Pump.fun Surpasses $1 Billion in Revenue Amid Flat Token Price

Pump.fun, the Solana-based launchpad platform for meme coins, has achieved significant revenue milestones despite its token price remaining stagnant. According to data from DeFiLlama, Pump.fun generated $1.14 million in 24-hour revenue and over $39 million in 30-day revenue, ranking it among the top revenue-generating projects in the crypto market.

The platform's cumulative revenue has officially surpassed $1 billion by March, with a steady increase in SOL revenue since February last year. Pump.fun allocates almost all its revenue to buybacks, repurchasing over 106 billion PUMP tokens, accounting for 30% of the circulating supply.

However, the token's price has not reflected this strong buying pressure, leaving investors puzzled. Retail investor sentiment remains cautious due to negative market conditions and macroeconomic data. Nevertheless, top addresses continue to accumulate PUMP, with the top 100 wallet addresses increasing their holdings by over 4.6% since the beginning of the year.