The Solana-powered memecoin launchpad Pump.fun has crossed a major milestone, recording over $1 billion in daily trading volume this week as the memecoin market continues its September upswing.
According to data from decentralized exchange aggregator Jupiter, Pump.fun processed around $942 million in transactions on Sunday before breaking through the $1.02 billion mark on Monday. The surge came alongside a broader rise in the memecoin market, which touched a $83 billion market cap over the weekend before settling above $80 billion on Monday. As of now, total capitalization in the sector stands near $76 billion, still close to its highest levels in a month.
That $83 billion peak was the strongest showing for memecoins in 30 days, nearly matching the $85 billion high reached back in late July.
Pump.fun’s DeFi performance continues to climb
Numbers from analytics platform DefiLlama highlighted Pump.fun’s steady momentum across decentralized finance (DeFi) metrics. On Sunday, the project’s total value locked (TVL) — a measure of funds held in its smart contracts — reached an all-time high of $334 million.
In addition, Pump.fun managed to outpace the perpetuals exchange Hyperliquid in daily revenue for two straight days, placing third among all DeFi protocols by income, behind only stablecoin giants Tether and Circle.
The protocol’s recent growth has been boosted by its push into livestreaming. On Monday, Pump.fun announced it had distributed $4 million in rewards to creators, with the majority going to first-time participants.
Co-founder Alon also claimed that Pump.fun’s livestreaming feature has surpassed Rumble in terms of concurrent streams, and is edging toward 1% of Twitch’s market share and around 10% of Kick’s. While bold, these figures have yet to be independently confirmed.
Memecoins in wider rally mode
The breakout for Pump.fun coincides with a broader wave of optimism in the memecoin space. Dogecoin (DOGE) climbed late last week, even after the delay of a U.S.-based exchange-traded fund (ETF) linked to the token. DOGE has posted an 11% gain over the past seven days, according to CoinMarketCap.
Meanwhile, several smaller memecoin projects have also joined the rally. Tokens such as Memecore (M), Moo Deng (MOODENG), and DORA (DORA) all delivered double-digit percentage increases over the last week, reflecting growing momentum across the sector.
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