Data from the online analytics platform Dune indicates that nearly 99.6% of Pump.fun traders have not made profits exceeding $10,000, highlighting the rarity of substantial profits. However, analysts point out that unrealized profits and some trades are not taken into account, and the actual profit situation may be underestimated.
Most traders still haven’t exceeded $10,000 in profits
As a decentralized meme coin launch platform on Solana, Pump.fun is used to create and distribute meme coins. Despite the platform’s impressive trading volume and revenue performance, recent data shows that most traders have hardly made significant profits.
Adam Tehc, an analyst at Dune, tweeted that out of the 13.79 million wallet addresses on Pump.fun, only about 56,207 have realized profits exceeding $10,000, which represents only 0.457% of traders reaching this threshold.
Traders who have achieved six or seven-figure profits are even rarer, with only 6,644 wallets (0.005%) having profits exceeding $100,000, and only 294 (0.00213%) achieving profits exceeding $1 million.
In other words, if readers have made profits exceeding $10,000 in token trading on Pump.fun in the past few months, their wallet is ranked in the top 0.457%. This indicates that the profits of most traders are still relatively low.
Data may underestimate actual profits
However, these data may not fully reflect the true situation. Another on-chain observer, Alon, pointed out that there is a certain deviation in the data presented:
Tokens purchased after being linked to the decentralized exchange Raydium are not included in the profit calculations, which means that the profits of some traders are underestimated.
He also added, “In fact, the number of profitable wallets, including those with substantial profits, may be much higher than the current data suggests.”
Furthermore, he emphasized that these data still do not consider unrealized profits: “Certain wallets may hold tokens purchased early on and have confidence in them, which may be where the highest profits lie.”
Meme coin market value declines, Pump.fun’s revenue remains strong
Despite the significant decline in the meme coin market value in the past month, Pump.fun’s total revenue performance remains impressive. Out of the total $365 million in revenue from Solana DApps in November, Pump.fun contributed over $100 million, becoming the first DApp on Solana to generate over $100 million in revenue within a single month.
CoinMarkekCap: Meme coin market value declines by 22.12% in one month
(Solana DApp revenue surpasses $365 million in November! Meme coin platform Pump.fun contributes $109 million in a single month)
The on-chain tracking platform Lookonchain revealed a few days ago that Pump.fun has earned approximately 2.016 million SOL tokens (worth about $398 million) to date, and has deposited over $300 million worth of SOL into Kraken, already cashing out $41 million in USDC.
Previously, behind its impressive revenue, Pump.fun also faced concerns from US law enforcement agencies due to the misuse of its live streaming feature for terrorist attacks and violent threats, resulting in a sudden decrease in revenue.
(Terrorism, Grandmother’s Imprisonment, Threats of School Shootings! Pump.fun Slams on the Brakes, Platform Announces Removal of Live Streaming Feature)
Risk Disclaimer
Cryptocurrency investment carries a high level of risk, and prices may fluctuate dramatically, resulting in a potential loss of all capital. Please evaluate the risks carefully.