Chiara Bianchi
Solana’s leading memecoin launchpad, Pump.fun, has repurchased nearly $15 million worth of its native token (PUMP) in just two weeks. This aggressive buyback strategy has pushed the project’s market capitalization above $1 billion, marking a sharp rebound in investor sentiment.
Over the last 30 days, PUMP’s value has climbed more than 32%, now trading around $0.0032. These fee-driven buybacks were initially executed at prices more than 40% higher than the market rate in mid-August. However, the gap has since narrowed to around 20%, with the average repurchase cost dropping from $0.0058 to $0.003841.
Despite the gains, PUMP still trades about 20% below its ICO price of $0.004 and remains over 52% lower than its July 16 peak.
Revenue and Trading Volumes Skyrocket
Pump.fun’s financial growth mirrors its token’s momentum. Daily platform revenue has exceeded $1 million every day since August 6, and trading volumes surged past $210 million in just 24 hours. The launchpad now accounts for 86% of all Solana-based token graduations, reclaiming dominance after short-lived competition from rivals like LetsBonk.
Notably, Pump.fun crossed $800 million in lifetime revenue last week, highlighting its unmatched position within the Solana ecosystem.
Solana’s DeFi Decline Contrasts Pump.fun’s Growth
While Pump.fun thrives, the broader Solana DeFi ecosystem shows signs of slowing down. Daily decentralized exchange (DEX) users dipped below 1 million for three consecutive days — the first such decline in months. This divergence signals that memecoin activity and fees are increasingly concentrated on Pump.fun, even as Solana’s overall DeFi usage contracts.
In summary: Pump.fun’s $15 million token buyback and surging revenues demonstrate its growing dominance in the Solana ecosystem, even as the broader DeFi landscape cools.
