Competitors
Pump.fun (CA-Centric Model)
Because Pump.fun is fundamentally centered on CA, streamers will try everything to pump the CA. This makes “hype” and “sensationalism” the core, which naturally breeds violent and extreme content. This is determined by its nature.
- Proliferation of extreme content: To attract attention and “pump,” some streamers resorted to disturbing behaviors on stream, including threats of self-harm, animal abuse, inappropriate content, and reportedly even illegal acts. These extreme streams drew strong criticism from the crypto community and mainstream financial media.
- Feature suspension: Pump.fun indefinitely suspended its livestreaming feature in November 2024.
- Limited relaunch with strict review: In April 2025, Pump.fun relaunched livestreaming to only about 5% of users, with stricter moderation and transparent content guidelines.
Traditional livestreaming platforms (with some Web3 content)
People do stream trading, dog-hunting, airdrop-farming, chain games, and new listings on traditional platforms. Exposure and view counts are decent, typically from dozens to a few hundred viewers by feel. However, they face issues:
- Lack of native trading integration: Traditional platforms do not have built-in crypto trading. Viewers must switch to external exchange apps or sites to follow trades.
- Policy restrictions and ban risk: Platforms like Douyin, Kuaishou, and Twitch are built around traditional content and ad compliance. Crypto trading and new-listing content may involve financial risk, investment advice, or inducement, conflicting with compliance policies. Such streams risk traffic suppression, warnings, or outright bans at any time.
Exchange-run livestream platforms
The approach is similarly “human-driven,” signing KOLs. Active examples include:
- Binance Live (Binance)
- Bitget (BGB)
- Bybit
- Gate (Gate.io)
- MEXC
- KuCoin
Inherent shortcomings of exchange-built livestreaming (based on interviews)
Although centralized exchanges (CEXs) have large user bases and funds, they face notable disadvantages when building their own livestreaming, making it hard to replicate Web3-native platforms: