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Pump.fun officially announced Project Ascend, an initiative to boost creator earnings and project sustainability on the Solana network.

Pump.fun's revenue dropped to $15.4 million, losing significant market share to competitor Bonkfun, which captured 77% of the market.

Pump.fun's revenue recovered to $35 million, reclaiming 68.2% of Solana's launchpad market dominance and buying back nearly $44.5 million of its PUMP token.

Following the announcement of Project Ascend, the PUMP token price surged by 14%, reaching a market capitalization of $1.33 billion.