Pump.fun Surpasses Ethereum in Revenue With Celebrity-Themed Meme Coins

Pump.fun, a token launchpad platform, has overtaken Ethereum in daily revenue, generating $2 million in the past 24 hours. This surge is driven by the popularity of celebrity-themed meme coins, which have seen a significant increase in creation on the platform. Over 11,500 tokens were deployed on Monday alone, bringing the total number of tokens created on Pump.fun to 1.2 million. The platform's cumulative revenue now stands at $50.9 million. The trend of celebrity-themed meme coins started in late May, with celebrities like Caitlyn Jenner, Iggy Azalea, Trippie Redd, and Davido launching their own tokens on Solana. This has spurred a wave of users on Pump.fun hoping to create the next viral token and capitalize on the trend. It's important to note that Solana's lower cost compared to Ethereum makes it easier for bad actors to create tokens and conduct rug pulls.