Pump.fun, a popular meme coin platform built on Solana, has unveiled its upgraded trading terminal, Pump Advanced, during an X Spaces event on October 19. The platform, which has facilitated the launch of over 2.5 million meme coins, aims to provide traders with a seamless and data-driven experience through the new terminal.
The announcement reveals that Pump Advanced includes mini-charts, data on top holders, and social indicators to help traders navigate through the multitude of memecoins currently available. Additionally, the team has announced that there will be 0% fees for the first month and enhanced login security options through Privy.
During the event, Pump.fun teased the launch of its native token, although no specific timeline was given. The team confirmed that a portion of the token supply will be airdropped to early adopters as a token of appreciation for their support. This news has generated excitement within the community, with traders speculating that the airdrop could potentially boost liquidity, especially if it includes revenue-sharing features.
According to data from Dune Analytics, while transaction throughput is high, over 98.5% of the meme coins deployed on Pump.fun fail to list on Raydium, a Solana-based decentralized exchange. In an effort to address this issue, the team introduced $80 bonding curve incentives in August 2024 to incentivize developers to complete the capping and listing of tokens.
Vex, an airdrop farmer, expressed optimism about the potential airdrop, stating that if it includes revenue sharing, it could have a significant impact. Despite the challenges, Pump.fun continues to attract high transaction volumes and revenue. On August 13, it generated over $5.3 million in revenue, surpassing the combined earnings of the top 24 crypto protocols for that day.
In September 2024, Pump.fun achieved a significant milestone by surpassing $100 million in revenue, making it one of the fastest-growing applications in the crypto industry. As a leader in the meme coin sector, Pump.fun enables anyone to create tokens on Solana’s blockchain. Its rapid growth and innovative features have continued to attract traders, even as critics question the sustainability of its model.
Moving forward with its advanced trading terminal and upcoming token launch, Pump.fun will need to address concerns about the high failure rate of token launches in order to maintain its momentum in the competitive crypto landscape.