Pump.Fun Leads Solana Launchpads Amid $66M Loss in August

Popular memecoin launchpad Pump.Fun recorded strong growth in August, with more than 1.3 million active addresses and almost 600,000 new tokens created. This helped the platform secure the top position among Solana-based launchpads. However, most traders lost money, with research shared by Defioasis showing that total losses reached $66 million during the month. PumpFun Reclaims Top Spot in Solana Launchpad Market As shared in a recent X post , about 1.35 million addresses took part in trading on Pump.Fun, and 595,000 new tokens were launched on the platform. With this level of activity, Pump.Fun overtook its rivals once again. Records from Jupiter confirmed that PumpFun captured 46.6% of the Solana launchpad market. In comparison, its closest competitor which saw brief momentum, LetsBonk, managed under 9% of market share with $97.8 million in activity. Data from Dune also showed that PUMP tokens are now held by more than 71,000 wallets. Smaller holders are playing an important role, with 46% of the tokens owned by wallets with fewer than 1,000 tokens. Traders’ Losses on Pump.Fun Outnumber Profits Despite the busy trading activity, losses incurred on Pump.Fun were high. Over 60% of all traders ended the month with losses, totally $66 million. Reportedly, no wallet earned more than $1 million in profits. The biggest group of losing traders were smaller investors. Around 882,000 wallets, or 65.4% of all active addresses, recorded losses between $0 and $1,000. On the other hand, profits were modest. About 416,000 wallets made small gains of under $1,000, with an average of just below $100. Around 18,000 wallets earned between $1,000 and $10,000. Only 1,665 addresses achieved profits above $10,000. Buybacks and Revenue Growth Amid Rising Legal Pressure To support its token, Pump.Fun has been buying back PUMP . In August, it spent $58.7 million, bringing total buybacks to $66.6 million. So far, over 17.5 billion tokens have been repurchased at an average price of $0.0038. PumpFun’s growth can also be seen in its earnings . Since August 6, the platform has been making over $1 million in revenue every day, with trading volumes reaching as high as $210 million in a single day. The platform also charges a 1% fee on each token trade. This has allowed it to collect more than $800 million in lifetime fees, making PumpFun one of the most profitable platforms in the Solana ecosystem. However, despite this growth, Pump.Fun is still facing legal challenges. A class-action lawsuit filed earlier this year claimed that the Pump.Fun operates like an unlicensed casino. The lawsuit also compared its token system to a rigged slot machine. In the updated filing from July, plaintiffs said that total investor losses linked to the platform have already reached $5.5 billion. The post Pump.Fun Leads Solana Launchpads Amid $66M Loss in August appeared first on TheCoinrise.com .