Pump.fun Accumulates $294.3 Million in Fees, Surpassing Ethereum
Pump.fun, a meme coin launchpad on Solana, has outperformed Ethereum in fees over the past nine weeks.
- Pump.fun accumulated $294.3 million in fees year-to-date, exceeding Ethereum's $248.7 million.
- Total trading volume on Pump.fun reached $29.7 billion YTD.
- The platform has dominated Ethereum’s weekly fees since February 24.
- Daily active users increased by 18% to 156,200, while monthly users declined by 2.5% to 2.3 million wallets.
- Solana's transaction speed is currently 4,300 transactions per second with low fees of $0.0038.
- Token creators cannot allocate tokens directly to their wallets, ensuring a fair launch process.
- The anonymous creation of meme coins has led to an increase in fraudulent activities.
Pump.fun and Market Trends
- Pump.fun has decoupled from the broader cryptocurrency market amid recent corrections.
- Tokens launched on Pump.fun saw a 3.5% increase in cumulative market cap, surpassing $3 billion.
- The global crypto market capitalization declined by 1% to $2.95 trillion.
- Bitcoin corrected by 1.4% from a local high of $96,000, currently around $94,700.
- Market conditions are influenced by fear of missing out (FOMO) as Bitcoin approaches the $100,000 target.