SecondLane announced acquiring a 1% equity stake in Pump.fun, valued at $1.5 billion, highlighting growing interest in meme coins.
Details of the SecondLane and Pump.fun Deal
SecondLane acquired a 1% equity stake in the Solana-based meme coin ecosystem Pump.fun for $15 million. The deal was announced via a Telegram channel introducing SecondLane's new offerings. Although Pump.fun has not yet launched its native token, it continues to attract equity investments from investors like Alliance DAO, Big Brain Holdings, and 6th Man Ventures.
Pump.fun's Financial Success
According to DefiLlama, Pump.fun ranks among the top ten highest-earning blockchain protocols, alongside giants like Circle and Uniswap. From October to date, Pump.fun has generated around $86 million in fee revenue, accumulating over $225 million cumulatively.
Meme Coins' Popularity and Investor Opinions
Despite their popularity, meme coins evoke mixed feelings among crypto enthusiasts. Some argue they undermine crypto's legitimacy by emphasizing speculation, while others suggest they hold little value for investors as a form of speculative gambling.
SecondLane's stake in Pump.fun emphasizes the potential of meme coins in the crypto industry despite varying expert opinions.
