• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Monday, June 2, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Memecoin Launch Platform Pump.fun Flips Ethereum in 24-hour Revenue Generation

Jordan Avery by Jordan Avery
July 30, 2024
in News
Reading Time: 3 mins read
0
PUMPFUN - MEMECOIN- ETHEREUM 1
Share on TwitterShare on Facebook

Decentralized memecoin platform Pump.Fun has made $863,525 in revenue over the last 24 hours, significantly exceeding the $552,355 earned by Ethereum. Such a significant difference in income may indicate possible changes in the crypto ecosystem.

Pump.Fun Overtakes Ethereum in Revenue

Ethereum, the largest blockchain platform for smart contracts and the second-largest crypto asset by market capitalization, is losing its former appeal: both network activity and ETH price dynamics in this cycle leave much to be desired.

Pump.fun - memecoin - solana - ethereum
Since the beginning of the year, the price of Ethereum has risen by 43%, while the native token of Solana, which Pump.Fun runs on, has soared by 90%.
The significant income gap raises questions about ETH current market position, with some community members suggesting that the blockchain’s popularity is waning and fearing that it could eventually become a “ghost network.”

Memecoin Launch Platform Pump.fun Flips Ethereum in 24-hour Revenue Generation
Crypto Protocol Revenues and Fees. Source: DefiLlama

Ethereum’s high fees are pushing users to alternative blockchains, and some believe the rise of second-layer protocols could fragment revenues and transaction volumes. “Solana has the same 24 hour trading volume on decentralized exchanges as Ethereum and all L2s combined.

Anyone who says you need to consider L2s should be confused,” Gumshoe commented .Meanwhile, Solana and Pumps growth is fueled by their focus on memecoins. The surge in interest in memecoins, fueled by celebrities and social media, has made Pump.Fun a hub for the crypto community. Celebrities like Andrew Tate and Caitlyn Jenner have chosen Pump.Fun to launch their tokens.

In addition, in the run-up to the US presidential election, Pump.Fun has become the leading platform for creating politically oriented memecoins. The number of contracts deployed on the platform has already exceeded 1.526 million.

A suspected hacker was arrested in May

UK police have arrested Jarrett Dunn, known online as @STACCoverflow, on suspicion of hacking the Solana memecoin creation protocol Pump.fun. However, the pump.fun protocol, which was hacked on May 16, was used by Dunn on multiple occasions. He has been vocal in his criticism of the company on social media since the attack.

A private intelligence company hired by a third party tracked Dunn’s movements through his social media posts and other open-source data. The timing of his last tweet coincided with the time of his arrest. After several hours of searching London’s Covent Garden, authorities located Dunn at the Middle Eight Hotel and arrested him. Dunn’s arrest has sparked a furious reaction in the crypto community. The suspect confirmed on his @JarrettDunn account that he spent the night in custody.

Tags: Blockchain Trendscelebrity tokensCrypto Ecosystemcrypto revenueDecentralized FinanceEthereumMemecoinsPump.Fun
Previous Post

Kamala Harris Perspective on Crypto: Insights and Stances

Next Post

Shiba Inu (SHIB) Futures Open Interest Hits Six-Month Low

Related Posts

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier