A recent study by Galaxy Research revealed that while meme coins help attract new users to blockchain systems, the largest financial rewards are generated by the platforms that support their creation and trade.
The study, published on October 1, found that most individuals trading these tokens lose funds, often treating the experience like short-term betting.
Meanwhile, the services that power the trades, such as token launch tools, decentralized exchanges (DEXs), and automated trading bots, generate large income by handling the traffic.
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An example is Pump.fun, a tool on the Solana
Since launching in early 2024, the platform has seen tokens created there reach a combined estimated value of $4.8 billion. Out of the 32 million tokens issued on Solana, nearly 13 million came from Pump.fun, a growth of almost 300% in less than two years.
Galaxy Research noted that the platform has made the process of creating tokens on Solana highly automated and accessible.
The report also found that people are holding meme coins for shorter periods than before. On average, users now keep Solana-based meme coins for just 100 seconds, compared to 300 seconds in 2024.
Additionally, the study mentioned platforms like Axiom, which has earned over $200 million in fees despite a small team. Galaxy noted that Axiom collects these earnings by charging fees on high-volume meme coin trades.
Tools like BONKbot and Trojan also make money by letting users automate token purchases at launch.
Meanwhile, California Governor Gavin Newsom has been developing a meme coin named the “Trump Corruption Coin”. What did he say? Read the full story.
