In April 2026, 73.3% of Pump.fun traders were profitable, the highest share in two years, across wallets on Pump.fun and PumpSwap (source: CoinGecko). That is the figure winning every search result, and taken alone it makes the platform sound like a place where most people win, but the real odds are worse.
The headline is a single month, and the most optimistic reading the data allows. It counts a scratch profit the same as a fortune, and it arrives after a long run in which the platform's typical trader lost money. A good month for the venue and good odds for you are two different things.
The number winning the search result
The figure everywhere right now: 73.3% of Pump.fun and PumpSwap wallets were profitable in April 2026, the highest monthly share on record, up from 56.8% in February and 70.0% in March (source: CoinGecko). The two-year high was reported as a real turnaround (source: CoinInsider). Measured across active wallets, it is a real number after a long run of losses.
Taken by itself, that reads like an endorsement, which is how most of the internet is using it. If nearly three-quarters of traders made money last month, surely the odds are good. That inference is where buyers go wrong, because a single strong month tells you little about the base rate, and the headline stays silent on how long the winning lasts, how much the winners actually made, or why the share rose in the first place.
Most of the last two years were losses
Before April 2026, the ordinary month on Pump.fun was a losing one for most traders. From the 2024 launch through late 2025, the profitable share rarely cleared 50%, bottoming at just 30.1% in June 2025 in the same CoinGecko study, meaning roughly seven in ten active traders lost money that month, and the recent climb reverses that norm.
This history matters because it is the base rate the headline erases. A buyer deciding today inherits the venue as it stands, whose typical month, across most of its life, has left the majority of traders down. One good run barely dents that record, and the improvement could fade, especially since the reason behind it has little to do with trading getting easier.
Pump.fun trader profitability has ranged from brutal to briefly good, and the brutal period is far longer than the good one. If you weigh the 73.3%, weigh the 30.1% next to it, because the same platform produced both within a single year.
What being profitable actually bought them
Being profitable on Pump.fun mostly means small gains. In April 2026, the best month on record, 65.1% of all active wallets, about 2.05 million of them, made between $1 and $500 for the whole month, while only 5.4% cleared more than $1,000 (source: CoinGecko). With 73.3% of wallets profitable that month, that means nearly nine in ten winners landed in the $1-to-$500 band, and clearing four figures was the rare exception.
That distribution reframes what "profitable" is worth. A month where you are technically in the green by a few dollars counts the same in the 73.3% as a life-changing win, and the vast majority of the green is the former, before slippage and fees eat into it.
For a buyer the takeaway is that even winning here is usually small, and it sits against the risk of losing your whole position on a coin that goes to zero. The expected value falls short of what a 73% win rate suggests, because the wins are capped by how little most of them are and the losses are capped only by how much you put in.
To trade PUMP as a listed pair instead of chasing launchpad coins, the PUMP/USDT market puts the token on an exchange where each trade's cost is set in advance, and BloFin's fee schedule shows what a position runs before you size it.
Why the rate rose, and what it signals
The most important thing the headline omits is why profitability jumped, and the likeliest reason has little to do with skill. Over the same period, monthly active wallets fell from a peak of 5.2 million in May 2025 to about 1.8 million by December 2025, and CoinGecko's researchers tie the rise to that exodus of unprofitable traders.
This is survivorship, and it changes what the number means. If a venue loses two-thirds of its active traders, mostly the ones who were losing, the remaining, more selective base will naturally show a higher win rate even as trading skill holds flat. A rising profitability share on a shrinking user base is at least as consistent with "the losers left" as with "trading improved," and CoinGecko itself points to the former.
For a buyer, the improved odds may describe the traders who stayed more than the odds you face walking in. Joining now places you in the denominator, among the newcomers the average is about to absorb.
The methodology limits, all pointing one way
The profitability figures come with limits CoinGecko states plainly. The study measures realized profit only, so wallets still holding coins that have fallen stay off the loss column; buy and sell flows are netted per wallet across tokens; bot and wash-trading activity passes through unfiltered; and the denominator counts monthly active wallets alone, everyone who ever traded aside.
Read together, those caveats mean the true outcomes are almost certainly worse than the headline. Excluding unrealized losses omits exactly the people stuck in coins that stayed down, which is a large group on a venue where most coins go to zero. Netting across tokens lets one lucky sale mask several dead bags in the same wallet. And unfiltered bots inflate the active count with actors far removed from the retail trader the number is being read as.
The number reads as a floor on the bad news, with the full picture sitting lower. When a study's own stated limitations all cut in the same direction, the honest reading is that real profitability runs somewhat lower than even the sobering version.
The opposite headline, and the number to keep separate
There is a second figure that circulates just as widely and points the other way: an earlier analysis found that 99.6% of Pump.fun traders had not locked in more than $10,000 in realized profit (source: Cointelegraph). It is from January 2025 and is an all-time measure, so it sits alongside the 73.3% monthly share; the two answer different questions.
Hold both correctly: the 73.3% says most active wallets were up in one recent month; the 99.6% says serious money has reached almost no one, ever. Both can be true because "profitable this month by any amount" and "cleared $10,000 all-time" are entirely different bars: winning here is common in the small and vanishingly rare in the large.
One last number to keep separate: figures you may see about roughly half of PUMP-token holders being in profit describe the PUMP token itself, separate from people trading the coins on the venue. Conflating token holders with venue traders is the easiest mistake on this topic, and the two populations, and their odds, stand apart.
Looking to trade PUMP? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the PUMP/USDT Spot trading page or PUMPUSDT Perpetual page.
Frequently asked questions
Do these profitability numbers cover Pump.fun launches only, or PumpSwap too?
Both. CoinGecko built its sample from wallets active on the launchpad and on its linked exchange PumpSwap, so the profitable share blends people buying brand-new mints with people swapping coins that already graduated. Anyone picturing the odds on one fresh launch is actually reading a broader, calmer mix than that single narrow bet offers.
How many Pump.fun wallets have ever made real money?
Almost none. As of a January 2025 analysis, only about 55,296 wallets out of roughly 13.55 million, around 0.4%, had ever cleared $10,000 in realized profit, and the widely-quoted 99.6% figure is simply the rest. That all-time count is the counterweight to any single strong month: being up by a few dollars in a good month is common, but clearing life-changing money on Pump.fun is vanishingly rare.
What can a monthly win rate really tell me about my own odds?
Less than it appears. A population percentage describes the crowd of wallets that traded in one window, not your entry timing, your position size, or your discipline, so no single person can read a personal probability of profit from it. What it does pin down is the environment: a market where the usual month, across most of the record, has sent the majority of participants home behind.
Is the profitable share measured before or after trading costs?
The study reports realized profit and never states that network gas, priority fees, or per-trade costs are removed first, so read the headline as a gross figure. That gap bites hardest for the large group shown as up by just a handful of dollars, where Solana fees across a busy run of buys and sells can quietly tip a small gain into a loss.
What share of Pump.fun traders lose money in a typical month?
Historically, most of them. Even in April 2026, the strongest month yet recorded, 26.7% of active wallets still finished down, and in the typical earlier month the majority lost, bottoming near seven in ten losing in June 2025. Because the study counts realized profit only, wallets still holding crashed coins are not even booked as losses yet, so the real losing share is higher than the split shows.
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. Primary sources include CoinGecko's Pump.fun trader profitability research and contemporaneous reporting on earlier profitability analysis. All facts independently verified against cited documentation current as of September 2026.
This article is for informational and educational purposes only. It is not financial, investment, trading, or legal advice. Memecoins are extremely high-risk and most lose all their value; profitability figures measure realized outcomes for active wallets and understate losses from unsold positions. Do your own research and never risk funds you cannot afford to lose.