Pump.fun ranks third in 7-day revenue among all protocols, trailing only Tether and Circle

A platform that lets anyone launch a memecoin in under two minutes is now the third highest-earning protocol across all of 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 numbers behind the memecoin machine Pump.fun’s revenue engine is surprisingly straightforward. The Solana-based launchpad charges fees on bonding-curve trades for newly created tokens, collects graduation fees when those tokens migrate to decentralized exchanges, and earns additional income from PumpSwap, its companion trading product. Over the past 24 hours, the platform generated $1.62 million in fees. Its 30-day revenue figure sits at $40.51 million, suggesting the current pace is roughly in line with recent performance rather than an anomalous spike. Since launching in early 2024, Pump.fun 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 mechanism works like a corporate stock buyback: the protocol uses 50% of its fee income to purchase PUMP tokens on the open mark...