Weekly Update: PUMP Token from Pump Fun Experiences 40% Surge Over the Weekend
In a stunning turn of events, the platform Pump.fun has taken the digital world by storm, flipping Rumble in live concurrent viewers and leaving Hyperliquid in its dust when it comes to daily revenue (at just 1/7 of Pump.fun's FDV).
This meteoric rise has been reflected in Pump.fun's token value, which reached a new record of $8.8 billion on Sunday, marking a 64% increase on the week. This surge has been attributed to a variety of factors, including the influx of big streamers, a reignited meme market, and the team's strategic buybacks.
One of the key drivers of Pump.fun's success is its unique flywheel effect. As streamer coins gain volume, they generate fees, which are then returned to creators. This incentivizes more creators to join the platform, leading to more onboarding. This cycle has been instrumental in driving Pump.fun's growth.
A Twitter user named Easy commented on this phenomenon, stating that it's a real-time flywheel at work on Pump.fun, with streamer coins getting volume leading to fees, which are given back to creators, leading to more creators and onboarding.
The platform's success stories are plentiful. For instance, "Mangogirl," a streamer, made $30,000 in creator fees streaming on Pump.fun over 10 days. Even leading Fortnite streamer "Sway" made over $100,000 in creator fees in his first day on Pump.fun.
Over the past week, creators claimed a staggering $20 million in creator fees, with Sunday seeing a new ATH of $3.5 million. Pump.fun currently stands at 2x its ICO price of $4B.
The platform's success has not gone unnoticed, with more crypto native people and even those outside of the crypto sphere streaming on Pump.fun. In fact, big personalities like Alex Becker are teasing new stream (and token) launches on Pump.fun.
Another notable development is the surge of Collector Crypt's CARDS token, which soared to a $750M FDV over the weekend and a new ATH (now back to $570M). Other streamer coins like Pumpathon and BUNCOIN also had a big weekend.
The Pump.fun team has been proactive in its efforts to create success cases by incentivizing high-quality creators and preparing for the mobile app launch, which is expected to onboard the next 10 million users. The team has also bought back $92 million of its token using protocol revenue.
Alon, the founder of Pump.fun, emphasized the role of the creators and community in building Pump.fun as a Solana-based platform enabling users to easily create, trade, and launch meme coins with liquidity support. However, specific individual or group names behind Pump.fun were not detailed in the available sources.
The development and success of Pump.fun have sparked discussions about the next meta in the market: Creator Capital Markets (CCM). As Pump.fun continues to break records and attract big names, it seems that CCM may very well be the next big thing.
In potential breakout status due to the success of streaming, Pump.fun is poised to continue its meteoric rise, revolutionizing the way creators and viewers interact in the digital space.
