According to recent Dune data, most traders on Pump.fun, a Solana-based memecoin issuance platform, have not yet achieved total profits over 10,000 USD. However, an onchain analyst believes the data does not provide a clear picture of the number of cryptocurrency traders who have actually profited on this platform. "If you've made 10,000 USD trading Pump.fun tokens, you're in the top 0.412% of wallets," said Adam Tehc, an analyst at the Dune chain analysis platform, in a post on X on January 10. Realized profits or losses are only counted after traders have closed their positions (sold the cryptocurrencies they held).

Most Pump.fun traders have not yet received profits over 10,000 USD

According to Dune data, out of a total of 13.55 million Pump.fun wallet addresses, around 55,296 addresses have achieved profits exceeding 10,000 USD. The data shows that achieving six-figure and seven-figure profits is even rarer. Only 0.048% of traders earned over 100,000 USD, while only 0.00217% earned over 1,000,000 USD — around 293 wallets.

Anonymous onchain analyst Alon told their 79,700 X followers in a post on X on January 10 that "buying tokens after they've been paired with Raydium" is overlooked when calculating profits and losses. "Therefore, the actual number of profitable and extremely profitable wallets is likely MUCH HIGHER than the reported figures," Alon said.

Pump.fun achieves high revenues despite the decline in memecoin market capitalization

After providing sufficient liquidity, the memecoins minted on Pump.fun are typically traded on the decentralized exchange Raydium. Alon also noted that the data does not account for unrealized profits - cryptocurrencies with gains that have not yet been sold. Alon said: "Some of the highest-profit wallets are those with deep conviction in the tokens they bought very early on." Meanwhile, Pump.fun's total revenues are nearing 400 million USD despite the overall memecoin market capitalization declining in December. On January 2, the blockchain analytics platform Lookonchain reported that Pump.fun had earned 2,016,391 SOL tokens, bringing its total revenues close to 398 million USD. FOLLOW US ON FACEBOOK | TELEGRAM | TWITTER