Pump.fun, a meme coin launch platform built on Solana, continues to hit significant milestones even as the meme coin market moves past its peak. What’s driving Pump.fun’s continued appeal to investors? This article provides an in-depth look at on-chain data and recent shifts in user sentiment. Pump.fun Surpasses Tron in Daily Revenue, Trails Only Stablecoin Giants. SolanaFloor cites DefiLlama data showing that Pump.fun generated $2 million in revenue within 24 hours. This figure pushed it past Tron and made it the third-highest revenue-generating protocol for the day, behind only Tether and Circle, the leading stablecoin issuers. Daily Revenue on Various Platforms. Source: SolanaFloor Meanwhile, Tron’s daily revenue has remained stable between $1 million and $2 million this year. In contrast, Pump.fun’s revenue has declined from a peak of $7 million. At the same time, the total market cap of meme coins has plunged by 50% since the beginning of the year, according to CoinMarketCap. These numbers show that Pump.fun maintains its growth momentum thanks to an effective business model. It continues to perform well despite ongoing warnings in the meme coin space. A recent report reveals that Pump.fun has surpassed Ethereum in total fee revenue for 2025 and has held the top spot for weekly fee generation for nine consecutive weeks. So, what explains Pump.fun’s surprisingly strong performance? What’s Driving Pump.fun’s Revenue Amid a Cooling Meme Coin Market? One major factor behind Pump.fun’s revenue is PumpSwap, its native token swapping service. Just over a month after launch, PumpSwap is already generating $300,000 in daily revenue. That accounts for 15% of Pump.fun’s total daily income. Daily revenue from Pumpswap. Source: DefiLlama Another factor lies in user psychology. Pump.fun has become a hub where breaking news spreads faster than anywhere else. Many users seize opportunities by launching tokens when they sense that a piece of news might attract major attention. This behavior has reached where information on Pump.fun sometimes surfaces before official announcements on major media channels. “Pump.fun is really the FASTEST news outlet in the world right now. News hits the trenches before they even become news,” Investor Ram said. This mindset has turned Pump.fun into a money-making tool that thrives on the attention economy. As a result, around 30,000 new tokens are created on Pump.fun each day. The platform sees over $300 million daily trading volume, marking a 50% increase in May. It also hosts 350,000 active wallets daily. Thanks to this activity, Pump.fun has helped Solana account for more than 60% of all tokens tracked in the market, according to CoinMarketCap.