Key Takeaway:
- Memecoin launchpad Pump.fun sells Solana tokens as prices decline in the market.
- Pump.fun sold 10.3k SOL tokens at an average price of $134.46, totaling $1.38 million.
- The platform currently holds 303,852 SOL and over $45.2 million in other crypto tokens, totaling $84.8 million in revenue.
- Pump.fun faces competition from SunPump, leading to decreased activity and user profits.
Memecoin Launchpad Pump.fun Sells Solana Tokens
Amid a market downturn, Pump.fun has sold 10,300 SOL tokens at an average price of $134.46, netting $1.38 million. The platform’s total sales now amount to 264,373 SOL, valued at approximately $41.64 million.
Competition Impacts Pump.fun’s Activity
Since its launch, Pump.fun gained significant popularity but faces competition from SunPump on Tron. This competition has led to decreased activity and volume, with most tokens struggling to gain traction. Only a small percentage of users have been able to turn profits from the platform.
Pump.fun’s Revenue Milestones and Challenges
Pump.fun achieved rapid growth, reaching $30 million in revenue by June this year. However, new competition has posed challenges, resulting in reduced activity and profit margins for users.
