May 14, 2024 - Economy

Charted: ⛽️ Pumping revenue

The line chart shows the daily revenue of from March 1 to May 12, 2024, with a significant increase in revenue starting from mid-March and maintaining a high level throughout the period.
Data: DefiLlama; Chart: Axios Visuals is the meme factory on Solana.

  • The team that made it is making lots of money, as the chart above shows: $18 million in less than a year, as of yesterday.
  • It should have a million-dollar day any time now.

Why it matters: The ability to generate thousands of new meme tokens at very low cost, in the hopes that one of them really grabs the public, has been the killer use case on the Solana blockchain this year.

Worth your time: Listen to two of the most successful meme coin traders explain why they believe these tokens work.

By the numbers: Solana's SOL is up 15% since the launch of Pump. There are those who think it will go much higher.

What we're watching: BODEN and TREMP.


Subscribe for more Axios Crypto in your inbox.

Read the full edition