Pump.fun Generates $18.64 Million Despite Memecoin Decline

Pump.fun generated $18.64 million in crypto protocol revenue over seven days, according to DefiLlama. A study by Coin Metrics indicates that 81% of the 150 analyzed memecoins have lost at least 90% of their value since their peak. The platform, which charges fees on each transaction, retains about one-third of these fees. In total, traders have paid $52.5 million in fees, allowing Pump.fun to maintain its revenue even during a downturn in memecoins. From September 28 to October 4, Pump.fun reported $16.32 million in fees, marking a 20% increase in one week. New tokens can redistribute their fees to holders, but this does not necessarily offset the decline in token value. The platform allocates 50% of its revenue to buybacks and the destruction of its PUMP token. Therefore, Pump.fun's revenue is linked to trader activity rather than the valuation of existing tokens.

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