Pump.fun, a meme coin launchpad, recorded $78 million in revenue for November, contributing to 35% of its total earnings since inception. According to statistics released by DefiLlama, the platform saw a surge in user activity and transaction volumes, driving its highest monthly revenue to date. As of November 29, 2024, Pump.fun has generated $78.28 million since November 1, 2024.
The platform, which operates on Solana, recently disabled its livestreaming feature temporarily following reports of disturbing user content. The livestream function, launched in August, was originally designed for users to share their reactions to token price movements. However, it soon became a hub for problematic content, prompting concerns within the community.
Several broadcasts featured alarming behavior, including threats of violence and self-harm. In one instance, a user reportedly threatened to harm their pet if their meme coin failed to reach a specific market capitalization. In response, Pump.fun acknowledged the issue and announced plans to strengthen its moderation infrastructure. The livestream service will remain suspended until more robust moderation tools are implemented.
CZ Shares Perspective on Meme Coins
Binance co-founder and former CEO Changpeng “CZ” Zhao recently shared his thoughts on meme coins, differentiating them from cryptocurrencies tied to real-world infrastructure and applications. “I am not against memes, but meme coins are getting ‘a little’ weird now,” Zhao said. “Let’s build real applications using blockchain.” He clarified that his comments were not an attempt to end the meme coin trend but rather to encourage more development of real-world blockchain applications.
