The memecoin market is once again stealing the spotlight. Solana-based launchpad Pump.fun recorded over $1 billion in daily trading volume on Monday, marking a major milestone for the rapidly growing platform. This surge reflects the renewed enthusiasm across the broader memecoin ecosystem, which has seen its market capitalization soar in September.
Pump.fun Hits $1B in Daily Volume
According to data from decentralized exchange (DEX) Jupiter, Pump.fun processed $942 million in trading volume on Sunday, followed by a record-breaking $1.02 billion on Monday. The spike came as the memecoin sectorâs total market capitalization climbed to $83 billion, its highest point in the last 30 days.
Although the market has since cooled slightly to $76 billion, the figure still represents a powerful comeback for the sector, which had previously peaked at $85 billion on July 23.
Growing DeFi Metrics Boost Pump.fun
Beyond raw trading activity, Pump.funâs DeFi growth indicators suggest sustained momentum. Data from DefiLlama shows that the platformâs total value locked (TVL) â a measure of the assets deposited in smart contracts â hit $334 million for the first time on Sunday.
Even more impressive, Pump.fun has surpassed perpetuals exchange Hyperliquid in daily revenue for two straight days. It ranked third in DeFi revenue, trailing only behind Circle and Tether, the issuers of leading stablecoins.
Pump.fun is also diversifying its product offerings. The protocol recently revealed it paid out $4 million in creator rewards on Monday, with most of the payouts going to first-time creators.
In addition, its livestreaming feature is gaining traction. Co-founder Alon claimed that Pump.fun has âflippedâ Rumble in average concurrent livestreams and is capturing 1% of Twitchâs market share and 10% of Kickâs share. While third-party data hasnât confirmed these numbers, the push highlights Pump.funâs ambition to expand beyond token launches into broader digital entertainment.
Memecoins Drive Market Momentum
The breakout on Pump.fun aligns with renewed energy across the memecoin sector. Dogecoin (DOGE), the largest memecoin by market cap, saw an 11% weekly gain, despite delays in the approval of a U.S.-based Dogecoin ETF.
Other memecoins, including Memecore (M), Moo Deng (MOODENG), and DORA (DORA), recorded double-digit gains in the past week, reflecting rising speculative appetite among traders.
The surge in Pump.funâs volume and the broader $80+ billion memecoin rally highlight that speculative assets remain a key driver in the crypto market. While traditional investors often dismiss memecoins as short-term fads, their trading activity continues to bring liquidity, attention, and innovation to the decentralized finance (DeFi) space.
The fact that a single platform like Pump.fun can process over $1 billion in daily trades underscores the strong demand for memecoins, even in an uncertain market environment. If this momentum continues, memecoins may play an even larger role in the next wave of crypto adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.