Pump.fun, the leading memecoin launchpad on Solana, has achieved a historic milestone by surpassing $800 million in total revenue. According to on-chain data, the platform has collected $800.6 million in fees to date, primarily through a 1% swap fee on all token transactions. This revenue model evolved from earlier extraction fees applied when tokens reached certain market values before transferring to Raydium.
The platform recently recorded its strongest revenue week of 2025, generating $13.48 million between August 11-17 - its best performance since February. This rebound followed a sharp decline from July 28 to August 3, when weekly revenue dropped to $1.72 million, contributing to July being Pump.fun's lowest revenue month this year.
Competition in the Solana memecoin launchpad space has intensified significantly. LetsBonk.fun, launched in April 2025 with Raydium's LaunchLab integration and Bonk community support, surpassed Pump.fun in tokens issued last month and briefly took the top spot for 24-hour revenue on July 7. However, Pump.fun has reclaimed dominance with 73.6% market share and $4.68 billion in weekly trading volume, while LetsBonk trails at 15.3% market share and $974 million weekly volume.
A key factor in this shift was the migration of LetsBonk's top 10 memecoin developers to Pump.fun. The revenue disparity is stark: Pump.fun generates over $1 million daily, while LetsBonk's daily revenue has plummeted from $1 million to under $30,000 earlier this month.
Despite its success, Pump.fun faces significant legal challenges. A class-action lawsuit amended on July 23 alleges the platform operates as an "unlicensed casino" with a structure mimicking a "rigged slot machine," claiming investor losses have reached $5.5 billion.
The broader memecoin market has shown volatility, dropping from $77.73 billion on July 28 to $62.11 billion on August 3 (a 20% decline), before recovering to nearly $75 billion on August 11 and settling at $66 billion at the time of reporting.
Solana's dominance in the memecoin space is being challenged by Base network, which saw 57,970 memecoin outflows in one day compared to Solana's 32,760 outflows. Meanwhile, Pump.fun raised $600 million in just 12 minutes during its recent ICO and is running a buyback program above market value to stabilize its token price.
Solana Labs co-founder Anatoly Yakovenko recently commented on Pump.fun's potential, suggesting the platform has "a shot at building a global streaming platform."