Memecoins: The Joke’s on Traders, but Platforms Are Laughing All the Way to the Bank!

by

Ah, memecoins. The glittering treasure chest of blockchain that promises untold riches to every eager soul who dares to dip their toes into its volatile waters. But wait – let’s not get too carried away. While they may pull in the wide-eyed masses, the real money, as always, is flowing into the pockets of those savvy platform operators sitting pretty on their thrones. A recent report from the ever-watchful eyes at Galaxy Research has illuminated this little game of “who gets rich and who gets wrecked.”

The research, released just this Wednesday, paints a picture that’s as bleak for traders as it is sparkling for infrastructure providers. It’s like a casino where the house always wins. Traders, the poor souls, mostly lose their shirts in this short-term, high-risk gambling market, while the real winners – the launchpads, decentralized exchanges, and trading bots – are swimming in profits. But hey, someone’s gotta do the hard work, right?

One shining example of this is Solana’s Pump.fun, a memecoin launchpad that burst onto the scene in early 2024. This little creation machine has now grown into a monster, with tokens launched on the platform racking up a stunning $4.8 billion in fully diluted market value. That’s not just a victory; that’s a victory lap with fireworks and confetti! According to the report, nearly 13 million of the 32 million Solana tokens have come from Pump.fun. That’s an almost 300% increase in less than two years. Pump.fun, it seems, has figured out how to industrialize token creation on Solana. And you know what they say about industrialization – it’s the bread and butter of capitalism. Bon appétit, Pump.fun!

The report’s also got some juicy details about the insanity happening on Solana. Median hold times for memecoins? Oh, they’ve plunged from 300 seconds to just 100 seconds. That’s right, folks. People aren’t even bothering to hold onto their shiny new tokens for a minute before flipping them. You’d think these traders were trying to catch Pokémon, not building their portfolios. But who can blame them? The bots and scalpers are on fire in this marketplace.

And let’s not forget Axiom, a trading platform that has somehow managed to rake in over $200 million in fees with a staff count that wouldn’t fill a high school classroom. Axiom’s brilliant move? It simply collects fees from memecoin traders and laughs all the way to the bank. Meanwhile, tools like BONKbot and Trojan have found their own sweet gig, charging users to automatically snatch up new tokens the moment they drop. It’s like a digital gold rush, and these bots are the prospectors.

Pump.fun Keeps On Rolling

And guess what? The fun doesn’t stop there. Despite the fact that memecoins offer nothing of real value except a good laugh and some cultural significance, platforms like Pump.fun are not only surviving-they’re thriving. On July 12, Pump.fun launched its own token, PUMP, and raised a jaw-dropping $500 million in less than 12 minutes. Talk about a fast cash grab. The ICO was a stunning success, offering a whopping 125 billion tokens to anyone who could pay attention long enough to click ‘buy’.

But wait, there’s more! Between August 11 and August 17, Pump.fun pulled in $13.48 million in revenue, marking its best week since February. They’ve been cranking up the heat ever since, with the platform handling over $1 billion in trading volume just on September 14. That’s right, they crossed the billion-dollar threshold. So much for the little startup nobody thought would make it.

In fact, over the past month, Pump.fun’s memecoin launchpad has raked in about $120 million in fees. I don’t know about you, but that’s a lot of caffeinated joy being poured into their bottom line.

Read More

2025-10-02 01:29