Pump.Fun and Telegram bots accounted for nearly $50 million of revenue in June.
Memecoin-specific applications made up five of the top 15 revenue-generating products in DeFi for the month of June.
Token launchpad Pump.Fun was the second-highest grossing product, trailing only Ethereum mainnet, and the platform even flipped Ethereum in 24-hour revenue on July 1.
Telegram trading bots such as Trojan, BananaGun, Maestro, and BonkBot all made the top 15 as well, with Trojan notably generating more revenue than Uniswap. These bots collectively brought in $27.6 million of revenue over the last 30 days.
Memecoin Supercycle
Crypto Twitter has dubbed 2024 “the memecoin supercycle,” and onchain trading services have become a competitive field for developers over the last year.
The modern onchain trader is now armed with Telegram and Discord bots, wallet trackers, social media trackers, custom RPCs, and tool suites to help them discover the next PEPE or WIF.
Telegram trading bots were popularized with the launch of Unibot in 2023, which processed over $3 million in daily volume at its peak, eclipsing $9 million on a single day in August.
Unibot’s token traded as high as a $220 million market capitalization. However, since the launch of competitors such as BananaGun and the rise of popularity of Solana memecoins, Unibot’s token has crashed 96%, and the bot ran an average of just $1.2 million daily over the last week.
On the other hand, BananaGun’s token is still trading near an all-time high, with a fully diluted valuation of $449 million. BananaGun originally claimed market share from Unibot due to its bundled bribe feature on new token snipes.
Since its launch, BananaGun has continued to integrate with other chains such as Solana, Base, and Blast, and traded an average of $19m in volume per day over the last week.
This news is republished from another source.
