Pump.fun, a memecoin creation platform on Solana, has reached over $1 billion in revenue since launching in 2024, making it the first Solana-based application to hit this milestone. At the height of the memecoin trend, the platform accounted for as much as 62% of daily trading volume on Solana. However, approximately 98.5% of tokens created on Pump.fun ultimately fail. The platform is deploying nearly all revenue toward buybacks of its PUMP token, having purchased around 323 million USD worth, equivalent to roughly 29% of circulating supply.
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