Solana app Pump.fun reaches $100 million in revenue

Solana's memecoin launchpad Pump.fun is the fastest-growing crypto app ever. Recently, however, demand has slowed.

The Solana-app Pump.fun has generated $100 million in fee revenue in about seven months. This makes it the fastest-growing crypto app ever.

Pump.fun is a token launchpad for memecoins, which was launched in January at the Solana-blockchain has been launched.

"Like it or not, Pump is a huge signal to developers to build on Solana and a Trojan horse for consumer acceptance of blockchains," said crypto analyst Ryan Watkins on X.

According to Dune Analytics however, Pump.fun's usage has declined recently. The number of newly created tokens has dropped by more than 70 percent in the past three weeks.