Pump.fun Transfers 200K SOL to Kraken Amid Record Revenue
Advertising
- Pump.fun achieved $93M in revenue despite controversy and livestream content issues.
- Solana meme tokens like PNUT and CHILLGUY drive significant platform growth.
Pump.fun’s Fee Account transferred 100,000 SOL tokens, valued at approximately $23.66 million, to Kraken Deposit at 18:59 (UTC+8). This is the second significant transfer by the account in one day, bringing the total SOL transferred to Kraken within the past 24 hours to 200,000 SOL, worth around $47.17 million. This comes as the memecoin launchpad celebrates its highest monthly revenue to date.
In November, Pump.fun achieved a revenue of $93 million, marking its best month since launch. Despite a sharp revenue decline in the final week of November, the platform saw a significant increase in earnings earlier in the month.
Moreover, from November 18 to 24, Pump.Fun recorded $33.83 million in revenue, a 60% week-on-week rise. However, this growth slowed in the following week, with a 66% drop in revenue to $11.31 million, partly due to backlash over harmful content in livestreams.
Pump.fun Rise Vs Fall Phase
The memecoin launchpad, which has launched over 4.2 million meme tokens this year, has been a prominent player in the Solana ecosystem. Despite facing criticism for its role in facilitating pump-and-dump schemes and hosting livestreams with disturbing content, Pump.fun continues to attract a large user base. The platform responded to the issues by suspending its livestream feature in late November.
The popularity of Solana-based meme coins such as PNUT, CHILLGUY, and MOODENG has also contributed to Pump.Fun’s success. These tokens have seen substantial trading volumes, with a collective market cap of $6.4 billion. As the platform moves forward, it plans to launch new features, including a trading terminal and additional tokens, which could further shape its future in the market.
Highlighted News Of The Day
What Is Driving CRV 138% Surge This Week?
