The Solana (SOL) ecosystem meme coin issuance platform Pump.fun saw its daily trading volume surpass $1 billion on Monday, reflecting the continued active market in this sector throughout September.
According to data from the decentralized exchange (DEX) Jupiter, Pump.fun processed $942 million in trading volume on Sunday, with Monday's volume rising to $1.02 billion.
Data from CoinMarketCap shows that the total market capitalization of meme coins reached $83 billion on Sunday, maintaining above $80 billion on Monday. As of the time of publication, the total market capitalization of this sector is $76 billion.
The $83 billion mark set a new high for the sector in nearly 30 days, approaching the $85 billion market cap reached on July 23.
According to data from the decentralized finance (DeFi) aggregation platform DefiLlama, Pump.fun's total value locked (TVL)—a key indicator of the value of assets locked in the protocol—has been steadily increasing. On Sunday, Pump.fun's TVL first hit a peak of $334 million.
DefiLlama data shows that Pump.fun's revenue has exceeded that of the perpetual contract trading platform Hyperliquid for two consecutive days, ranking third in the 24-hour revenue leaderboard among DeFi protocols, only behind stablecoin projects Circle and Tether.
The Pump.fun platform continues to promote the development of its live streaming feature. On Monday, the protocol announced that it had distributed $4 million in rewards to creators, with most of the funds going to first-time participating creators.
Pump.fun founder Alon recently stated that the platform's live streaming feature has "surpassed" Rumble in terms of the average number of concurrent streams.
The co-founder mentioned that they are close to capturing 1% of Twitch's and 10% of Kick's market share. Alon wrote, "We are capturing their market share."
However, third-party data platforms have yet to verify the claims made by Pump.fun's co-founder.
The surge of Pump.fun coincides with the overall enthusiasm in the meme coin sector. Despite the delay in the launch of U.S. ETFs related to meme coins, the price of Dogecoin (DOGE) still rose on Friday.
According to CoinMarketCap data, this meme coin has seen an 11% increase over the past seven days.
In addition to Dogecoin (DOGE), other meme coin tokens such as Memecore (M), Moo Deng (MOODENG), and DORA (DORA) also recorded double-digit percentage increases last week.
Related: Reports indicate that Standard Chartered's venture capital division plans to raise $250 million for a cryptocurrency fund.
Original article: “With the Strong Rise of the Meme Coin Sector in September, Pump.fun's Daily Trading Volume Surpasses $1 Billion”
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