Trading volume on the pump. A major Solana-based token launchpad declined by 63% in February, erasing the investor’s confidence after a string of high-profile memecoin scams.
According to data from a dune analytics, the pump. Volume decreased from $ 119 billion in January to $ 44 billion in February, the lowest after October 2024 ScatterThe new token launch of pump.fun has also decreased significantly, which has increased from 58,000 to 24,000 March every day in early February.
In addition, the platform’s token graduation rate has come down from 1.85% to 0.83% per week, which means that the $ 100,000 required to listed on low tokens is reaching the market assessment.
Despite the lowest of February trading volume since October 2024, it produced $ 74 million in revenue in the last 30 days. The total fees of the platform have reached $ 580 million and 8.2 million tokens.
In other high profile memecoin scams such as Trump and Melania, the Libra Memcoin Scandal was a major turn. In mid -February, Argentina President Xavier Milli supported the Libra Memcoin, eliminating more than $ 120 million before the sudden accident, accused of pulling a rug.
The incident damaged confidence in Memcoin, causing a decline in the market. Pump.fun is trying to improve its features to attract more developers and traders. With the release of a mobile app recently, the platform has teased plans for a native automatic market maker.
An AMM is a decentralized trading system that uses liquidity pool in place of traditional order books. Integrating an AMM can help pump.
Despite the challenges faced by pupp.fun, Solan (SOL) dominates decentralized exchanges. According to defilama dataSolana topped the dex business for the fifth straight month, overtaking the Etharium (ETH) by 24%, reaching $ 109 billion. Radium (Ray), Metora, and Orca continued to run liquidity, maintaining the Defy ecosystem of Solana despite the loss of memecoin.
