A week of inflows totaling tens of millions of dollars—this company has become the crypto world’s new “money printer”
Pump.fun has just crossed a fairly conspicuous milestone: weekly protocol fees have surpassed $10 million.
In the week from August 3 to 9, Pump.fun recorded $10.03 million in fees, up 12% month-over-month. DeFiLlama data also shows that over the past 7 days, revenue was about $10.49 million.
But even more noteworthy is the 30-day window figure:
Pump.fun: $35.67 million.
Hyperliquid: $32.46 million.
A launchpad plus a memecoin ecosystem has outperformed Hyperliquid on 30-day revenue.
The momentum is driven by trading activity. During the reporting period, Pump.fun’s trading volume was about $2.97 billion, with PumpSwap contributing the bulk.
The next thing to watch is how revenue flows back to the token itself.
Pump.fun has spent about $5.02 million to buy back and burn approximately 2.15 billion PUMP tokens—equivalent to about 15.7% of the initial circulating supply.
On pure revenue alone, the Pump.fun story looks quite strong.
But revenue doesn’t automatically translate into token value rising.
Here’s the problem:
Can this revenue be sustained?
Is the buyback size sufficient to absorb the added supply?
Most importantly: is this wave of trading volume coming from sustainable activity, or is it just a short-lived speculative cycle?
In particular, 6.875 billion PUMP tokens are expected to unlock on August 12, posing a very clear question about the market’s ability to absorb them.
So rather than focusing only on how much PUMP has risen over these 30 days, it’s better to watch three variables: fees and revenue, buybacks, and unlocks.
If actual activity continues to grow, and the buybacks are sufficient to offset the incoming supply, then this thesis becomes even more worth paying attention to.
For now, though, this is still a revenue-growth story—paired with fairly clear tokenomics risks.
The above is an information update and analysis and does not constitute investment advice.
Pump.fun has just crossed a fairly conspicuous milestone: weekly protocol fees have surpassed $10 million.
In the week from August 3 to 9, Pump.fun recorded $10.03 million in fees, up 12% month-over-month. DeFiLlama data also shows that over the past 7 days, revenue was about $10.49 million.
But even more noteworthy is the 30-day window figure:
Pump.fun: $35.67 million.
Hyperliquid: $32.46 million.
A launchpad plus a memecoin ecosystem has outperformed Hyperliquid on 30-day revenue.
The momentum is driven by trading activity. During the reporting period, Pump.fun’s trading volume was about $2.97 billion, with PumpSwap contributing the bulk.
The next thing to watch is how revenue flows back to the token itself.
Pump.fun has spent about $5.02 million to buy back and burn approximately 2.15 billion PUMP tokens—equivalent to about 15.7% of the initial circulating supply.
On pure revenue alone, the Pump.fun story looks quite strong.
But revenue doesn’t automatically translate into token value rising.
Here’s the problem:
Can this revenue be sustained?
Is the buyback size sufficient to absorb the added supply?
Most importantly: is this wave of trading volume coming from sustainable activity, or is it just a short-lived speculative cycle?
In particular, 6.875 billion PUMP tokens are expected to unlock on August 12, posing a very clear question about the market’s ability to absorb them.
So rather than focusing only on how much PUMP has risen over these 30 days, it’s better to watch three variables: fees and revenue, buybacks, and unlocks.
If actual activity continues to grow, and the buybacks are sufficient to offset the incoming supply, then this thesis becomes even more worth paying attention to.
For now, though, this is still a revenue-growth story—paired with fairly clear tokenomics risks.
The above is an information update and analysis and does not constitute investment advice.