Most Influential: Pump.fun

AI Summary3 min read

TL;DR

Pump.fun became a dominant force in crypto by enabling instant token creation on Solana, driving massive trading volumes and speculative frenzy. While fueling innovation, it also led to widespread scams, regulatory scrutiny, and significant retail losses.

Key Takeaways

•Pump.fun enabled instant token creation on Solana with minimal cost, capturing over 80% of Solana-based tokens by mid-2025.
•The platform generated enormous activity, with $150B+ cumulative volume and peak monthly revenue of $138M, but also fueled speculative excess and scams.
•Regulatory actions followed due to fraud allegations, and revenue declined sharply post-hype, though token launchpads remain relevant in DeFi.

Memecoin factory Pump.fun became one of the most influential and polarizing forces in crypto this year, powering a surge of token creation, fueling speculative excess, and testing the limits of retail participation.

This feature is a part of CoinDesk's Most Influential 2025 list.

Launched in early 2024, Pump.fun offers users a way to create a token in seconds for less than two cents' worth of SOL, no coding required. That recipe saw the platform start deploying to over 80% of Solana-based tokens by mid-2025.

That breakneck pace drove up blockchain activity and funneled huge volumes of trading into Solana’s decentralized exchanges, with Pump.fun itself seeing more than $150 billion in cumulative volume according to DeFiLlama.

At its peak, Pump.fun generated $138 million in monthly revenue, with daily spikes as high as $15 million. A defining moment came in July, when its PUMP token sale raised an estimated $500 million in under 12 minutes at a $4 billion fully diluted valuation.

The mania spread quickly. Tokens with names like Fartcoin, Goatseus Maximus, and Peanut the Squirrel saw sudden market caps in the hundreds of millions as memecoin trading fever kept on growing.

But behind the froth was also a darker story. The vast majority of tokens collapsed shortly after launch, often due to scams or bot activity. Long-term holders were rare. Analysts flagged rising retail losses, and regulators took notice. U.S. lawsuits alleged fraud and securities violations.

After the hype peaked, revenue fell sharply, down 80% from the peak. Pump.fun’s influence, however, hasn’t faded, and token launchpads remain a relevant part of the DeFi sector.

As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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