Pump.fun Trading Volume Surpasses $1 Billion Amid Memecoin Surge
Solana-based memecoin launchpad Pump.fun recorded a daily trading volume exceeding $1 billion on Monday, marking a significant milestone as the memecoin market experienced renewed momentum throughout September.
Data from decentralized exchange Jupiter indicated that Pump.fun processed $942 million in transactions on Sunday before surpassing the $1.02 billion mark on Monday. This volume surge coincided with the memecoin sector’s market capitalization reaching $83 billion on Sunday, its highest in 30 days, and maintaining above $80 billion on Monday, according to CoinMarketCap. At the time of reporting, the sector’s cap stood at approximately $76 billion.
DeFi Metrics Highlight Positive Growth for Pump.fun
Key decentralized finance metrics underscore Pump.fun’s expanding ecosystem. According to DefiLlama, the protocol’s total value locked (TVL)—a critical indicator of assets secured in its smart contracts—hit a record $334 million on Sunday. This upward trend reflects increasing user participation and confidence in the platform.
Moreover, Pump.fun surpassed the perpetuals exchange Hyperliquid in daily revenue for two consecutive days, ranking third among DeFi protocols for 24-hour revenue generation, trailing only behind stablecoin projects Circle and Tether.
Livestreaming and Creator Incentives Drive Engagement
Pump.fun continues to expand its product offerings, notably through its livestreaming feature. On Monday, the platform announced $4 million in creator rewards, primarily allocated to first-time content creators. The co-founder, Alon, claimed that Pump.fun’s livestreaming has overtaken Rumble in average concurrent streams and is approaching 1% of Twitch’s and 10% of Kick’s market shares. These assertions, however, lack independent verification.
Memecoin Sector Gains Momentum
The Pump.fun surge aligns with broader positive trends in the memecoin market. Despite a delay in the launch of a US-based Dogecoin (DOGE) exchange-traded fund (ETF), DOGE’s price increased by approximately 11% over the past week. Other memecoins such as Memecore (M), Moo Deng (MOODENG), and DORA (DORA) also recorded double-digit gains during this period.
FinOracleAI — Market View
Pump.fun’s breakthrough in daily trading volume and TVL signals robust short-term growth fueled by heightened memecoin market activity and innovative platform features like livestreaming. However, claims regarding market share gains require cautious interpretation due to lack of third-party validation. Investors should monitor whether this volume uptick sustains and how competitive dynamics evolve, especially with shifting regulatory and market conditions for memecoins.
Impact: positive
