TL;DR
- Volume Milestone: Pump.fun hit $1.02 billion in daily trading volume, marking a dramatic resurgence during Solana’s memecoin rally and signaling renewed user engagement.
- Revenue Surge: A $97.4 million buyback campaign helped drive daily protocol revenue to $3.38 million, overtaking Hyperliquid and boosting PUMP’s price by 53.9%.
- Creator Focus: $4 million in rewards went to creators, while livestreaming features gained traction against platforms like Rumble and Kick.
Solana-based memecoin launchpad Pump.fun has surged back into the spotlight, recording over $1 billion in daily trading volume and eclipsing major DeFi platforms in protocol revenue. After months of decline, the platform’s aggressive buyback strategy and creator-focused incentives have reignited user activity, positioning the platform as a dominant force in the September memecoin rally.
Billion-Dollar Volume Surge
Pump.fun processed $942 million in trading volume on Sunday, followed by a spike to $1.02 billion on Monday, according to decentralized exchange Jupiter. This milestone coincided with a broader memecoin market rally, which saw total market capitalization reach $83 billion on Sunday before stabilizing above $80 billion the next day. The surge marks a significant rebound for Pump.fun, which had previously seen daily revenue plummet to just $206,059 on August 1.
Revenue Rebound and Buyback Impact
Pump.fun’s daily protocol revenue hit $3.38 million, surpassing perpetuals platform Hyperliquid’s $3.06 million and ranking third on DefiLlama behind Tether and Circle. The platform’s resurgence is largely attributed to its aggressive buyback program for its native token, PUMP. Since July, the launchpad has repurchased $97.4 million worth of PUMP, offsetting 6.67% of its circulating supply. The token’s price has surged 53.9% since the initiative began, now trading at $0.008354.
Creator Incentives and Livestreaming Push
Pump.fun has also leaned into creator engagement, paying out $4 million in rewards on Monday, with most funds going to first-time creators. The platform’s livestreaming feature has reportedly surpassed Rumble in average concurrent streams and is approaching 1% of Twitch’s market share and 10% of Kick’s, according to co-founder Alon. While these claims remain unverified by third-party data, they reflect Pump.fun’s ambition to expand beyond token launches.
Memecoin Sector Momentum
The Pump.fun breakout aligns with renewed enthusiasm across the memecoin sector. Dogecoin posted an 11% weekly gain despite delays in its ETF launch, while tokens like Memecore, Moo Deng, and DORA saw double-digit growth. Pump.fun’s record total value locked of $334 million on Sunday further underscores its growing influence in the DeFi space.
