Key Takeaways
- Pump.fun flipped Hyperliquid in 24-hour protocol revenues, ranking it third under Tether and Circle.
- Memecoins recorded over $9 billion in 24-hour trading volumes.
- The PUMP token has been trading up over 70% in the past 7 days.
Memecoin mania may be here as Pump.fun clocks over $1 billion in 24-hour trading volumes.
It follows the platform’s implementation of “Project Ascend”, an initiative that restructured token creator payouts, fees, and launched a significant PUMP token buyback scheme.
Memecoins Up
According to data from the Solana-based decentralized exchange (DEX) Jupiter, Pump.fun recorded a total trading volume of $1.02 billion on Sept. 15, up from $940 million the previous day.
Around $270 million has been recorded so far today. The news coincides with an overall uptick in Pump.fun activity.
After a major dip in daily token creation throughout July 2025, active addresses and new accounts, the memecoin machine is back on form, with tens of thousands of tokens launching every day.
According to DeFiLlama, Pump.fun has overtaken Hyperliquid to become the third-highest-earning protocol by revenue under stablecoin giants Tether and Circle.
However, that’s only in the past 24 hours, as Hyperliquid maintains its position in weekly and monthly revenues by more than double.
In addition, the total value locked (TVL) on Pump.fun has reached an all-time high of $334.81 million on Sept. 14. It stands at $319.71 million at the time of writing on Sept. 16.
As per CoinGecko, memecoins recorded over $9 billion in 24-hour trading volumes.
Project Ascend
As platform metrics slid, the launch of the platform’s native token, PUMP, did little to reassure users of Pump.fun’s long-term prospects.
Initially, the PUMP token plummeted in value, bottoming out at $0.0023 from $0.0071 within two weeks of launch.
However, upon the rollout of “Project Ascend” at the beginning of Septemer, faith appears to have been restored.
With improved earnings for high-market-cap token creators, higher fees for lower ones, and a massive token buyback scheme, users are flocking back to the platform and the token.
As of Sept. 16, the PUMP token is trading up 1.4% in the past 24 hours and 71.19% for the past week at $0.008, above its launch price.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
