PumpFun Records 1.3M Active Addresses in August but Faces $66M Losses
PumpFun saw record user activity in August, with more than 1.3 million active addresses participating. However, despite the growth in engagement, traders collectively lost $66 million during the month.
Heavy Losses Despite Token Boom
Crypto researcher Defioasis revealed that PumpFun generated 595,000 new tokens in August, helping the platform reclaim the lead among Solana launchpads. Nearly 1.35 million addresses actively traded, but profits remained scarce.
Data shows that about 65.4% of users—roughly 882,000 wallets—suffered losses between $0 and $1,000, averaging $73.41 per wallet. This group alone accounted for over $64 million in combined losses. Meanwhile, 416,000 addresses made small gains of under $1,000 each, while 18,000 wallets earned between $1,000 and $10,000. Only 1,665 traders ended the month with profits above $10,000. Notably, no trader earned over $1 million. 
Buybacks and Market Strategy
To stabilize token value, PumpFun repurchased $58.7 million worth of PUMP tokens in August, absorbing more than 17.5 billion tokens at an average price of $0.003765. This brought total buybacks to over $66.6 million.
Despite the losses, PumpFun’s revenue model remains strong. The platform has generated over $800 million in lifetime fees, mainly from its 1% swap fee on token trades. According to Jupiter, PumpFun now controls 46.6% of the Solana launchpad market, far outpacing rival LetsBonk, which holds less than 9% with $97.8 million in activity. 
Retail Ownership and Legal Challenges
Dune data shows PumpFun has more than 71,000 PUMP holders, with nearly half of tokens distributed among small retail wallets holding fewer than 1,000 tokens. This suggests the platform’s growth is heavily retail-driven.
However, PumpFun is also under legal pressure. A class-action lawsuit filed earlier this year accuses the platform of running like an “unlicensed casino.” The amended filing, submitted in July, claims investor losses exceed $5.5 billion, comparing PumpFun’s mechanics to a “rigged slot machine.”
