Pump.fun Revenue Plummets After Livestream Feature Suspension
- There was a sharp decline in platform revenue from November 25th to December 1st.
- The companys sales for the week came to $11.31 million, reversing its increasing trend.
After disabling its livestream option in reaction to concerns of hazardous material being broadcast, the launchpad for Solana meme coins Pump.fun saw a decline in its weekly income. The Solana memecoin generator had a rise in income at the beginning of November, which peaked in the fourth week.
The memecoin launchpad made $33.83 million during the week of November 18th24th, according to DefiLlama statistics. A 60% rise from last week and over 400% from the beginning of the month, this is quite an increase.
But there was a sharp decline in platform revenue from November 25th to December 1st. According to DefiLlamas numbers, the companys sales for the week came to $11.31 million, reversing its increasing trend. When compared to the previous week, the statistic shows a 66% decline.
Forced to Disable Feature
Some users began to engage in harmful activities in an effort to pump their new tokens, which led to a decline in income. As a result, community members demanded that the company stop its livestream feature.
A user on the livestream threatened to take their own life if their coin didnt achieve a certain market cap, according to Beau, the Pudgy Penguins safety project manager, who made the complaint on November 25. The expert in safety marked Pump.fun on X, pleading with the platform to step in, stop the broadcast, and help the streamer.
Similar incidents with people purportedly threatening viewers to do violent actions were reported by other social media users. Some X users have reported incidents of man-threatening-a-dog and streamer-threatening-a-school, respectively. Due to an upsurge in violent content, the livestream capability was disabled by the Pump.fun team.
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Read more: https://thenewscrypto.com/pump-fun-revenue-plummets-after-livestream-feature-suspension/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
