The post Only 0.04% of crypto traders on Pump.fun are making $10,000 or more appeared on BitcoinEthereumNews.com.

The apparent success of many investors in the crypto market may hide the fact that most traders have losses. On Pump.fun, a meme token launchpad, only 0.4% of traders have a profit of more than $ 10,000, statistics according to recent data. According to Adam Tehc, a Dune data analyst, out of the more than 13.4 million wallets on Pump.fun, only 54,724 wallets have made profits of $10,000 or more. However, only 294 have achieved the status of “crypto millionaires” by accumulating gains of more than $1 million—this is 0.002% of all wallets. Source:X Tehc pointed out the difference between reality and perception, saying that “289 Pump.fun millionaires is very low and speaks to the gap between the timeline and reality.” This data does not include the revenues from the purchase of Pump.fun tokens after they are graduated from the platform, which happens when a token has a $100,000 market capitalization. However, they do allow for token purchases that are made after graduation as long as the initial purchase was made before graduation. The data can also be impacted by bots. Pump.fun has identified a new group of bots known as “bump bots” that make small trades to generate interest in certain tokens. Although the percentage of very profitable traders among the Pump.fun users remain low, but this figure has steadily increased. A year ago, only 70 wallets had become millionaires, while 11,936 wallets had earned $10,000 or more. Tehc pointed out that the level of profitability is rising among more experienced traders. Pump.fun is a meme coin platform that was created in January 2024 and has become popular rather quickly. Currently, the platform supports the creation of more than 5.7 million tokens with a total revenue of approximately $392 million. A November report also showed that 88% of users…

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Filed under: News - @ January 11, 2025 1:26 am