarkable resurgence in 2024, with platforms like Solana [SOL]-based Pump.fun leading the charge.
According to DefiLlama, Pump.fun’s monthly revenue soared to an impressive $93 million in November, marking a 207% increase from October’s $30.5 million—a figure that was itself a record.
This rebound follows a challenging period in August and September when the platform’s revenues dropped by an average of 29% each month.
Pump.fun growth statistics analyzed
As of the latest update, Pump. fun’s activity continues to make waves in the crypto market, as the Solana-based memecoin platform has deployed over 4.2 million memecoins, according to Dune Analytics.
Despite recent declines in SOL’s price, Pump.fun has demonstrated significant liquidity movements.
Data from Lookonchain reveals a recent deposit of 65,000 SOL tokens, valued at $15.23 million, to Kraken. This brings the platform’s total deposits to Kraken to 798,869 SOL, worth approximately $154 million.
Additionally, Pump.fun has sold 264,373 SOL, converting it into 41.64 million USDC.
For those unaware, since its inception, the platform has amassed a staggering 1,526,937 SOL, equating to $362 million, reflecting its dominance and profitability in the memecoin sector.
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Author: Ishika Kumari
