Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Only 0.04% of crypto traders on Pump.fun are making $10,000 or more

Source Cryptopolitan

The apparent success of many investors in the crypto market may hide the fact that most traders have losses. On Pump.fun, a meme token launchpad, only 0.4% of traders have a profit of more than $ 10,000, statistics according to recent data.

According to Adam Tehc, a Dune data analyst, out of the more than 13.4 million wallets on Pump.fun, only 54,724 wallets have made profits of $10,000 or more. However, only 294 have achieved the status of “crypto millionaires” by accumulating gains of more than $1 million—this is 0.002% of all wallets.

Tehc pointed out the difference between reality and perception, saying that “289 Pump.fun millionaires is very low and speaks to the gap between the timeline and reality.” This data does not include the revenues from the purchase of Pump.fun tokens after they are graduated from the platform, which happens when a token has a $100,000 market capitalization.

However, they do allow for token purchases that are made after graduation as long as the initial purchase was made before graduation. The data can also be impacted by bots. Pump.fun has identified a new group of bots known as “bump bots” that make small trades to generate interest in certain tokens.

Although the percentage of very profitable traders among the Pump.fun users remain low, but this figure has steadily increased. A year ago, only 70 wallets had become millionaires, while 11,936 wallets had earned $10,000 or more.

Tehc pointed out that the level of profitability is rising among more experienced traders. Pump.fun is a meme coin platform that was created in January 2024 and has become popular rather quickly. Currently, the platform supports the creation of more than 5.7 million tokens with a total revenue of approximately $392 million. A November report also showed that 88% of users trade meme coins through Pump.fun either lost money or made less than $100 in profits.

Pump.fun has continued its dominance in the Solana network, performing about 70% of all transactions at the beginning of the year. This spike is the highest level of activity on the platform since November. Since its launch in early 2024, Pump.fun has had great success with Solana meme coins like PNUT, GOAT, and FARTCOINs.

As Cryptopolitan reported, Pump.fun is popular among teenagers and young adults, with 64% of website users being under 34. The platform attracts its audience by combining financial and investment content with news and current events.

Controversies and Regulatory Scrutiny

However, not all has been rosy for Pump.fun as it has been experiencing a meteoritic rise and fall at the same time. The platform quicky turned into a playground for high-risk traders, who used any means necessary to promote tokens. In 2024, a new trend of livestream stunt occurred, during which cases of animal cruelty and fake suicide took place. All these actions led the platform to suspend its live-streaming service.

Shortly after, the UK-based Financial Conduct Authority (FCA) issued a notice that advised the public against Pump.fun due to the risks it posed. In response, the platform banned UK-based traders from participating in the platform due to the bans.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Yesterday 06: 34

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

7 hours ago

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

7 hours ago

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Popular Symbols