crypto.news
Solana-based token deployer, Pump.fun, has achieved a major milestone with its total revenue surpassing 1 million Solana.
This figure, valued at around $188.5 million, brings Pump.fun close to claiming the $200 million revenue mark. Launched in January, the platform has seen rapid growth, reaching the $100 million milestone last month, in just 217 days.
As reported by crypto.news, this revenue surge made Pump.fun the fastest application in the crypto scene to claim a revenue of $100 million. Since then, revenue has grown by another $88 million.
The recent growth spike has been driven by two main factors: an increase in the Solana ($SOL) holdings of Pump.fun and the rising price of Solana itself. Pump.fun has retained much of its $SOL holdings despite having sold 264,373 $SOL as of early September.
Notably, amid the recent Bitcoin (BTC) upsurge toward $73,000, the broader crypto market’s rebound has triggered a surge in Solana’s value, bringing Pump.fun’s total revenue closer to $200 million.
Pump.fun ecosystem goes bullish
The Pump.fun ecosystem is also experiencing significant growth. The market cap of meme coins created within the ecosystem has risen by 8.8% in 24 hours, reaching a combined value of $2.31 billion, according to data from CoinGecko.
Leading this charge is Goatseus Maximus (GOAT), the ecosystem’s largest token, with a valuation of $620 million, accounting for 26.8% of the total market cap.
Other major players in the ecosystem include Fwog (FWOG), with a market cap of $262.29 million, and Moo Deng (MOODENG), valued at $223 million.
Meanwhile, Pump.fun’s daily transaction volume has also seen a substantial uptick. As of Oct. 26, the daily transaction count had slumped to a two-week low of 21,137. However, a recovery began immediately, as interest spiked due to the broader market recovery.
As a result, total transactions spiked to 34,462 yesterday—the highest in five days. This brought Pump.fun’s total transaction count to 2.82 million.