Solana-based memecoin platform Pump.enjoyable has began 2024 on a excessive be aware, producing over $14 million in income on January 2 amid a continued surge in meme cash.
Information from Dune Analytics and DeFi tracker DefiLlama revealed that Pump.enjoyable earned 72,506 Solana (SOL) in charges firstly of the yr.
With SOL buying and selling above $200, this translated into the platform’s highest every day income since its inception.
Pump.enjoyable Maintains Dominance in Solana DEX Transactions
Moreover, Pump.enjoyable maintained its dominance in Solana-based decentralized trade (DEX) transactions, accounting for 52.8% of all such exercise in December, in accordance with Dune Analytics.
Pump.enjoyable’s sturdy January efficiency builds on its record-breaking November, throughout which it grew to become the primary Solana decentralized utility (DApp) to surpass $100 million in month-to-month income, incomes $106 million.
So far, the platform has reportedly collected 2,016,391 SOL tokens, equal to just about $398 million in whole income, in accordance with Lookonchain.
Of this, over $300 million has been deposited to Kraken, with $41 million transformed into USD Coin (USDC).
Pump enjoyable deposited 292,437 $SOL($55.5M) to #Kraken once more at this time after 23 days.
To date, #Pumpfun has deposited 1,500,893 $SOL($303M) to #Kraken and offered 264,373 $SOL for 41.64M $USDC.#Pumpfun has earned a complete of two,016,391 $SOL($398M).https://t.co/eO2OHLWL0c pic.twitter.com/UG8RjIYa1N— Lookonchain (@lookonchain) January 2, 2025
Regardless of its monetary success, Pump.enjoyable has confronted its share of challenges.
In November, the platform paused its livestream function indefinitely following backlash over dangerous content material broadcasted by customers, together with reviews of violence and animal cruelty.
The controversy led to a 66% drop in weekly income towards the tip of the month.
Pump.enjoyable additionally got here below scrutiny from the UK’s Monetary Conduct Authority (FCA).
On December 6, the FCA warned residents in regards to the platform, alleging it promoted monetary providers with out correct authorization. Consequently, the platform was blocked within the UK.
However, Pump.enjoyable has garnered consideration for enabling merchants to realize substantial earnings via meme coin investments.
In a single occasion, a crypto dealer remodeled an funding of 13 SOL (roughly $3,300) into 9,718.5 SOL, leading to a revenue of $2.5 million by buying and selling 76.46 million Slopfather (FATHA) tokens.
In one other occasion, a fortunate dealer turned $857 into $2 million after buying 23 million $FWOG meme cash.
AI Brokers to Outpace Meme Cash in 2025
Whereas meme cash have began 2025 on a excessive be aware, some stay suspicious that they could lose share to different rivals, notably AI brokers.
Dragonfly Capital managing accomplice Haseeb Qureshi has claimed that AI agent tokens are set to outperform meme cash in 2025.
In a January 1 submit on X, Qureshi described the shift as a migration from “monetary nihilism to monetary over-optimism.”
My 2025 Crypto Predictions
I'm both going to seem like a prophet or an fool over these predictions, however one factor is for positive: I'm going to piss off lots of people with baggage.
Breaking this up into six sections: my predictions for L1s/L2s, token launches, stablecoins,…— Haseeb ＞|＜ (@hosseeb) January 1, 2025
Whereas he predicts the “AI agent craze” will persist all through 2025, Qureshi doubts its long-term viability.
“It’ll die off ultimately. This isn’t the long-term disruption to be careful for from AI, however it will likely be CT’s fixation as a result of it’s the most social,” he famous.
AI agent chatbots have gained traction within the crypto area by providing insights and value predictions.
Over the previous 24 hours, buying and selling quantity for high AI and knowledge tokens elevated by 7.95%, at the same time as whole memecoin buying and selling quantity fell 21.5%, in accordance with CoinMarketCap.
During the last 30 days, the market cap for AI tokens dipped 1.66%, whereas meme cash noticed a sharper decline of 17.7%.
The submit Pump.enjoyable Kicks Off 2024 with $14M Income Amid Continued Meme Coin Surge appeared first on Cryptonews.