The post Pump.fun Hits Record $78 Million in November Revenue appeared on BitcoinEthereumNews.com.

Despite Pump.fun’s very impressive revenue, many challenges popped up for the platform in November as well. Pump.fun even had to suspend its live streaming feature due to inappropriate content. Additionally, DeSci platform Pump Science suffered a security breach on Pump.fun, and stopped its token launches. Meanwhile, SecondLane listed a 1% equity stake in Pump.fun. Pump.fun Revenue Soars Pump.fun, a meme coin launchpad operating on the Solana blockchain, reported an impressive $78 million in revenue for November. This is its highest monthly earnings since its launch. This figure represents about 35% of the platform’s total revenue. Data from DefiLlama indicated that Pump.fun saw a big surge in user activity and transaction volumes, which helped it bring in $78.28 million since the start of November 2024. Pump.fun monthly revenue (Source: DefiLlama) Despite its financial success, Pump.fun still faced some challenges, particularly with its live streaming feature. The feature was introduced in August to allow users to share real-time reactions to token price movements.  However, the live streaming service was temporarily suspended after inappropriate and alarming content was shared on the platform. Users reportedly broadcasted disturbing behavior, including threats of violence and self-harm. In one case, a user even threatened to harm their pet if their meme coin failed to achieve a certain market capitalization. Pump.fun pledged to improve its content moderation tools and increase transparency in enforcement decisions before reinstating the feature again. Meanwhile, Binance co-founder and former CEO Changpeng “CZ” Zhao weighed in on the broader meme coin phenomenon. While he acknowledged their popularity, Zhao still prefers blockchain projects that deliver tangible applications and infrastructure. He clarified that his comments were not meant to undermine meme coins but to encourage the development of real-world blockchain applications.  SecondLane Offers Pump.fun Stake SecondLane recently listed a 1% equity interest in Pump.fun at a fully diluted valuation…

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Filed under: News - @ November 29, 2024 2:21 pm