Surge in Memecoin Market: Pump.fun Exceeds Hyperliquid in Daily Protocol Revenue
Pump.fun, a Solana-based memecoin launchpad, has surpassed Hyperliquid in daily protocol revenue, according to recent data from Defillama. This milestone comes as the memecoin trade continues to gain momentum in September, driven by a strong increase in market activities and token launches. The platform’s daily trading volume reached over $1.02 billion on Monday, compared to $942 million the day before, as reported by the decentralized exchange regulator Jupiter.
Key Highlights of Pump.fun’s Success
Some notable achievements of Pump.fun include:
- The platform’s total value locked (TVL) reached a record high of $334 million on Sunday, indicating a growing capital inflow into its smart contracts.
- Pump.fun took third place behind Tether and Circle in daily DeFi turnover, surpassing Hyperliquid for two consecutive days.
- The memecoin market capitalization rose to a 30-day high of $83 billion, reflecting strong retail interest and token launches.
- Pump.fun has extended into live streaming, paying $4 million to content creators, and is competing with platforms like Rumble and Kick.
Memecoin Market Rally and Pump.fun’s Breakout
The memecoin sector has experienced a significant rally, with the overall market capitalization reaching a 30-day high of $83 billion on Sunday. While the sector has slightly cooled to $76 billion at the time of writing, interest in meme tokens remains high. Pump.fun’s breakout underlines how quickly growing meme culture can disrupt both DeFi economy and web3 entertainment platforms, as it goes beyond speculation to create community-powered ecosystems.
Pump.fun’s Acquisition of Kolscan
In July, Pump.fun announced the acquisition of the on-chain tracking tool Kolscan to revolutionize trading with on-chain analytics. The integration will merge Kolscan’s analysis with Pump.fun’s social trading functions, improving transparency, letting pockets, and copy trading features. Co-founder Alon Cohen emphasized that trading is a “social sport” and highlighted the importance of community and shared knowledge in increasing success within the ecosystem. As part of the deal, all Kolscan services are made free for users.
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