Pump.fun, the Solana-based memecoin launchpad, generated roughly $12 million in 7-day revenue, ranking third among all crypto protocols behind only Tether and Circle. The platform's fee income now trails two stablecoin issuers while outpacing virtually every DeFi protocol, decentralized exchange, and lending platform, and half of it funds an ongoing buyback of the PUMP token.
Pump.fun outearns DeFi's biggest names
A platform that lets anyone launch a memecoin in under two minutes has become the third highest-earning protocol in crypto. Pump.fun pulled in roughly $12 million in 7-day revenue, according to DefiLlama data, placing it behind only Tether at $111.88 million and Circle at $44.45 million.
The launchpad's model is simple. It charges fees on bonding-curve trades for newly created tokens, collects graduation fees when those tokens migrate to a decentralized exchange, and earns further income from PumpSwap, its companion trading product.
Recent fees track the platform's usual pace
Over the past 24 hours, Pump.fun generated $1.62 million in fees. Its 30-day revenue figure sits at $40.51 million, suggesting the current pace runs roughly in line with recent performance rather than marking an anomalous spike.
Since launching in early 2024, the platform has cumulatively earned over $1.2 billion in total revenue. Half of that revenue feeds directly into a buyback-and-burn program for PUMP, the platform's native token: the protocol uses 50% of its fee income to purchase PUMP on the open market and permanently destroy it, reducing total supply over time.
Why a memecoin factory outpaces stablecoin issuers
The comparison to Tether and Circle is instructive. Stablecoin issuers earn revenue primarily from yield on their reserve assets, profiting from US Treasury rates applied to tens of billions in deposits. Their revenue is a function of macroeconomic conditions and the size of their float. Pump.fun's revenue, by contrast, is a pure function of on-chain trading activity.
Hyperliquid, the perpetual DEX that has been one of the breakout stories of 2024-2025, has consistently ranked behind Pump.fun during periods of elevated memecoin trading. For Solana, Pump.fun's dominance reinforces the chain's position as the preferred home for retail-driven crypto activity, given the low transaction costs and fast finality that make rapid-fire memecoin trading viable.
Source: Crypto Briefing
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