Pump.fun Revenue Plummets 92% From Peak

Pump.fun, a meme coin launchpad, has experienced a significant decline in its revenue, with a drop of around 92% from its historical peak. This downturn indicates a continued decrease in the platform’s influence in the crypto market. On-chain data reveals that the platform’s fees have been consistently decreasing over the past few days, resulting in a notable reduction in generated revenue compared to the start of the year when it began strongly.

According to data from DeFi Llama, on July 6, the launchpad’s revenue amounted to $533,410, while its fees generated less than $922,890. This marks the first time since March 2025 that the platform has seen its daily fees fall below $1 million. Compared to its historical peak on January 23, the platform’s revenue has decreased by 92%, and its fees have dropped by 86%. Earlier this year, Pump.fun reached its peak revenue and protocol fees at $7.07 million for both categories.

The decline in Pump.fun’s fees and revenues represents a significant setback for the platform, which once dominated the Solana (SOL)-based meme coin market. Although its fees briefly recovered by the end of March 2025 to $6.6 million, its revenue never exceeded $2.05 million. This trend highlights the challenges faced by the platform in maintaining its market position.

On a monthly basis, the platform reached its peak in January with $137.12 million for both revenues and fees. However, by the end of June, its fees had fallen by more than 60%, reaching only $64.47 million. Meanwhile, the platform’s monthly revenue in June was $39.08 million, which is less than 30% of its monthly peak. This decline in revenue and fees underscores the platform’s struggles in the current market environment.

Earlier in February, Pump.fun’s trading volume also declined by 63% as more celebrities entered the meme coin trend, resulting in high-profile scams. This further exacerbated the platform’s financial difficulties. Data from Dune analytics showed that only less than 0.01% of Pump.fun addresses were able to turn a profit of $1 million in the past six months. On the other hand, nearly 60% of meme coin traders have experienced losses on the launchpad. This disparity has led traders to question whether the platform’s glory days are over.

The significant drop in Pump.fun's revenue is a stark reminder of the risks associated with investing in cryptocurrency-related ventures. The platform's once-thriving business model, which likely relied heavily on the speculative nature of cryptocurrency trading, has been severely impacted by the recent market downturn. This situation underscores the importance of diversification and risk management for companies operating in the cryptocurrency space.

The decline in Pump.fun's revenue also raises questions about the sustainability of its business model. The platform's reliance on high trading volumes and speculative investments may no longer be viable in the current market environment. As a result, Pump.fun may need to explore alternative revenue streams or adapt its business model to better align with the evolving cryptocurrency landscape.

The decline in Pump.fun's revenue is not an isolated incident but rather a reflection of the broader challenges facing the cryptocurrency industry. The market's volatility and the increasing regulatory scrutiny have made it difficult for many platforms to maintain their financial stability. As the industry continues to evolve, companies like Pump.fun will need to adapt and innovate to survive in this competitive and unpredictable environment.

In conclusion, the over 90% decline in Pump.fun's revenue from its historical peak serves as a cautionary tale for investors and companies operating in the cryptocurrency space. The platform's struggles highlight the need for diversification, risk management, and adaptability in an industry characterized by volatility and uncertainty. As the market continues to evolve, it will be crucial for companies to stay agile and responsive to changing conditions to ensure their long-term success.