Solana-based memecoin creator, Pump.fun, experiences increased activity and popularity, with its token,
PUMP, reaching a new peak value.
According to information gathered, the PUMP token value increased, reaching $0.0086 on Sept. 14. It then decreased slightly by around 3%, with a trading price of $0.008 around the time of reporting.
This recent rise marks a turnaround. The token had a difficult start after its July introduction and seemed to be losing traction to competing projects.
However, Pump.fun has regained attention and popularity, mainly due to product improvements.
Streaming Growth
The return of Pump.fun’s live streaming feature is a crucial factor in this resurgence. The feature was paused the previous year due to concerns about safety.
Its reintroduction has significantly increased user activity, with live streaming directly contributing to engagement and revenue on the platform.
Pump.fun’s co-founder, Alon Cohen, states that the platform’s average concurrent streams now surpass Rumble. He also mentions that Pump.fun has acquired approximately 1% of Twitch’s market share and 10% of Kick’s.
Alon indicated that the project wants to expand beyond crypto users and attract a wider audience. He highlighted the potential benefits for users streaming on the platform,
explaining:
“When you stream on pump fun, you gain INSTANT Creator Fees (100x+ compared to other platforms). INSTANT viewership with a community that supports you. Free clipping on X (more platforms coming). And 24/7 assistance from the team.”
Despite ongoing criticism, Alon dismisses concerns, suggesting that scrutiny is inevitable for new ventures and that competitors will always emerge.
He commented:
“At first, people doubted memecoin activity. Then, they doubted streaming on pump fun. Now, they claim pump fun streaming isn’t sustainable. I’m curious what the next argument will be.”
Creator Earnings Rise
The increased activity has translated to
direct financial gains for creators
on the Solana memecoin platform.
Data from Dune Analytics reveals that creator earnings on Pump.fun increased significantly to $20 million in the past week, which is the highest weekly payment ever for the platform.
The data shows that the top 25 creators each earned between $24,100 and $123,000 in the past day alone.