pumpdotfun Surpasses Ethereum in Monthly Revenue, Signaling the Shift in Decentralized Finance (DeFi) Ecosystem Dynamics

For the first time in history, pumpdotfun not only set a new all-time high but also surpassed Ethereum in monthly revenue.

Solana (SOL) memecoin pump service pumpdotfun has now set a new all-time high for monthly revenue, which now even surpasses that of Ethereum (ETH). According to SolanaFloor, pumpdotfun generated a staggering $121 million in revenue during January 2025, marking a significant milestone for Solana’s memecoin ecosystem.

🚨News: @pumpdotfun’s monthly revenue hit an all-time high of $121M in January, surpassing Ethereum’s monthly revenue for the first time. pic.twitter.com/uCR9imNRzJ

— SolanaFloor (@SolanaFloor) February 4, 2025

Pumpdotfun, which is essentially a service that allows users to quickly pump up the prices of Solana and other coins, also notably uses as many stylistically dubious memecoins as possible in the process. Notably, pumpdotfun is now generating more $SOL tokens each month than the Ethereum Foundation pushes $ETH.

$447.45M US Dollars is the amount of fees that @pumpdotfun has generated so far, with $295.54M or 66.05% of that in just the last 3 months.

The ecosystem is bleeding $163,000 per hour in fees, and that's not everything

1/👇Let's explore pic.twitter.com/RbAiguxiFu

— esky.sol (@eskysol) February 2, 2025

According to esky.sol, pumpdotfun has now generated a total of $447.45 million in fees, with $295.54 million, or 66.05%, of that being generated in the last three months alone. The ecosystem is notably bleeding $163,000 per hour in fees, but that’s not all.

As highlighted by Accountwist, pumpdotfun is now processing over 50% of the total volume on Solana’s decentralized exchange (DEX), which is largely memecoin casino activity. Curiously, pumpdotfun also pushes more $SOL tokens into the market each month than the Ethereum Foundation pushes $ETH.

🚨 PumpDotFun just out-earned #Ethereum – $121M in monthly revenue (ATH). Let that sink in.

– Over 50% of @solana DEX volume now flows through its memecoin casino.

– @pumpdotfun sells more $SOL monthly than the Ethereum Foundation sells $ETH.

This isn’t just a trend; it’s a…

— Accountwist (@Accountwist) February 4, 2025

This, of course, is not just a pump and dump scheme for sell-side liquidity, as there is genuine economic activity happening on Solana. Notably, memecoins are being used to fund fast, low-fee transactions, and each time a memecoin transaction happens, the transaction’s speed and low cost make the case for involving oneself in this speculative trading loop all over again.

If the current speculative momentum keeps up, Solana’s price might soar to unprecedented levels. On the flip side, ongoing trouble with gas fees has seen Ethereum’s retail interest be stunted. Altogether, Solana might reclaim its all-time high simply because traders are diving into its memecoin economy and looking to flip fast profits. Not only does that seem more likely day by day, but Solana’s market is on the verge of a momentum-driven moonshot, with traders flocking to the chain and its rapidly growing memecoin economy.