Lookonchain has reported that the Moonshot app, where you can buy & sell memes easily with Apple Pay, Crypto or Paypal generated impressive revenue.
It reached $498,000 over the past 30 days, reflecting a staggering 1,657% month-over-month growth. The platform currently attracts around 4,000 distinct daily users.
What Led to the 1,657% Surge?
A crypto researcher named Jarseed noted, “When mass adoption happens on Solana—how to identify which meme coins retail investors are flocking to through trading behaviour on Moonshot?” In their view, the app has successfully drawn users in for several reasons.
According to the researcher, a lot of popular exchange apps are extremely complicated, making it difficult for novice users to utilise them. Consumers frequently seek a simple method of purchasing crypto without being overloaded with features and intricate trading lingo.
With a UI/UX similar to Robinhood, Moonshot makes this simple and makes it easy for users to buy cryptocurrency assets rapidly.
Second, he made the point that experienced cryptocurrency users are well aware that moving money between exchanges has been a recurring problem. Through its collaboration with Moonpay, Moonshot has expedited this procedure, enabling consumers to effortlessly acquire cryptocurrency assets using credit cards and AppPay following KYC verification. The goal of this hassle-free, one-click experience is to draw in more users.
Lastly, the platform is quick to list new tokens, demonstrating a keen sense for trending assets. Recently, the hype surrounding meme coins like GOAT and SPX has significantly boosted Moonshot’s visibility and traffic. This highlights a critical disparity between CEXs and smaller projects; while CEXs require extensive preparations for listing assets, Moonshot can quickly connect to the Jupiter network to facilitate listings.
A Solution for Memecoin Traders?
If Moonshot is effectively bridging the last mile for retail investors looking to dive into meme coins, the data supporting this growth will undoubtedly interest many. Dune Analytics has compiled statistics detailing daily meme coin trading activity on Moonshot within the Solana network, inviting investors to explore this new opportunity and enjoy the experience.
Many crypto researchers pointed out that the surge in Moonshot’s popularity coincides with the ongoing trend of memecoins gaining traction in the market. Memecoins, which started as humorous and whimsical tokens, have captured the attention of a diverse range of investors, from casual traders to serious enthusiasts.
Their appeal is amplified by social media trends, community engagement, and the thrill of speculation, creating a vibrant ecosystem that encourages trading and investment.