YEREVAN (CoinChapter.com) —  Knowledge from Dune reveals that 99.6% of Pump.enjoyable merchants have but to attain greater than $10,000 in realized income. Pump.enjoyable, a decentralized platform for creating Solana-based memecoins, has over 13.55 million pockets addresses. Amongst these, solely 55,296 wallets have exceeded the $10,000 revenue mark.

Income past $100,000 are even rarer. Solely 0.048% of wallets, or roughly 6,504, have realized income above this quantity. Excessive-profit merchants are extraordinarily restricted, with simply 293 wallets, or 0.00217%, surpassing $1 million in realized income.

Dune analyst Adam Tehc defined on Jan. 10 in an X put up that wallets reaching $10,000 in revenue are a part of the highest 0.412% of all Pump.enjoyable customers. Realized income, as outlined by analysts, solely rely when merchants promote their holdings.

Knowledge Could Underrepresent Worthwhile Pump.enjoyable Wallets

Onchain analyst Alon highlighted information discrepancies and recognized incomplete revenue calculations. Alon knowledgeable their 79,700 X followers on January 10 that the figures exclude wallets making the most of cash bought after bonding with Raydium.

“Buying coins after they have already bonded to Raydium is omitted when calculating profit and loss,”

Alon acknowledged. This oversight means the variety of worthwhile wallets could possibly be increased than the information signifies.

Moreover, unrealized income—cryptocurrency held however not but offered—aren’t included within the analysis. Alon famous that among the most worthwhile wallets belong to merchants holding property they acquired early of their lifecycle.

Regardless of the restricted variety of high-profit wallets, Pump.enjoyable has generated almost $400 million in income. In keeping with Lookonchain, the platform has earned 2,016,391 SOL tokens as of January 2, equal to $398 million.

Reviews additionally point out that Pump.enjoyable deposited over $300 million in SOL tokens to the Kraken trade, changing $41 million into USD Coin. This income was achieved regardless of a drop within the total memecoin market capitalization in December.

Liquidity Boosting Helps Memecoin Trading

Pump.enjoyable operates by serving to memecoins bootstrap liquidity. Afterward, these tokens are traded on decentralized exchanges like Raydium. This mannequin has enabled the platform to keep up robust income whereas supporting memecoin buying and selling exercise.

Whereas the information highlights the challenges merchants face in securing vital income, extra analysis suggests unrealized positive factors and ignored transactions might imply extra merchants are seeing success than initially reported.