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The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan

The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan

BlockBeatsBlockBeats2024/08/19 03:01
By:BlockBeats

Nearly 1.8 million tokens have been deployed through pump.fun, but the "graduation rate" is only 1.4%.

Original title: "Unknown pump.fun data: 1.4% graduation rate, only 3% of users earn more than $1,000"
Original author: Karen, Foresight News


What is the real data on the pump.fun platform? What is the "graduation rate" of the token? How many tokens can reach a market value of millions or tens of millions of dollars? What is the real profit situation of users? This article will reveal them one by one.


About the pump.fun platform, in short, Meme tokens can be launched fairly on pump.fun, without pre-sales and team allocations. During the initial launch phase of the tokens, these tokens are traded along the joint curve within the platform. Once the token exceeds the key threshold of $69,000 in market value, $12,000 in liquidity will be deposited in Raydium and destroyed.


As for the fees, the pump.fun platform will charge a 1% exchange fee to trading users during the issuance of Meme tokens, and this fee will continue until the token market value reaches the threshold of 69,000 US dollars. For the creators of the tokens, before the platform policy adjustment (that is, before early August), they need to pay a creation fee of about 0.02 SOL, and after meeting the market value of 69,000 US dollars, they need to pay a migration fee of 2 SOL.


It is worth noting that since early August, pump.fun has introduced new rules, launched a free token creation function, and provided economic incentives for token creators who successfully complete the joint curve. Under the new rules, the creation cost of the token is transferred from the creator to the first buyer of the token, and the creator who successfully completes the joint curve will receive a reward of 0.5 SOL (about 80 US dollars), that is, the migration fee is adjusted to 1.5 SOL.


A total of 1.8 million tokens have been deployed through pump.fun, but the "graduation rate" is only 1.4%


According to the Dune dashboard data provided by Hashed, the number of tokens deployed on the pump.fun platform is close to 1.8 million. Despite the current market volatility and the significant decline in the popularity of Meme tokens, token deployment activities on the pump.fun platform have not decreased, but continued.


The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan image 0


Looking further, the Dune dashboard made by @evelyn233 shows that in the past month, an average of more than 20,000 tokens have been deployed on pump.fun every day. However, among this huge number, only a very small number of tokens can be successfully launched on Raydium (that is, the market value exceeds US$69,000 and meets the "graduation" standard), about 100 to 200. This means that the recent token graduation rate of pump.fun is at a low level of 1% to 2%, and the proportion of tokens that have successfully "graduated" on the entire platform so far is as low as 1.4%. In addition, many tokens that have successfully "graduated" have not performed well in the subsequent market, and their market value is close to zero.


What does a 1.4% graduation rate mean? By analogy with the 985 college entrance examination rate, the 985 college entrance examination rates in Shanxi, Hebei, Hunan, Guangdong and other places in 2023 are all around 2%. It can be seen that it is very difficult for the tokens on the pump.fun platform to successfully "graduate".


In addition, the developer who deployed the most tokens on pump.fun created up to 3,357 tokens, but only 16 tokens successfully "graduated". A total of 10 developer addresses created more than 1,000 tokens, of which the address ranked fifth in the total number of tokens created created a total of 1,915 tokens, but none of them "graduated".


The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan image 1


The probability of a market value of tens of millions of dollars is only one in a hundred thousand


Successful launch on Raydium does not mean that the market value performance of the token will be smooth sailing. Further observing the market performance of the token after migrating from pump.fun to Raydium, we can find that although some tokens have successfully launched transactions on Raydium, it is extremely rare for tokens to cross the threshold of tens of millions of dollars or millions of dollars.


As of writing, among the nearly 1.8 million tokens deployed on the pump.fun platform, only 18 tokens, including michi, DADDY, BILLY, MOTHER, SCF (Smoking Chicken Fish), TrumpAvega, aura, and SC (Shark Cat), have successfully broken through the $10 million mark in market value, and the number of tokens with a market value of more than $1 million is currently only 96.


These data show that the probability of a token created on pump.fun having a market value of more than $10 million is about one in 100,000, and the probability of a market value of more than $1 million is only about five in 100,000. These data reveal the characteristics of fierce competition and low probability of success that are prevalent in the token market.


The proportion of new tokens created through pump.fun is steadily increasing


The following figure shows the ratio of new tokens created through the pump.fun platform to other newly created tokens on the Solana network. It can be observed that the proportion of new tokens deployed by pump.fun has shown a steady upward trend, reaching a ratio of 6:4 in recent days.


The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan image 2


Total fees on pump.fun have reached more than 0.1% of the total supply of SOL


Total fees on pump.fun reached 624,640 SOL, which currently accounts for more than 0.1% of Solana's total supply, equivalent to about $90 million at current market prices. It should be noted that pump.fun has only been launched for 7 months.


In addition, according to Lookonchain, the pump.fun fee account sold 222,073 SOL at an average price of $160 in the past 3 months, converting to 35.54 million USDC.


The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan image 3


2.43 million users, daily active users are in the high range of 50,000 to 70,000


@jhackworth's Dune dashboard data shows that as of the latest statistics, the pump.fun platform has more than 2.43 million users. Over the past three months, the platform has maintained a high daily active user count of 50,000 to 70,000 on most days.


The truth about Pump.fun: Average daily active users: 50,000-70,000, only 3% of users earn over 1,000 yuan image 4


Only 3% of users on pump.fun make more than $1,000


According to @adam_tehc, if you make more than $1,000 in profit, you can rank in the top 3% of the profit rankings.


If you make more than $10 million in profit on pump.fun, you are ranked in the top 6 in terms of profit;


If you make more than $1 million in profit on pump.fun, you are ranked in the top 70 in terms of profit (0.0028% of all wallets);


If you make more than $100,000 in profit on pump.fun, you are ranked in the top 924 in terms of profit (0.037% of all wallets);


If you make more than $10,000 in profit on pump.fun, you are ranked in the top 11,936 in terms of profit (0.477% of all wallets);


If you make more than $1,000 in profit on pump.fun, you are ranked in the top 76,587 in terms of profit (0.006% of all wallets). 3.061%).


In summary, even though the overall performance of the current cryptocurrency market is relatively sluggish and Solana's popularity has slightly declined, pump.fun's user base and activity remain robust. Based on existing data, if pump.fun can continue to maintain user activity, pump.fun is expected to continue to receive stable fee income.


However, we must also be aware that there are a series of unfavorable factors that cannot be ignored. In particular, the extremely low "graduation rate" of tokens and the lack of market value growth in the later period, coupled with the unsatisfactory user profitability, have had a significant impact on user confidence. In the short to medium term, this wavering of confidence will directly affect the platform's user retention rate and the attractiveness of new users in the short to medium term.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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