Few Traders See Big Gains as Pump.fun Revenue Nears $400 Million

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2025/01/13/few-traders-see-big-gains-as-pump-fun-revenue-nears-400-million/ on 2025-01-13. Article ID: SD19742Te785b5d3. Author: Michaela. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2025/01/13/few-traders-see-big-gains-as-pump-fun-revenue-nears-400-million/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

Traders on Pump.fun, the decentralized platform for launching Solana-based meme coins, have reportedly been struggled to see significant profits, with only 0.4% of wallets earning $10,000 or more so far.

Data from Dune analyst Adam Tehc revealed that out of the more than 13.4 million wallets on the platform, just 55,012 have generated profits of $10,000 or more. Additionally, only 294 wallets, or about 0.002% of the total, have profited more than $1 million.

OK.

• If you've realized $1,000,000 trading рumpfun's you're a top 0.00217% wallet.

• If you've realized $100,000 trading pumpfun's tokens you're a top 0.048% wallet.

• If you've realized $10,000 trading pumpfun's tokens you're a top 0.412% wallet. https://t.co/LnOwFfs2kk
— Adam (@Adam_Tehc) January 9, 2025

In response to the data from Tehc and Dune, pseudonymous on-chain analyst Alon dismissed the findings as FUD (fear, uncertainty, and doubt), citing several issues with the analysis. On January 10, Alon took to X to offer clarifications, challenging the accuracy of the conclusions drawn.

seeing "analyses" about user profitability on @pumpdotfun make a comeback

Here’s why you shouldn't only ignore the FUD, but why this data is BULLISH for onchain trading as a whole pic.twitter.com/6mSZPB7e64
— alon (@a1lon9) January 10, 2025

“FIRST and foremost, buying coins after they have already bonded to Raydium is NOT included when calculating your [profit and loss],” Alon wrote. “Therefore, it’s likely that the true number of profitable and extremely profitable wallets is an order of magnitude LARGER than exhibited,” they added.

Moreover, Alon states that the analysis does not account for unrealized profits. Alon claimed that some of the most profitable wallets belong to traders who have maintained strong convictions in assets they acquired early on, which may not yet have been fully realized.

He also disputed Dune’s claim that a large portion of the platform’s over 13 million traders are experiencing negative profits. He argued that a closer look at the platform would reveal the claim is inaccurate, emphasizing that many of the wallets involved are non-human, such as bots and AI agents. These, he said, distort the data and do not reflect actual traders’ performance.

The analyst further noted that approximately 30% of wallets on Pump.fun have only placed a single sell order, suggesting these wallets are likely not human-controlled. This, they argued, could further distort the data.

Despite a decline in the overall market capitalization of memecoins in December, Pump.fun’s total revenue is approaching $400 million.

On January 2, the bloсkchain analytics platform Lookonchain reported that Pump.fun transferred over $300 million in SOL tokens to the crypto exchange Kraken. Additionally, the platform converted $41 million into USD Coin (USDC).

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MICHAELA

Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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