Pump.fun Sells $6.68M in SOL: Revenue Surge, Challenges, and Future Plans

In recent weeks, Pump.fun, a Solana-based platform known for launching meme coins, has been consistently selling large volumes of SOL. On October 2nd, its Fee Account sold an additional 40,000 SOL, worth around $6.68 million. This sale briefly caused SOL’s price to dip to $163 before recovering to $166.

Pump.fun has generated significant revenue from its activities, selling a total of 503,343 SOL for $78.7 million at an average price of $156.4. To date, the platform has amassed 969,945 SOL, valued at $162 million, making it one of the year’s most profitable protocols. Since its launch in January, it has collected over 2.5 million Solana tokens and earned $140 million in fees.

During a recent Twitter Spaces event, the team revealed a trading bot and hinted at an upcoming token launch with a potential airdrop. They also teased Pump Advanced, a new trading terminal designed to rival other popular tools.

Originally, Pump.fun charged a $7 SOL fee for token creation but removed it in August, introducing an incentive model for developers instead. Developers are now rewarded 0.5 SOL for successful tokens that reach a certain market cap, fueling the platform’s rapid growth.

However, Pump.fun has faced challenges. In May, a former employee exploited their access, stealing 12,300 SOL, valued at $1.9 million at the time. Additionally, competition from Tron-based SunPump briefly caused a drop in token deployments, though activity has since rebounded.