Solana-based memecoin platform Pump.fun saw its July revenue plummet to $24.96 million, down 80% from its January peak. Solana memecoin launchpad Pump.fun’s monthly revenue fell to a 2025 low in July, signaling a sharp drop in the memecoin creation sector after months of declining interest. According to data from DeFi analytics platform DefiLlama, Pump.fun generated $24.96 million in revenue last month, down 80% from its January peak of over $130 million. The platform’s revenue has steadily declined this year, decreasing to $90 million in February before plunging to $37 million in March, DefiLlama data shows. Read more
Pump.fun whales have sent over $160 million in tokens to exchanges as PUMP drops below its ICO price, triggering fears of a broader memecoin market correction. Private sale investors of the Pump.fun (PUMP) memecoin began offloading billions of tokens to exchanges, raising concerns of a sell-off as the token dropped below its initial sale value. Blockchain analytics firm Lookonchain flagged that two early backers of the memecoin token, labeled in Solscan as “PUMP Top Fund 1” and “PUMP Top Fund 2,” collectively sent over $160 million in PUMP tokens to centralized exchanges. During the private sale, the Top Fund 1 wallet acquired 25 billion tokens for $100 million in USDC (USDC). In the last week, the wallet deposited 17 billion tokens worth almost $90 million to exchanges. While the whale started offloading, it still holds tokens worth $29.5 million. Read more
BitMEX said the PUMP token defied the odds, with its funding rates trending positively despite a large initial float. Almost 60% of presale participants in Pump.fun’s initial coin offering (ICO) have already sold or transferred their tokens to centralized exchanges (CEXs) or other wallets, according to data shared by BitMEX. Citing onchain data, the crypto exchange said that of the 10,145 ICO participants in the PUMP presale, 6,042 wallets (59.6%) had already sold or transferred their tokens to CEXs. Meanwhile, 3,791 wallets (37.4%) continued to hold their tokens, while a small group of 312 wallets (3%) had increased their holdings a week after the token launch. Read more