Pump.fun surpasses previous record holder ENA for $100M revenue milestone, reaching it in just 217 days despite slowing growth

ump.fun, a memecoin launchpad, has generated $100 million in revenue within just 217 days of its launch in January.

This achievement makes it the fastest-growing protocol by revenue growth in the cryptocurrency ecosystem, surpassing the previous record holder, ENA, which took 34 days longer to reach the same milestone.

Pump.fun High Fees Attract Speculators

Ryan Watkins, co-founder of Syncracy Capital, attributes Pump.fun's revenue growth to its appeal among retail speculators.

Additionally, the platform charges the highest fees of any decentralised exchange (DEX) on the blockchain, contributing to its rapid revenue accumulation.

Comparison with other protocols

Other protocols, such as CVX, CAKE, and AERO, took significantly longer—306, 325, and 338 days, respectively—to reach the $100 million revenue mark.

These protocols, like Pump.fun, earn revenue through fees charged to users, after subtracting payments made to liquidity providers.

Revenue Decline and Competition

Despite its impressive start, activity on Pump.fun has slowed in recent weeks.

Daily revenue, which peaked at 13,511 SOL on June 30, has dropped to an average of 2,819 SOL over the past week.

The decline coincides with the launch of a competing memecoin platform, SunPump, by Justin Sun on the Tron network.

related reading：What plans does Justin Sun have? TRON’s USDD stablecoin loses 12,000 Bitcoin support and is now mainly supported by TRX

Pump.fun’s success is based on Solana

Pump.fun's revenue, predominantly earned in Solana (SOL), stands at roughly 684,716 SOL, valued at around $92 million.

Though revenue growth has slowed, the protocol remains a significant player in the cryptocurrency ecosystem, particularly within the Solana network.

Token creation on Pump.fun has also decreased.

In early July, users generated more than 500,000 tokens in a month, but on a recent Saturday, only 5,388 tokens were created— a 73% decline from three weeks prior.