Pump.fun Hits $800 Million in Revenue Amid Competition

The Solana-based memecoin launchpad Pump.fun has exceeded $800 million in lifetime revenue, according to data from pseudonymous on-chain analyst @adam_tehc. The platform has accumulated fees totaling $800,668,932. Pump.fun generates revenue by applying a 1% swap fee on all token transactions on its platform. Previously, it charged a fee when tokens 'graduated' to Raydium after achieving a specific market capitalization, before launching its own decentralized exchange, PumpSwap. While Pump.fun initiated the memecoin craze last year, competition is intensifying from newer platforms like LetsBonk.fun, which launched in April 2025. LetsBonk has experienced significant growth, aided by its integration with Raydium's LaunchLab and backing from the Bonk memecoin community. Last month, LetsBonk overtook Pump.fun in the number of graduated tokens but Pump.fun has recently regained its lead, attributed to top memecoin deployers migrating from LetsBonk to Pump.fun. Currently, Pump.fun is generating a consistent daily revenue exceeding $1 million, while LetsBonk’s revenue has dropped from around $1 million to below $30,000 this month. Last month, Pump.fun launched its native token during an initial coin offering, raising an impressive $600 million in just 12 minutes. The platform is now executing a buyback of its token at a price significantly higher than market value to stabilize its price. In a related development, Solana has lost its status as the leading memecoin network to Coinbase’s Base platform. The newly launched Base App integrates a decentralized social media platform, Zora, which mints posts as ERC-20 tokens automatically. According to The Block's data dashboard, Base had 57,970 memecoins launched on Monday, whereas Solana had 32,760. Disclaimer: The Block is an independent media outlet providing news and data. As of November 2023, Foresight Ventures is the majority investor in The Block. Foresight Ventures invests in crypto companies. The Block functions independently to deliver objective information about the cryptocurrency market. These are our current financial disclosures. © 2025 The Block. All Rights Reserved. This article is for informational purposes only and should not be considered financial, legal, or investment advice.