30s Summary
Crypto platform SecondLane is selling a 1% share of Pump.fun, a memecoin platform with a total value of $1.5 billion. Pump.fun, which does not yet have its own token, has attracted investment from various entities and is developing its own token and trading terminal. DefiLlama reports that Pump.fun is generating significant revenue, ranking eighth among blockchain protocols, and its total fee revenue now exceeds $225 million. Despite this, almost all attempted memecoin launches on Pump.fun’s platform fail, according to data from Dune Analytics.
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SecondLane has offered a share of meme-focused crypto protocol Pump.fun for sale, pegging the value at a cool $1.5 billion, as per their platform. They’re selling a 1% share for $15 million, which is available on SecondLane’s app and a dedicated Telegram channel where they announce new deals.
Even though the Solana-based memecoin platform, Pump.fun, doesn’t have its own token yet, it has still attracted investment from the likes of Alliance DAO, Big Brain Holdings, and 6th Man Ventures.
The Pump.fun team teased plans last month for releasing a token in the future along with an updated trading terminal they’re calling “Pump Advance.” They’ve yet to provide a specific timeframe for the release of the token.
According to DeFi data source, DefiLlama, Pump.fun is raking in revenue, ranking eighth amongst blockchain protocols and generating $86 million in fees in the last month alone.
The memecoin trading buzz primarily happens on the platform’s Solana blockchain. This has significantly helped boost Pump.fun’s total fee revenue, which is now over $225 million, according to DefiLlama.
With the help of venture capital funding and political speculation, memecoins have grown to a massive market cap of over $122 billion, says CoinGecko.
Pump.fun says users can create a coin that’s instantly trade-able for less than $2 with just a click. Plus, it says it tailors real-time user feeds based on their past activities on the platform.
However, according to data from Dune Analytics, almost all attempted memecoin launches on Pump.fun’s platform don’t quite make it.
People have mixed opinions about memecoins. Some influencers believe they legitimize crypto by separating altcoins from speculation. Others think they encourage risk and are negative for investors.