In November 2024, the world never saw a meme coin launchpad pump-like pump.fun had until the end of November when it reported earning itself its highest revenue yet, $82.78 million. This is significant, as this is a 207 percent increase in platform traffic and transactions.
The platform was launched in March 2024 and has been growing, somewhat surprisingly, to an unprecedented scale. $82.78 million for November DeFi Llama data shows that the platform has already taken in more than 35 percent of total income since inception.
We still have a few days left, so we should expect that revenue to keep rising, and November will be Pump.fun’s biggest month to date.
It’s also evident in a huge surge in the number of token launches. Pump. On November 20, Fun reached a milestone: more tokens were launched in a single day than ever, and 69,046 Solana-powered tokens were launched on the platform. Furthermore, platform volume has also seen an explosive uptick of more than $4.15 billion in total volume in the last two weeks.
Pump.fun Faces Backlash Over Livestream Feature Amid Record-Breaking Success
Recently, Pump.fun has been getting slammed for its livestream feature, but this is a record-breaking success. In August 2024, the feature was integrated to allow coin developers to have real-time interactions with users. It was criticized, though, for being abused to broadcast harmful content, including self-harm, which was aired.
The team went on to immediately disable the livestream feature and also worked to enhance content moderation on the platform, following lots of backlash from the community.
On November 23, Alon (Pump. fun founder) responded publicly to the issue on X. He defended the harmful risk content and said the harm risk content to users they had been trying to fight the problem. “We have a team of moderators that are working around the clock and an internal team of engineers, that we are working with to deal with the scale of coins, streams, and comments,” Alon said.
Despite the steps that Pump. But the system is clearly not perfect, Alon said. He took fun to moderating and ensuring safety, flagging NSFW materials, and taking down inappropriate content. He also asked users to use the platform’s support channels to report harmful content to keep the environment safe.
All this notwithstanding, Pump. fun’s rapid rise and market dominance show it is a serious player in the meme coin space. It keeps attracting very high interest and investment from users and investors beyond these obstacles regarding content moderation and user safety.
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