PumpFun Sells Over $6M Worth of Solana’s SOL

PumpFun, a Solana-based memecoin launchpad platform, is on a selling spree.

This brought the platform’s total sales to 503,343 SOL, worth approximately $78.7 million, when calculated using an average price of $156.4 per token.

Since its inception on DATE, PumpFun has generated 985,654 SOL in revenue, equating to roughly $164 million, making it one of the most profitable platforms in the Solana ecosystem this year.

This comes amid a wave of major announcements.

On Oct. 19, the PumpFun team announced the project will “definitely” launch a native token. PumpFun also launched "Pump Advance." The new platform has new features, including charts, statistics on its largest users, and other token filtering mechanisms.

On Oct. 22, the platform introduced the ability for users to tokenize videos. These videos are linked to tokens. Still, the videos themselves are not stored on-chain — only thumbnails are, according to the platform.

Token Creation Hits All-Time High

PumpFun has also been breaking records with its token creation numbers.

On Oct. 22, the platform recorded its highest-ever token creation day, with 34,094 tokens created, surpassing the previous record of 31,611 tokens set on Oct. 19, according to Dune Analytics.

PumpFun uses a bonding curve model to create and trade meme coins. When a token’s market cap hits $69,000 or its pool value reaches 86 SOL, the platform automatically adds liquidity to Raydium, a decentralized exchange (DEX). However, 98.5% of the memecoins launched on PumpFun never make it onto DEXs like Raydium.

On Oct. 22, 529 tokens from PumpFun were listed on Raydium, marking the second-highest number of tokens deployed in a single day. The highest record was set on May 16, with 188 tokens listed. As of today, more than 36,000 tokens from PumpFun have been deployed to Raydium.

Transaction Volume

PumpFun hit another milestone on Oct. 22, with transaction volumes reaching an all-time high of 15 million transactions, surpassing the previous record of 13.6 million set on Oct. 18.

The platform’s daily revenue also hit over $2 million on Oct. 23, marking the fourth time it has crossed this threshold. Previous milestones were achieved on October 14, October 1, and the highest-ever daily revenue of $2.4 million recorded on July 29.

On Oct. 19, the platform set a record for active users, with 92,140 users interacting with PumpFun in a single day. Notably, the same day, the platform also recorded its highest-ever volume of tokens created by users, with more tokens generated than unique addresses, signaling a growing trend of repeat users.