On the decentralized trading platform Pump.fun, which specializes in Solana-based memecoins, most traders have not yet managed to accumulate a total profit of more than $10,000, as indicated by recent analysis using Dune.
Yet, some analysts who work with on-chain data contend that the information presented does not provide a straightforward depiction of the number of cryptocurrency traders currently in profit using the platform.
Adam Tehc, an analyst at the on-chain analytics platform Dune, stated in a January 10 post that if someone has made $10,000 by trading Pump.fun’s tokens, they are among the top 0.412% of wallets. This profit or loss is calculated only after traders have sold the crypto they hold.
Most pump.fun traders are yet to realize profits above $10,000
Based on information from Dune, approximately 55,296 out of a total of 13.55 million Pump.fun wallets have earned profits over $10,000.
The data reveals that pulling out six-figure and seven-figure profits was even rarer.
As a crypto investor, I find it fascinating that merely 0.048% of fellow investors have already cashed out over $100,000, while an even smaller fraction, only 0.00217%, has achieved returns above the million-dollar mark – roughly 293 successful wallets so far.
In a recent tweet to his 79,700 X followers on January 10th, the anonymous on-chain analyst Alon advised against purchasing coins that have already been bonded to Raydium, as these transactions are not taken into account when determining profits and losses.
Consequently, Alon suggested that the actual count of highly profitable and very profitable wallets might be MUCH HIGHER than currently shown.
Pump.fun sees strong revenue despite memecoin market cap dip
Once enough liquidity has been established, memecoins produced on the platform Pump.fun are often exchanged on the decentralized trading platform Raydium.
As a crypto investor, I want to highlight that the data we’re looking at does not factor in unrealized profits from cryptocurrencies that haven’t been sold yet. In other words, even if my crypto holdings are showing a paper profit, it doesn’t count as actual earnings until those coins are sold and cash is received.
According to Alon, some of the most lucrative wallets belong to individuals who had strong faith in the value of items they acquired quite early on.
Despite a decline in the total market value of memecoins in December, Pump.fun’s total earnings are approaching $400 million.
On January 2nd, according to the blockchain analysis platform Lookonchain, Pump.fun accumulated approximately 2,016,391 SOL tokens, boosting its overall earnings to almost $398 million.
As a crypto investor, I’ve learned that Pump.fun is said to have stashed away more than $300 million worth of Solana (SOL) tokens into Kraken, the renowned cryptocurrency exchange. Furthermore, they’ve swapped approximately 41 million USD Coins in the process.
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2025-01-11 06:35