Pump.fun, the token launchpad for Solana’s network, has accounted for 70% of transactions in the last two days. This is its most dominant Saturday since it removed the platform’s controversial streaming function in November.
In the last week, Solana has gained 12%. In part, the upward trajectory was fueled by meme coin trenches. Pump.fun, the most popular platform for creating meme coins, purchasing them, and then selling them, has created over 5.5 Million tokens in its first year.
Dune reported that on Sunday Pump.fun created 69.5% and 71.1 % of the tokens generated on Solana. The protocol is gaining popularity because of its low barrier to entry. Users can create tokens in just minutes, even without technical or financial skills.
Other projects have replicated its success. Moonshot, a project created by the popular crypto website DEX Screener and launched in June, is an example. However, it did not have much of an impact. Moonshot launched only more than 1,000 coins per day two times in December. Pump.fun, on the other hand, launched 45,000 tokens in just 24 hours.
With this, Pump.fun has accounted for 56.2% of all transactions on Solana decentralized exchanges so far this month—despite only 1.21% of its created tokens hitting the threshold that gets them listed on decentralized exchanges.
Pumpfun has created 5,000,000 tokens.
Four hundred and twenty-seven companies have a market capitalization of more than $1 million.
That's 1 in 11,719.
(or 0.0085%) https://t.co/jwyhzGYUGH— Adam (@Adam_Tehc) December 27, 2024
The Pump.fun platform has always been dominant. Dune data shows that Pump.fun recorded a 70% share of SPL Tokens launched on Solana in November, when its livestreaming function was a hit.
The livestream meta saw degens open their cameras and perform crazy stunts such as shooting out a gun from their window, beheading an animal, or even faking a suicide to earn money. Despite the fact that this helped Pump.fun Solana reach an all-time dominance of 75.5% it was ultimately too much and they removed livestreaming.
The platform’s dominance then retracted to 53% by December 17, spending most of the month in the 60s—momentarily hitting 71% on December 27.
In recent years, with its origins in degeneracy and recklessness, Pump.fun is now the birthplace of the most advanced artificial intelligence. AI agents are creating tokens for the platform to help brand it, raise funds and reach out to a larger audience.
The launchpad has continued to be successful even after the livestreaming feature was removed. According to DefiLlama’s figures, the launchpad has generated more revenue than Tron (TRX), and Bitcoin (BTC) layer-1 networks.
Stacy Elliott is the editor.