From November 18 to November 24, Pump.fun generated an impressive $33.83 million in revenue, marking the platform’s highest revenue since launching at the beginning of the year. This is 60% more than the previous week and 400% more than in early November. What happened can be explained by the excitement in the memcoin market, they say data DefiLlama.
However, last week Pump.fun’s revenue fell to $11.31 million, the platform’s lowest level since late October. The decline in revenue was also accompanied by a significant reduction in the number of tokens issued on Pump.fun. By
data Dune, on November 30, only 34,359 tokens were created on the platform, which is 50% less than the record volume of 69,046 tokens registered just ten days earlier – on November 20.
The platform is struggling with the consequences of disabling its live streaming feature. The shutdown occurred after users of the platform began posting violent content in an attempt to attract more investment in their tokens. The company promised to improve its moderation tools to prevent similar content from being broadcast in the future.
Recently, analysts at The Block noted that investor interest is shifting from memcoins to tokens in the decentralized finance (DeFi) and artificial intelligence (AI) sectors.
Source: Bits
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