Meme Coin Launchpad Pump.fun Hits Record $78M Revenue in November

Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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November 28, 2024

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Pump.fun, a meme coin launchpad, recorded $78 million in revenue for November, contributing to 35% of its total earnings since inception.

According to statistics released by DefiLlama, the platform saw a surge in user activity and transaction volumes, driving its highest monthly revenue to date. At the time of writing, Pump.fun has seen $78.28 million since Nov. 1, 2024.

Pump.fun Halts Livestream Service

The platform operating on Solana recently disabled its livestreaming feature temporarily after reports of disturbing user content. The platform stated it will remain suspended until stronger moderation tools are implemented.

The livestreaming function, launched in August, was originally designed for users to share their reactions to token price movements. However, it quickly became a hub for problematic content, prompting community concerns.

Several broadcasts featured alarming behavior, including threats of violence and self-harm. In one case, a user reportedly threatened to harm their pet if their meme coin failed to reach a specific market capitalization.

Pump.fun acknowledged the issue and outlined plans to improve its moderation infrastructure. The platform also promised increased transparency in handling content moderation to help users understand enforcement decisions.

CZ Shares Perspective on Meme Coins

Binance co-founder and former CEO Changpeng “CZ” Zhao previously shared his thoughts on meme coins, distinguishing them from the cryptos that represent real infrastructures and applications.

“I am not against memes, but meme coins are getting “a little” weird now,” said Zhao. “Let’s build real applications using blockchain.”

“Not trying to end anything. Everyone have their choose on what to invest or hold. Just encouraging more builders,” explained Zhao.

CZ recently warned against exploiters targeting macOS and iPhone users, as Intel chip-based devices could have critical vulnerabilities that would allow attackers to run unauthorized code and conduct cross-site scripting attacks by exploiting sensitive web content