Solana Launchpad Pump.fun Buys Back $15M in Tokens, Market Cap Reclaims $1B

• Pump.fun repurchased $15M of PUMP tokens in two weeks.
• Market cap reclaimed $1B, with price up 32% in 30 days.
• Buybacks now only 20% above spot, down from 40%.
• Token still trades 20% below ICO and 52% under July peak.
• Daily revenue >$1M since Aug. 6, with $210M 24h trading volume.
• Captured 86% of Solana token graduations, surpassing rivals.
• Solana DEX activity slowing, but Pump.fun dominates memecoin flows.

Pump.fun, Solana’s leading memecoin launchpad, has been on a strong rebound, buying back around $15 million worth of its native PUMP token over the past two weeks. The move helped push PUMP’s market capitalization back above $1 billion, according to The Block’s data dashboard.

The token has rallied more than 32% in the past month, now trading at $0.0032. This recovery follows a series of aggressive, fee-funded buybacks that often executed well above spot prices. Earlier in August, average repurchases were more than 40% above market; that gap has now narrowed to around 20%, with the average cost basis falling from $0.0058 to $0.003841, per data from onchain analyst @adam_tehc.

Even so, market prices are still about 20% below PUMP’s $0.004 ICO price, and more than 52% down from the July 16 peak.

Despite that, Pump.fun’s business metrics are surging. Daily platform revenue has topped $1 million every day since Aug. 6, while launchpad trading volumes hit $210 million in the last 24 hours. Pump.fun has also captured 86% of Solana token graduations, reaffirming dominance over rivals like LetsBonk. Just last week, the platform crossed $800 million in lifetime revenue.

This strong growth comes as Solana’s broader DEX activity cools. Daily active DEX users across the network dropped below 1 million for three consecutive days — the first time in months. The trend suggests memecoin activity is becoming increasingly concentrated on Pump.fun, even as overall DeFi participation on Solana softens.

Final Thought

Pump.fun’s aggressive buybacks and surging revenues have reignited momentum for its native token, even as Solana’s wider DeFi activity cools. With dominance in the memecoin launchpad space and nearly $1 billion in lifetime revenue on the horizon, Pump.fun is consolidating power in a niche that continues to capture retail attention. The divergence between its growth and Solana’s broader slowdown highlights just how central memecoins have become to the network’s activity.