The digital asset space witnessed a major boost as Pump.fun, a Solana-based memecoin launchpad, crossed $1 billion in daily trading volume on Monday. This surge aligns with a broader rally in the memecoin market throughout September, making waves in the decentralized finance (DeFi) ecosystem.
Pump.fun Hits New Trading Milestones
Data from decentralized exchange Jupiter highlighted Pump.fun’s impressive performance, recording $942 million in trading volume on Sunday, followed by a $1.02 billion spike on Monday. The rally contributed to the memecoin market’s capitalization reaching $83 billion on Sunday, the highest in 30 days, settling above $80 billion into the following week. Currently, the memecoin market cap rests at $76 billion, with recent trends suggesting further resilience in the sector.
Growth of Total Value Locked (TVL) and Revenue
Pump.fun isn’t just experiencing trading volume growth—it’s seeing a concurrent rise in its total value locked (TVL), a critical indicator of DeFi platform adoption. According to DefiLlama, Pump.fun’s TVL peaked at $334 million on Sunday. In parallel, the platform outperformed perennial leader Hyperliquid in revenue for two consecutive days, ranking third among all DeFi protocols in 24-hour revenue. It trailed only behind stablecoin giants Circle and Tether.
Livestream Innovation Drives Momentum
Pump.fun’s expansion owes much to its innovative livestreaming feature, which has begun capturing the creator economy’s attention. The platform revealed it distributed $4 million in rewards to content creators on Monday alone, benefiting primarily first-time creators. Co-founder Alon boasted that Pump.fun is competing directly with platforms like Twitch and Kick, steadily increasing its market share in livestream services. “We’re nibbling on their lunch,” Alon remarked, citing unverified metrics.
Memecoins Gain Renewed Interest
Beyond Pump.fun, the broader memecoin ecosystem has experienced notable activity, with tokens like Dogecoin (DOGE) seeing an 11% gain in the last week despite a delayed exchange-traded fund (ETF) launch. Other tokens, such as Memecore (M), Moo Deng (MOODENG), and DORA, recorded double-digit growth as market enthusiasm resurged.
How to Stay Ahead in Memecoin Trading
Given the fast-paced memecoin market, staying informed is vital for traders and investors. Incorporating expert tools and platforms can simplify portfolio management, especially with projects like Pump.fun challenging the traditional DeFi landscape.
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Final Thoughts
Pump.fun’s breakout success highlights the growing mainstream appeal of decentralized platforms and memecoins. As the ecosystem evolves, platforms marrying innovation with user engagement will define the next phase of cryptocurrency adoption. Stay tuned for more developments as the memecoin sector continues to surprise markets worldwide.
