According to Deep Tide TechFlow, on January 26, The Block reported that the meme coin trading platform Pump.fun set a new daily fee revenue record of $15.50 million on January 24. Since its launch in the Solana ecosystem on January 19, 2024, the platform has achieved $100 million in revenue in just 217 days, making it the fastest-growing application in crypto history. Over the past two weeks, the platform's trading volume has exceeded $4 billion, accumulating over 2.50 million SOL in fees.
The new wave of growth for the platform has been primarily driven by Vine Coin, launched by Vine co-founder Rus Yusupov, which once saw its market cap surpass $425 million. Although Pump.fun promotes compliance projects through innovative mechanisms, there are still U.S. law firms representing affected investors in lawsuits against the platform. Previously, the New York State Department of Financial Services classified such tokens as "emotion-based virtual currencies."