Author: Alex O'Donnell, CoinTelegraph; Compiled by: Whitewater, Golden Finance

According to its platform, SecondLane has listed its stake in memecoin protocol Pump.fun with a fully diluted valuation (FDV) of $1.5 billion.

The private markets trading platform listed a 1% stake in Pump.fun for $15 million on SecondLane’s web app and on SecondLane’s Telegram channel where it announces new products.

The Solana memecoin platform has not yet launched a native token. The company has previously received equity investment from Alliance DAO, Big Brain Holdings and 6th Man Ventures, according to Pitchbook.

Source: SecondLane

In October, the team behind Pump.fun revealed future token issuance and Plans for a new upgraded trading terminal (called “Pump Advance”). The Pump team did not give a specific timetable for future token issuances.

According to DefiLlama, Pump.fun is the eighth-highest-grossing blockchain protocol, ranking just behind giants like USD Coin issuer Circle and decentralized exchange (DEX) Uniswap. Over the past 30 days, Pump.fun generated $86 million in fee revenue.

Source: CoinGecko

Pump.fun's performance comes from the memecoin trading frenzy, which mainly occurred in On Pump.fun’s native Solana (layer 1 blockchain). According to DefiLlama, its cumulative fee revenue exceeds $225 million.

Memecoin’s market capitalization now exceeds $122 billion, driven by venture capital funding and speculation, according to CoinGecko.

Pump.fun promises to let users "launch a token that can be traded instantly for under $2 with just one click," with its "For You algorithm using your past experience on Pump dot fun operations to curate a feed of real-time changes.”

Data from Dune Analytics shows that approximately 98% of potential meme coins on the Pump.fun platformIt was never successfully launched.

Memecoin has elicited mixed reactions from the crypto community. Some influencers, such as Murad Mahmudov, believe that meme coins provide legitimate use cases for cryptocurrencies by eliminating the speculative premium on altcoins.

Others, such as Jimmy Song, believe that Meme coins are a net negative for investors and represent the height of speculative gambling.