Key facts
- Fomo generated $1.76 million in daily revenue on Friday, surpassing Pump.fun's $1.1 million.
- Pump.fun has generated over $57 million in revenue in the past 30 days, compared to Fomo's $17.6 million.
- Fomo is a social trading platform that combines crypto trading with social media-like features.
- Fomo raised $75 million in a Series B round led by Index Ventures, valuing the company at $550 million.
- Fomo expanded its offerings to include perpetual futures contracts powered by Hyperliquid.
The social trading platform Fomo has surpassed the memecoin launchpad Pump.fun in daily revenue, generating $1.76 million on Friday compared to Pump.fun's $1.1 million. Despite this daily lead, Pump.fun continues to outperform over longer periods, having accumulated over $57 million in revenue in the last 30 days, while Fomo generated $17.6 million in the same timeframe.
Fomo integrates cryptocurrency trading with social media-like features, allowing users to view each other's trades. The platform recently closed a $75 million Series B funding round led by Index Ventures, achieving a valuation of $550 million. Fomo reported that over 68,000 users made their initial cryptocurrency purchase on the platform via Apple Pay, contributing approximately $25 million in transaction volume.
This year, Fomo expanded its services beyond spot trading by launching perpetual futures contracts powered by Hyperliquid for international users. The company also announced it had paid out over $2 million in referral fees to its users.