Pump.fun, representing the memecoin wave on Solana, is experiencing significant revenue and activity decline amidst a general reduction of interest in cryptocurrencies.
Pump.fun Revenue Decline
In July 2025, Pump.fun reported a drop in monthly revenue to $24.96 million, representing an 80% decline from $130 million in January. Data indicates that despite a high Total Value Locked (TVL) of $190.57 million, there is a drastic reduction in actual platform activity.
Decline in Crypto Trader Activity
The number of active traders on the platform plunged by 62%, indicating growing dissatisfaction among the crypto community. Meanwhile, competing platform LetsBonk is drawing in more users, generating up to $1.04 million per day, twice the revenue of its rival.
Overall Memecoin Sector Crisis
The entire memecoin sector is also showing signs of slowdown: total market capitalization dropped from $85 billion to $65 billion, while daily crypto transaction volumes contracted by 67%. This reflects a decline in user engagement and a possible saturation of the speculative model.
The revenue decline of Pump.fun and the overall decrease of interest in memecoins raise questions about the sustainability of platforms based on speculation. As the market changes, future platforms must reassess their value proposition.
