Social Trading Platform Fomo Tops Pump.fun in Daily Revenue
Summary
- Fomo, a social trading platform, has overtaken Pump.fun in daily revenue.
- Cumulative revenue over the past 30 days still shows a gap, at $57 million for Pump.fun and $17.6 million for Fomo.
- Fomo said it is expanding its user base and service offerings through Apple Pay, a $75 million Series B raise, a $550 million valuation, and perpetual futures trading.
Forecast Trend Report by Period
Social trading platform Fomo has overtaken Solana-based memecoin launchpad Pump.fun in daily revenue, Cointelegraph reported on Sept. 8, citing DefiLlama data.
Fomo generated $1.76 million in revenue on Sept. 4, compared with $1.1 million for Pump.fun on the same day.
Pump.fun still leads in cumulative revenue over a longer period. Over the past 30 days, Pump.fun recorded more than $57 million in revenue, while Fomo posted $17.6 million.
Fomo is a platform that combines cryptocurrency trading with social media features, allowing users to view other investors' trading activity.
The company has also been expanding its user base and service offerings. According to Fomo, more than 68,000 users have made their first cryptocurrency purchase on the platform using Apple Pay, with those transactions totaling about $25 million.
In June, Fomo raised $75 million in a Series B funding round led by Index Ventures, giving it a valuation of $550 million. In the same month, it also launched Hyperliquid-based perpetual futures trading for users outside the US.
According to materials released by Fomo on June 2, the platform has paid out more than $2 million in referral commissions to users.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.