Pump.fun continues to surprise the crypto world. In July 2024, it set a new record by earning $28.7M. This milestone highlights the growing interest in Solana-based memecoins and demonstrates Pump.fun's potential in the cryptocurrency world.
Pump.fun's Record Income in July
Pump.fun set a new record by earning $28.7M, merely two weeks after surpassing Ethereum's 24-hour revenue. On July 29, Pump.fun generated $864,000, outpacing Ethereum's $550,000. This accomplishment underscores the platform's influence and the increasing interest of retail investors in Solana-based assets.
Factors Contributing to Success
Pump.fun's success can be largely attributed to the growing interest in memecoins, particularly those on the Solana blockchain. Known for its fast and low-cost transactions, Solana has become a hub for innovative and trending memecoins. This environment has fostered the rise of popular tokens, contributing to the platform's significant income figures.
Celebrity Influence and Memecoins
One of the key drivers of memecoin popularity on Pump.fun is celebrity involvement. Recently, high-profile figures like Caitlyn Jenner, Iggy Azalea, and Rich The Kid launched their tokens on the platform, further boosting its visibility and appeal.
These factors continue to drive the rising income and popularity of Pump.fun in the crypto market.
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