Pump.fun, a new memecoin launch and trading platform, has made $5.2 million in revenue over the past 38 days, generating $528,000 in fees just yesterday alone, according to The Block’s data dashboard.

The platform was initially launched for Solana tokens in January and subsequently added support for the Ethereum Layer 2 network Blast in February.

It has attracted significant attention from the crypto community by allowing anyone to create and launch an instantly tradable new token without seed liquidity for less than $2 in under a minute.

Pump claims it prevents rugpulls by ensuring the safety of tokens created on the platform. “Each coin on Pump is a fair-launch with no presale and no team allocation,” the project states. 

How pump.fun works

Deployers simply pick a name, …