Pump.fun Revenue Hits $1.98M as KIMCHI Controversy Raises Concerns
Altcoin Buzz
Pump.fun generated approximately $1.98 million in protocol revenue over 24 hours on October 24, briefly surpassing decentralized derivatives exchange Hyperliquid. But the revenue milestone comes amid renewed questions about token-launch practices, after a KIMCHI-related promotion coincided with a decline in Pump.fun's daily revenue and active addresses. Separately, blockchain analytics firm Bitquery found that developers and wallets linked to their launches made at least $579 million in profits across millions of Pump.fun tokens. The findings highlight the gap between the platform's fee-generating activity and the risks faced by traders buying newly launched memecoins. Pump.fun recorded $1.98 million in protocol revenue over a 24-hour period, according to DefiLlama data reported on October 24. Hyperliquid generated approximately $1.96 million over the same period, putting Pump.fun slightly ahead in the daily comparison.
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