David Edwards
For a fully divided value (FDV) of $1.5 billion, SecondLane, a private markets trade site, has bought a 1% share in the memecoin system Pump.fun.
There is a $15 million deal on SecondLane’s website and in a Telegram group just for new ads. Pump.fun has not yet released a local coin, even though it is worth a lot of money. PitchBook data shows that the Solana-based memecoin system has received stock funding from well-known companies such as Alliance DAO, Big Brain Holdings, and 6th Man Ventures.
Pump.fun’s thriving community and potential for making money
Pump.fun has hinted at more things to come, like the launch of a new token and an improved trade platform called “Pump Advance.” Expectations for when things will happen are still unknown, but the site keeps growing.
According to data from DeFiLlama, Pump.fun has been the eighth most profitable blockchain protocol over the last few months, making $86 million in fees just in the last 30 days. It has earned more than $225 million in fees so far, thanks to more memecoin trade on its own Solana blockchain.
With sites like Pump.fun driving the memecoin community, it now has a market value of over $122 billion, according to CoinGecko. Pump.fun lets users start coins right away for less than $2, and it uses its own formula to create a unique trade feed for each user based on how they use the site.
However, memecoins started through Pump.fun still have a low success rate. According to data from Dune Analytics, 98% of planned coins never come to life.
People have different feelings about memecoins.
Different people in the crypto world have different thoughts on memecoins. Supporters such as Murad Mahmudov say that these coins offer a unique use case by removing the price for gambling from other cryptocurrencies. Some people, like Jimmy Song, say that memecoins are risky investments that often lose money for investors.
Even though there was some debate, Pump.fun’s success and value show that people are still interested in high-risk, high-reward crypto assets in the blockchain world.
