Pump.fun Sees Revenue Plummet as Traders Flock to Rival Platforms

Pump.fun's daily revenue has taken a sharp downturn in recent weeks. According to Blockworks, the Solana-based memecoin issuance platform saw its daily revenue drop from approximately $3.2 million in late August to around the low-$1 million range.

Blockworks researcher Kunal Goel noted that trading activity is shifting to rival platforms like Robinhood Chain and other token issuance platforms on Solana as Pump.fun's revenue declines.

Goel also highlighted that platforms supporting trading pairs between memecoins and stock tokens are gaining traction, broadening competition beyond simple memecoin issuance and trading.