Pumpdotfun Surpasses Ethereum in Monthly Revenue

Pumpdotfun, a decentralized finance (DeFi) platform on the Solana blockchain, has made headlines by surpassing Ethereum in monthly revenue for the first time. In January 2025, Pumpdotfun generated an impressive $121 million in revenue, setting a new all-time high and signaling a shift in the balance of the DeFi ecosystem.

Pumpdotfun's remarkable growth can be attributed to its central role in the burgeoning memecoin economy on Solana. The platform's unique business model, which involves pumping up the prices of Solana and other coins while utilizing stylistically dubious memecoins, has proven to be highly lucrative. In just 31 days, Pumpdotfun pulled in an average of $3.91 million a day, $163,000 an hour, $2,718 a minute, or $45.30 a second in revenue.

The growing dominance of Solana's memecoin economy has also contributed to Pumpdotfun's success. More than half of the volume that goes through Solana's decentralized exchange (DEX) now comes from Pumpdotfun, making it one of the biggest and baddest players in the retail trading arena. Additionally, Pumpdotfun currently pushes more $SOL tokens into the market every month than the Ethereum Foundation pushes $ETH.

As the memecoin economy continues to grow, so does the potential for Solana to challenge Ethereum's dominance in the DeFi space. The low gas fees and fast transaction speeds on Solana have attracted many retail traders, who are looking to flip fast profits in the rapidly growing memecoin economy. While Ethereum still has a potent ecosystem and broader use cases, the strain of gas fee fatigue on would-be retail adopters may drive more users to alternative networks like Solana.

The future of Solana and Ethereum in the age of memecoins remains uncertain. Although Solana is experiencing an upswing in activity and revenue from memecoins, Ethereum's next-gen architecture, including Ethereum 2.0 and Layer 2 solutions, could give it a leg up on Solana in terms of scalability and long-term growth. As the crypto landscape continues to evolve, the impact of Pumpdotfun's rapid ascent and the growing memecoin economy on Solana will be an important factor to watch.