Pump.fun's Price Surges 5.122% as Project Ascend Boosts Creator Earnings

Pump.fun's latest price was $0.004286, up 5.122% in the last 24 hours. The cryptocurrency platform has recently undergone a significant transformation with the implementation of "Project Ascend," a new fee structure designed to enhance creator rewards based on token market capitalization. This dynamic model introduces a tiered fee structure, starting at 0.95% for tokens valued under $300,000 and progressively decreasing to 0.05% for tokens with a market cap exceeding $20 million. This shift replaces the previous flat 0.05% fee introduced in May 2024, aiming to boost earnings for creators launching tokens on the platform.

The revamped fee model has already shown promising results, with Pump.fun distributing an estimated $2 million to token creators shortly after the implementation of Project Ascend. The platform experienced a surge in activity on its launch day, briefly outpacing another major protocol and driving the creation of Solana Program Library (SPL) tokens to their highest daily level in recent months. This momentum indicates a strong response from the community and creators to the new fee structure.

Pump.fun continues to demonstrate substantial activity within the Solana ecosystem, facilitating between 200,000 and 300,000 daily traders and generating 20,000 to 30,000 new tokens daily. Since its inception, the platform has launched over 12.7 million tokens, with a significant portion of these tokens contributing to the overall token trading volume on the Solana network. Pump.fun consistently accounts for 10% to 25% of the total token trading volume, highlighting its importance within the ecosystem.

The platform's overall revenue performance has been robust, with total cumulative revenue surpassing $834 million, translating to an annualized run rate near $492 million. A key aspect of Pump.fun's strategy involves allocating a significant portion of its daily revenue toward purchasing its native PUMP token from the open market. This buyback program has seen substantial execution, with over $68.9 million worth of PUMP tokens repurchased to date. This approach not only supports the value of the PUMP token but also reinforces the platform's commitment to its community and creators.

Despite facing competitive pressures earlier in the year, particularly from rival Bonk, Pump.fun appears to be regaining its market share within the Solana meme token sector. Analysts had previously noted the platform's untapped potential, and recent data supports a recovery narrative. Bonk's activity levels have reportedly declined significantly since briefly surpassing Pump.fun earlier in the year, indicating a shift in market dynamics that favors Pump.fun. This recovery is a testament to the platform's resilience and its ability to adapt to changing market conditions.