Ethereum

Solana

Solana memecoin creation tool Pump.fun surpassed Ethereum in 24-hour revenue on July 29, according to data from DefiLlama.&nbsp;
Pump.fun pulled approximately $864,000 over the last 24 hours as of mid-day July 29, significantly outpacing Ethereum, which clocked around $550,000 during the same period, according to the data. 
This is not the first time Pump.fun’s revenue eclipsed Ethereum’s. On June 30, the memecoin platform’s 24-hour revenue hit an all-time high of nearly $2 million, slightly surpassing Ethereum’s $1.91 million during the same period. 
The memecoin platform’s record-breaking performance comes from a memecoin trading frenzy that has largely taken place on Pump.fun’s native Solana, a layer-1 blockchain. Its cumulative fee revenues are approaching $75 million, according to DefiLlama.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/a341579a-dc9c-442d-8c52-4f92b32e8b4a.png" alt="Pump.fun flips Ethereum in 24-hour revenue generation — DefiLlama " title="">
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 Pump.fun’s cumulative fee revenues approach $75 million. Source: DefiLlama
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Related: <a href="https://cointelegraph.com/news/neiro-memecoin-developer-makes-2-85m-profit-after-apparent-rug-pull">Neiro memecoin developer makes $2.85M profit after apparent rug pull</a>
Pump.fun and Ethereum rank third and fourth, respectively, by 24-hour revenue. Solana leads the pack at some $1.7 million. Tron, a smart contract platform launched in 2018, ranks a distant second at around $900,000, according to DefiLlama. 
Ethereum is the largest layer-1 smart contract platform, with almost $60 billion in total value locked (TVL). DefiLlama’s revenue data for Ethereum only counts burned Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) tokens and excludes gas fees, which amounted to nearly $1.6 million in the last 24 hours. 
Fuelled by venture capital funding and political speculation, memecoins now command upward of $53 billion in market capitalization, <a href="https://www.coingecko.com/en/categories/meme-token" target="_blank" rel="noopener nofollow">according</a> to CoinGecko. Dog-inspired Solana memecoin Bonk (<a href="https://cointelegraph.com/bonk-price-index">BONK</a>) has traded up some 8,000% in the past year and now exceeds $1 billion in market capitalization, <a href="https://coinranking.com/coin/jCd_nuYCH+bonk-bonk" target="_blank" rel="noopener nofollow">according </a>to Coinranking.
Pump.fun promises to let users “launch a coin that is instantly tradeable for under $2 in one click,” and its “For You algorithm uses your past actions on pump dot fun to curate a feed that changes in real-time,” according to the platform’s X <a href="https://x.com/pumpdotfun?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener nofollow">account</a>. 
It has recently hosted memecoin launches for celebrities, including Caitlyn Jenner, Iggy Azalea and Rich The Kid, among others. 
Magazine: <a href="https://cointelegraph.com/magazine/meme-coins-betrayal-crypto-ideals-or-true-purpose/">Memecoins: Betrayal of crypto’s ideals… or its true purpose?</a>

Pump.fun flips Ethereum in 24-hour revenue generation — DefiLlama

Cointelegraph

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