31.5 Tokens Launched Per Minute in New Pump.Fun Record

Pump.fun, a no-code token deployment platform, continues to drive excitement and activity on the Solana network. 

Buoyed by risk-on market conditions, pump.fun recorded a new all-time high in daily token deployments, with over 31.5 new tokens being created per minute.

But despite unprecedented levels of activity, pump.fun is arguably not the biggest benefactor of its success.

45,465 Token Launches, Same Low Graduation Rate

On Sunday, November 17, pump.fun facilitated the launch of 45,465 new tokens, recording a new all-time high in daily deployments. 

Having set new all-time highs twice earlier that same week, pump.fun is showing no signs of slowing down. Dune Analytics data suggests that the number of accounts interacting with pump.fun for the first has been steadily increasing over the last three months.

This steady stream of new users comes following the ‘Crypto President’ Donald Trump’s victory in the U.S. Election. Confidence in the blockchain industry’s future has inspired the general public to take a greater interest in crypto markets, with thousands of traders opting to try their hand in Solana’s flourishing memecoin casino.

Alternatively, pump.fun’s growing user base could also be attributed to the arrival of airdrop farmers. Sapupiju, a pump.fun team member, hinted in a recent 𝕏 post that the platform intended to release a token sometime in the future, with users receiving an allocation based on their previous activity.

Despite the platform witnessing more deployments than ever before, graduation rates remain low. On November 12, only 1.72% of tokens fulfilled their bonding curve and migrated to Raydium, Solana’s biggest DEX by trading volume.

61% of Solana Transactions are Pump.fun Related

Pump.fun’s explosive activity has reaffirmed its position as one of Solana most popular applications. 

Based on Dune Analytics data, over 61% of all network transactions are related to the application. However, it should be noted this figure includes all transactions that feature a pump.fun-launched token. 

Even if the platform ceased operations, any further transfers or trades would still be considered to be pump.fun-related, so long as they include a token launched on the application.

Despite Record Activity, Revenue Trails Trading Bots

While pump.fun has enjoyed a monumental week in terms of token launches and active users, it wasn’t necessarily the biggest benefactor of the frenzy. Despite generating over $1.65M in daily revenue, trading apps continue to take advantage of pump.fun’s thriving success.

According to DefiLlama data, both Photon and BONKbot are proving themselves to be the Solana network’s most valuable apps. Over the course of pump.fun’s historic day, the two trading platforms collectively generated over $4M in revenue.

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