Pump, a meme coin generating platform, has earned over $5 million in fees since launching in March amid the ongoing meme money craze on Solana, making it one of the biggest revenue-generating apps in a relatively short period of time.
Pump quickly generated significant revenue and transitioned into one of Solana's highest-earning apps, demonstrating the profitability of offering tokenization services in the crypto space.
According to data, the platform earned $300,000 in the last 24 hours on Solana alone,contributing a significant chunk to the network’s total generated fees of $2.5 million. Annual revenue estimates based on current usage and growth are approximately $66 million.
Pump lets anyone issue a token for $2 in capital, after which they choose the number of tokens, theme, and meme picture to accompany it. When the market capitalization of any token reaches $69,000, a portion of liquidity is deposited to the Solana-based exchange Raydium and burned.
Platfrom also extended support to the Base and Blast networks last week.
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