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Welcome to Lightspeed, the newest addition to the Blockworks Newsletter suite. We are Solana news, analysis and culture, all the time. If that sounds like you, we’re psyched to have you on board. Let’s get into it!

Most traders are unlikely to strike it rich off of memecoins, but it won’t be for a lack of trying.

In the past 24 hours, the memecoin trading platform Pump.fun has brought in around $500,000 in revenue, per DeFiLlama. For context, that’s nearly double Ethereum’s dominant decentralized exchange, Uniswap, and the second highest for protocols writ large — trailing only Ethereum.

Pump.fun lets so-called developers launch tokens without seed liquidity for…

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