TechFlow reports, on January 26, according to The Block, the meme coin trading platform Pump.fun set a new record for daily fee revenue on January 24, reaching $15.5 million. Since its launch on January 19, 2024 within the Solana ecosystem, the platform achieved $100 million in revenue in just 217 days, becoming the fastest-growing application in crypto history. In the past two weeks alone, the platform's trading volume surpassed $4 billion, accumulating over 2.5 million SOL in fees.
The platform's latest growth surge has been primarily driven by Vine Coin, launched by Rus Yusupov, co-founder of Vine. The token's market cap briefly exceeded $425 million. Although Pump.fun promotes compliant project launches through innovative mechanisms, it is currently facing a lawsuit filed by a U.S. law firm representing affected investors. Previously, the New York State Department of Financial Services classified such tokens as "emotion-based virtual currencies."
