Recent onchain data from Dune Analytics reveals that nearly all traders on Pump.fun, a decentralized platform for creating Solana-based memecoins, have yet to realize profits above $10,000. While the platform has seen strong revenue growth, the majority of traders have yet to cash in on significant profits.
According to the data, of the 13.55 million total Pump.fun wallet addresses, only 55,296 have realized profits exceeding $10,000. This suggests that substantial profits on the platform remain elusive for most traders. Even more surprising, pulling out six-figure and seven-figure profits is rarer still. Just 0.048% of traders have realized over $100,000, while only 0.00217% have crossed the $1,000,000 threshold, equating to roughly 293 wallets.
Adam Tehc, an onchain analyst from Dune, highlighted a critical nuance in the data. He pointed out that a realized profit or loss is only calculated once traders have sold their crypto holdings, meaning many traders’ profits remain unrealized. As Tehc shared on X (formerly Twitter) on January 10, “If you’ve realized $10,000 trading Pump.fun’s tokens, you’re a top 0.412% wallet.”
OK.
— Adam (@Adam_Tehc) January 9, 2025
• If you've realized $1,000,000 trading pumpfun's you're a top 0.00217% wallet.
• If you've realized $100,000 trading pumpfun's tokens you're a top 0.048% wallet.
• If you've realized $10,000 trading pumpfun's tokens you're a top 0.412% wallet. https://t.co/LnOwFfs2kk
Pseudonymous analyst Alon added to this perspective, noting that the data does not account for profits on coins purchased after they’ve already bonded to Raydium, a decentralized exchange where most Pump.fun tokens are traded. Alon emphasized that the true number of profitable wallets on the platform is likely much larger than the data suggests, especially when considering unrealized profits.
Despite the ongoing downturn in the memecoin market, Pump.fun continues to generate impressive revenue. On January 2, Blockchain analytics platform Lookonchain reported that the platform had earned over $398 million in total revenue, with 2,016,391 SOL tokens generated. The platform has also deposited over $300 million in SOL tokens to Kraken, signaling robust liquidity and investor interest.
Also Read: Top Crypto Airdrops to Watch in 2025: Pump.fun, Eclipse, Jupiter, and More!
In conclusion, while data shows that a small percentage of traders on Pump.fun have realized significant profits, the true picture of profitability may be much broader, with unrealized profits and early-stage investments still playing a crucial role.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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