Pump.enjoyable Kicks Off 2024 with $14M Income Amid Continued Meme Coin Surge

Solana-based memecoin platform Pump.enjoyable has began 2024 on a excessive observe, 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 initially of the yr.

With SOL buying and selling above $200, this translated into the platform’s highest each 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 line with Dune Analytics.

Pump.enjoyable’s robust January efficiency builds on its record-breaking November, throughout which it turned the primary Solana decentralized software (DApp) to surpass $100 million in month-to-month income, incomes $106 million.

Thus far, the platform has reportedly gathered 2,016,391 SOL tokens, equal to just about $398 million in whole income, in line with Lookonchain.

Of this, over $300 million has been deposited to Kraken, with $41 million transformed into USD Coin (USDC).

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 stories of violence and animal cruelty.

The controversy led to a 66% drop in weekly income towards the top of the month.

Pump.enjoyable additionally got here underneath 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 companies with out correct authorization. Consequently, the platform was blocked within the UK.

Nonetheless, 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 observe, some stay suspicious that they may 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.”

Whereas he predicts the “AI agent craze” will persist all through 2025, Qureshi doubts its long-term viability.

“It should 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 house 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 line 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%.

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