Solana-based memecoin launchpad Pumpfun recorded greater than $1 billion in each day buying and selling quantity Monday because the sector prolonged its September rally.
Information from decentralized alternate (DEX) Jupiter confirmed Pump.enjoyable processed $942 million in transaction quantity on Sunday earlier than topping $1.02 billion on Monday.
The surge got here because the broader memecoin market cap spiked, climbing to $83 billion on Sunday and holding above $80 billion on Monday, based on CoinMarketCap. On the time of writing, the memecoin sector’s total market cap was $76 billion.
The $83 billion determine marked a 30-day excessive for the sector and neared the $85 billion market cap it reached on July 23.
Pump.enjoyable quantity information. Supply: Jupiter
Pump.enjoyable’s DeFi metrics present a optimistic trajectory
Information from the decentralized finance (DeFi) aggregator DefiLlama confirmed that Pump.enjoyable’s complete worth locked (TVL), a key metric that measures the worth of property deposited in a protocol’s sensible contracts, continued to rise. On Sunday, Pump.enjoyable’s TVL reached a excessive of $334 million for the primary time.
Complete worth locked of the Pump.enjoyable protocol. Supply: DefiLlama
DefiLlama information additionally confirmed that Pump.enjoyable surpassed the perpetuals alternate Hyperliquid in income for 2 consecutive days, rating third in 24-hour income amongst DeFi protocols, behind stablecoin initiatives Circle and Tether.
Pump.enjoyable’s progress comes because the platform continues to push its livestreaming product. On Monday, the protocol stated it paid out $4 million in creator rewards. The protocol stated a lot of the funds went to first-time creators.
Supply: Pump.enjoyable
Pump.enjoyable creator Alon additionally not too long ago claimed that the platform’s livestreaming characteristic “flipped” Rumble within the common variety of concurrent livestreams.
The Pump.enjoyable co-founder stated they have been inching at 1% of Twitch’s market share and 10% of Kick’s market share. “We’re nibbling on their lunch,” Alon wrote.
Whereas the Pump.enjoyable co-founder made daring claims, the info couldn’t be verified by third-party information platforms.
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Broader memecoin momentum
The Pump.enjoyable breakout coincided with renewed enthusiasm throughout the memecoin sector. Dogecoin’s (DOGE) worth rose on Friday regardless that the launch of a US-based exchange-traded fund (ETF) tied to the memecoin was delayed.
CoinMarketCap information exhibits that the memecoin has seen a modest 11% acquire within the final seven days.
Other than Dogecoin, different memecoin tokens like Memecore (M), Moo Deng (MOODENG), and DORA (DORA) noticed double-digit share positive factors within the final week.
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