Token sale initiation announced by Pump.fun, a leading memecoin launchpad.
In the dynamic world of cryptocurrency, two projects, Pump.fun and LetsBonk.fun, have been making waves recently. While Pump.fun successfully raised around $600 million in a token sale on Gate.io during the 2025 ICO resurgence, the project has since faced challenges.
The sale page for Pump.fun on Gate.io was removed, potentially due to regulatory scrutiny, legal issues, or compliance concerns. These issues could be linked to Pump.fun's citation in a New York amended RICO suit alleging a $5.5 billion meme coin scheme [4]. However, no definitive official statement about the exact cause for the removal has been found.
Meanwhile, Pump.fun's daily revenue has taken a significant hit. According to DeFiLlama, the daily revenue dropped from $7 million in January to $533,000 as of July 6 [2]. This decline is also reflected in the total fees collected by Pump.fun, which have cratered by 86% and are now at their lowest level since March.
In contrast, LetsBonk.fun, another player in the market, has been thriving. The platform's daily revenue has crossed the $1 million mark [1]. Moreover, LetsBonk.fun allocates 50% of platform fees towards buybacks of $BONK, creating a virtuous cycle of demand and price support [3].
Critics, however, argue that while Hyperliquid also has a high valuation, its earnings are stable and sustained, whereas Pump.fun's appear to be in freefall [5]. To add to this, LetsBonk.fun has overtaken Pump.fun in daily token launches, registering over 21,000 new tokens in just 24 hours [5].
These developments have sparked concerns among some community members that the 15% supply set aside for the PUMP token sale may eat into the highly anticipated airdrop [6]. The uncertainty surrounding Pump.fun's future, given the regulatory climate and the competitive landscape, remains a topic of discussion in the cryptocurrency community.
References: 1. [Source 1] 2. [Source 2] 3. [Source 3] 4. [Source 4] 5. [Source 5] 6. [Source 6]
A concerned investor might question if the current financial predicaments of Solana-based project Pump.fun, notably its declining daily revenue and fees, are sustainable in the long term, given the competitive landscape. In contrast, another Solana project, LetsBonk.fun, continues to flourish, with its daily revenue consistently surpassing $1 million and a buyback strategy that supports its token's demand and price.
