Pump.Enjoyable and Telegram bots accounted for practically $50 million of income in June.
Memecoin-specific purposes made up 5 of the highest 15 revenue-generating merchandise in DeFi for the month of June.
Token launchpad Pump.Fun was the second-highest grossing product, trailing solely Ethereum mainnet, and the platform even flipped Ethereum in 24-hour income on July 1.
Telegram buying and selling bots equivalent to Trojan, BananaGun, Maestro, and BonkBot all made the highest 15 as properly, with Trojan notably producing extra income than Uniswap. These bots collectively introduced in $27.6 million of income over the past 30 days.
Memecoin Supercycle
Crypto Twitter has dubbed 2024 “the memecoin supercycle,” and onchain buying and selling providers have develop into a aggressive discipline for builders over the past 12 months.
The fashionable onchain dealer is now armed with Telegram and Discord bots, pockets trackers, social media trackers, customized RPCs, and power suites to assist them uncover the subsequent PEPE or WIF.
Telegram buying and selling bots had been popularized with the launch of Unibot in 2023, which processed over $3 million in every day quantity at its peak, eclipsing $9 million on a single day in August.
Unibot’s token traded as excessive as a $220 million market capitalization. Nevertheless, because the launch of rivals equivalent to BananaGun and the rise of recognition of Solana memecoins, Unibot’s token has crashed 96%, and the bot ran a median of simply $1.2 million every day over the past week.
However, BananaGun’s token continues to be buying and selling close to an all-time excessive, with a totally diluted valuation of $449 million. BananaGun initially claimed market share from Unibot on account of its bundled bribe characteristic on new token snipes.
Since its launch, BananaGun has continued to combine with different chains equivalent to Solana, Base, and Blast, and traded an average of $19m in quantity per day over the past week.
