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PumpDotFun Earns $850,000 in a Day Amid Trump-Elon Event Despite Low Token Success
Aug 13, 2024, 05:05 PM
PumpDotFun, a platform for launching cryptocurrency tokens, has seen over 1.7 million tokens launched, though only a fraction achieve significant market success. Recent data shows that only 0.12% of new token launches exceed a market cap of $60,000, and less than 0.002% of memecoins succeed. Despite the low success rate, PumpDotFun has generated substantial revenue, earning $850,000 in a single day during a high-profile Trump and Elon Musk interview event, placing it third in revenue among crypto protocols behind Aave and Ethereum. In the past six months, the platform has generated $84 million in revenue. On a single day, 16,357 tokens were launched, with 175 making it to Raydium. Only 41 tokens have maintained a market value of over $1 million for multiple weeks. The platform also recorded $1.8 million in daily revenue at its peak.
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