Pump.fun Tops Memecoin Trading Charts with $12M in 7-Day Revenue

Pump.fun, a platform for creating memecoins in under two minutes, has become the third-highest earning protocol across all of crypto. According to DefiLlama data, Pump.fun pulled in roughly $12 million in 7-day revenue, trailing only Tether at $111.88 million and Circle at $44.45 million.

The platform's revenue engine is surprisingly straightforward. It charges fees on bonding-curve trades for newly created tokens, collects graduation fees when those tokens migrate to decentralized exchanges, and earns additional income from PumpSwap, its companion trading product.

Since launching in early 2024, Pump.fun has cumulatively earned over $1.2 billion in total revenue. Half of that revenue feeds directly into a buyback-and-burn program for PUMP, the platform's native token. This mechanism works like a corporate stock buyback: the protocol uses 50% of its fee income to purchase PUMP tokens on the open market and permanently destroy them, reducing total supply over time.

The comparison between Pump.fun and stablecoin issuers is instructive. While Tether and Circle earn revenue primarily from the yield on their reserve assets, essentially profiting from US Treasury rates applied to tens of billions in deposits, Pump.fun's revenue is a pure function of on-chain trading activity.