Pump.fun Acquires $15M in Tokens in Two Weeks

Pump.fun's on-chain economy is thriving even as broader DEX activity on Solana declines. Over the past two weeks, the Solana memecoin launchpad repurchased approximately $15 million of its native token, PUMP, with the coin's market capitalization now exceeding $1 billion, according to data from The Block. In the last 30 days, the token's price has spiked over 32%, currently trading at $0.0032. This price surge follows weeks of repurchases funded by fees, which have so far been conducted at an average of over 40% above the spot prices as reported in mid-August. Recent buybacks and rising prices have bridged this gap to nearly 20%, reducing the average purchase cost from $0.0058 to approximately $0.003841, as highlighted by Dune Analytics. Current market prices remain about 20% lower than the $0.004 ICO price of PUMP and over 52% below the previous peak on July 16. Since August 6, daily platform revenue has consistently surpassed $1 million, with launchpad trading volumes hitting $210 million in just one day, as shown by The Block's data. Pump.fun has dominated the Solana launchpad token sector, accounting for roughly 86% of token graduations, reaffirming its leadership following a brief challenge from competitors such as LetsBonk. Additionally, the platform exceeded $800 million in lifetime revenue last week. However, while Pump.fun experiences growth in several areas, Solana's overall DEX participation is waning. Daily DEX users across the Solana ecosystem have fallen below one million for three consecutive days—the first occurrence in months. This divergence points to an increasing concentration of memecoin activity and fees within Pump.fun, amidst a decline in broader DeFi utilization on Solana. Disclaimer: The Block is an autonomous media platform that provides news, research, and data insights. Foresight Ventures has invested in The Block as of November 2023, and also invests in various companies in the crypto sector. Bitget serves as a key LP for Foresight Ventures. The Block operates independently to provide accurate, impactful, and timely information on the cryptocurrency industry. Current financial disclosures can be found on our website. © 2025 The Block. All rights reserved. This article is for informational purposes only and does not constitute legal, tax, investment, financial, or other professional advice.