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You are here: Home / Archives for pump.fun

pump.fun

Pump.fun Moves $16M SOL to Kraken Amid Solana Meme Revival

May 3, 2025 by Onyi

  • Pump.fun recently transferred 105,233 SOL to Kraken, bringing its total exchange transfers to over 3.2 million SOL.
  • The platform’s frequent profit-taking has sparked debate in the crypto community, with some worried about its impact on SOL’s price and ecosystem stability.

Pump.fun, the viral meme coin launchpad platform on the Solana network, is back in the spotlight after the platform moved almost $15.8 million, worth 105,000 in SOL, to Kraken.

According to data shared on X by Lookonchain, Pump.fun sent 105,233 SOL worth $15.86 million at the time to Kraken. This latest move brings the platform’s total transfers to the crypto exchange to 3,202,498 SOL, valued at approximately $591 million based on a price of $185 per coin.

Pumpfun(@pumpdotfun) just deposited 105,233 $SOL($15.86M) to #Kraken again.

So far, #Pumpfun has deposited 3,202,498 $SOL($591M) to #Kraken at $185 and sold 264,373 $SOL for 41.64M $USDC at $158.https://t.co/5RILtJP0wu pic.twitter.com/JJZHOku8XB

— Lookonchain (@lookonchain) May 2, 2025

Pump.fun’s Strategic Moves Since Inception 

This big transfer sparked conversations within the crypto community, with many suggesting that the platform is taking profits as Solana meme coins gain attention again. On-chain data also shows that Pump.fun made big transfers to Kraken in January, February, late March, and early April.

But due to how often the platform has taken profit, many people believe it could hurt the SOL price and the network in general. While there are concerns about fairness and long-term effects, the moves still seem to reflect growing optimism in the space.

The calculated move also reinforces the narrative that major players and whales often act ahead of the crowd, locking in on gains while others are just getting started.

Since last year, Pump.fun has grown into one of the key names involved in the Solana meme token space, giving users a simple way to create and swap tokens quickly. The site makes money through fees and also gains from the assets it helps launch, allowing it to earn during the ups and downs of the market.

Related Reading | Bitcoin Reserve Proposal Rejected by Arizona Governor





Filed Under: News, Altcoin News Tagged With: pump.fun, solana, solana memecoin

Crypto Crash Deepens as Over 50% of Coins Launched Since 2021 Fail, Leaving $3.7 Million Dead After Pump. fun era

May 1, 2025 by Onyi

  • Over 50% of all cryptocurrencies launched since 2021 have failed, with 3.7 million tokens disappearing.
  • Q1 2025 alone attributed to 1.8 million token failures and token shutdowns in the last five years, possibly linked to market instability following Donald Trump’s January 2025 return to office.


Crypto has seen over 3.7 million tokens disappear since 2021. Nearly half of these token shutdowns came about during the Pump.fun memecoin wave. In total, more than half of all the cryptocurrencies ever created are no longer active and are now considered failures.

According to a report by GeckoTerminal, a research pricing platform, crypto has seen millions of tokens disappear since 2021, with almost half of those losses happening in 2024 and early 2025. CoinGecko, being a crypto listing platform, highlighted that about 52.7% of all listed projects have failed, most especially during this recent time.

Screenshot 20250430 130927 Chrome
Crypto Crash Deepens as Over 50% of Coins Launched Since 2021 Fail, Leaving $3.7 Million Dead After Pump. fun era 2

The platform also recorded that the number of crypto projects has grown fast. In 2021, GeckoTerminal had about 428,000 crypto/altcoins listed. By 2025, that figure rose to almost 7 million. The rise in its number is mostly because of pump.fun, a tool that made creating and marketing tokens easy, causing a wave of meme coins and basic projects to enter the space.

Q1 Crypto 2025 Crash Fuels Record Token Losses

By March 31st, 2025, the platform recorded that 1.8 million crypto projects had shut down, marking the highest yearly total ever seen. These closures made up 49.7% of all token failures from 2021 to 2025. In 2024, nearly 1.4 million projects disappeared, making up 37.7% of failures over the five-year span.

Although 2024 had the most launches, with over 3 million new tokens launched, it also showed signs of trouble. Before pump.fun launched in 2024, the yearly amount of crypto failures was much lower, staying within the six-digit range. Between 2021 and 2023, shutdowns only made up 12.6% of the total.

However, it could be said that the huge wave of closures in Q1 of this year may be linked to overall market weakness, especially after Donald Trump’s return to office in January.

Read More: Crypto Casinos: Best Instant Payout Bitcoin Casinos With EXCLUSIVE Bonuses! (April 2025)

Filed Under: News, Market Analysis Tagged With: Crypto, Crypto crash, Crypto Crash News, pump.fun

Pump.fun Brings Back Livestreams for Some Users with New Safety Rules

April 7, 2025 by Onyi

  • Pump.fun has reintroduced its livestreaming feature to only 5% of users with a more strict regulation put in to prevent harmful content and improve user safety.
  • The platform initially suspended livestreams in November 2024 after disturbing incidents, including threats and a possible case of self-harm.

Pump.fun, the popular meme coin platform on Solana, has brought back its live streaming option after it stopped five months ago due to harmful videos. The streaming feature is available to only 5% of users and is made up of new and  stronger rules to keep the platform safe and protect its users.

The co-founder of Pump.fun, Alon Cohen, has said that the livestream option is back with more safety tools in place. And only a small group of people can make use of it while the team tries to test the new system. 

pump fun livestreaming has been rolled out to 5% of users with industry standard moderation systems in place and transparent guidelines: https://t.co/26r5M4Awam

— alon (@a1lon9) April 4, 2025

This new updated policy tries to balance the platform’s fun and safety by allowing free speech and also blocking harmful or illegal posts. These rules help restrict content on violence, abuse, adult material, and content that could harm children. According to Pump.fun, breaking the set rules more than once or in a serious way may lead to losing access. 

The team also gets to decide on some uncertain cases. Some adult content may still appear, but it will be properly checked using both tech and human review.

Pump.fun Stopped Livestreams in 2024

In November 2024, Pump.fun removed the live streaming option after some events caused public concern. Some of the platform users were sharing harmful videos that were life-threatening, and there was one case where a user said he was going to inflict harm after a coin failed to reach ‘his’ desired goal. 

Hey @pumpdotfun there is currently someone using your livestreams to threaten to hang themselves if the coin does not reach a set marketcap.

Absolutely heinous and It needs to come down + see if you can get them help.

Shut down the livestream feature. This is out of control.

— Beau (@beausecurity) November 25, 2024

The community criticized the platform, with other safety experts and popular figures calling out the platform’s lack of action. In reply to the criticism, Pump.fun paused the feature and promised to improve its safety steps. Around the same time, the project also ran into legal problems, which would require it to stop operations and lawsuits for using other people’s ideas without permission.

Pump.fun’s decision to come back while implementing safety measures shows that the platform wants to earn back users’ trust and give a more secure way to share with others. This flexible plan shows the team’s promise to grow with its users and handle every problem as it come.

Related Reading | Dogecoin Price Chart Echoes 2017 Before 9,000% Rally: Is It Happening Again?

Filed Under: News, World Tagged With: Cryptocurrency, pump.fun

Pump.Fun Expands With 50 Engineers to Transform Memecoin Trading

March 27, 2025 by Mishal Ali

Key Takeaways

  • Pump.Fun plans to introduce Creator Revenue Sharing, reinvesting all revenue into product development.
  • Memecoins play a controversial but influential role in the crypto ecosystem.
  • PumpSwap aims to reshape memecoin trading with new sustainability features.

Pump.Fun, a top memecoin platform, is preparing the ground for the next step with the introduction of Creator Revenue Sharing. According to co-founder Alon, every dollar of the $600 million in revenue has gone back into the development of the product and not into the hands of investors.

This action is consistent with their commitment to building the platform’s services and offering constant innovation within the token launchpad environment.

LIVE NOW – The Next Chapter for https://t.co/Ufk15b7h2y with Co-Founder Alon@a1lon9, co-founder of @pumpdotfun, joins us to discuss the meteoric rise of their token launchpad platform, the controversial yet impactful role of memecoins in crypto, and the vision behind their… pic.twitter.com/T1BPT1SgDJ

— Bankless (@BanklessHQ) March 25, 2025

Today, Pump.Fun employs 45 to 50 individuals who are primarily engineers. The fact that the firm is placing importance on technical staff shows an initiative to strengthen its infrastructure and launch new products that will further solidify the position of the firm in the market.

Content creators who release tokens on the platform can directly benefit from the addition of the revenue-sharing aspect, potentially increasing user activity and token diversity.

Pump.Fun’s Role in the Evolution of Meme-Driven Trading

Memecoins have long been the object of much debate within the crypto community and have traditionally been perceived as speculative coins with no intrinsic value. However, websites like Pump.Fun have demonstrated that such coins have cultural significance and drive investor sentiment and trigger new cycles of adoption.

On the Bankless podcast, Alon discussed the influence Pump.Fun has had on the memecoin ecosystem and the development of viral token launches and meme-based trading strategies.

Though memecoins are still risky investments, their popularity cannot be denied. It is notable that several projects that were initiated using Pump.Fun have attained high market caps prior to their decline, reflecting the fast speculative cycles within the sector.

Despite this, Alon emphasized minimizing extractive behaviors and implemented mechanisms to ensure memecoins are sustainable. These consist of moderation efforts to prevent scams and rug pulls, making it a more secure environment for creators and traders alike.

Memecoins as a Gateway to Blockchain Innovation

One of the latest innovations from Pump.Fun is PumpSwap, a new product designed to simplify the trading of memecoins. Not much is known about the details yet, but Alon promised functionality that would introduce greater liquidity and stability into this very volatile market.

This launch is a step towards legalizing memecoin trading through the provision of solutions improving transparency and efficiency.

The conversation also touched on the bigger future of memecoins. Alon argued that even if there are critics who view these tokens as speculative bubbles, they have a definite cultural and financial impact.

Memecoins continue to attract new investors, grow in popularity, and even serve as a testing ground for increased use of blockchain. The growth of Pump.Fun’s ecosystem could have a significant part to play in writing the next chapter in the book of memecoin trading history.

Related Reading | Bitcoin (BTC) Faces $89K Test: Will the Bull Trend Hold?

Filed Under: News Tagged With: Cryptocurrency, Memecoins, pump.fun

TRON and Pump.fun Unite to Launch PumpSwap, Connecting SOL and TRX for Better Liquidity

March 22, 2025 by Onyi

  • TRON DAO and Pump.fun have come together to launch PumpSwap, a decentralized exchange (DEX) that enhances liquidity, simplifies token trading, and supports all cross chain transactions between TRX and Solana.
  • Pump.fun is also introducing a revenue-sharing model that would allow token creators to earn from fees while leveraging LayerZero and Wormhole.

TRON DAO has partnered with Pump.fun to create PumpSwap, a new decentralized exchange (DEX) with built-in ‘pump features’. The aim of this platform is to improve liquidity by using its token launchpad on Solana, this would make trading smoother and more efficient.

#TRON is thrilled to announce its collaboration with @pumpdotfun.

TRON’s involvement in this initiative further strengthens its commitment to cross-chain innovation and the expansion of decentralized finance (DeFi) access. As PumpSwap grows, it aims to become a key liquidity… https://t.co/ypOUj2pT82

— TRON DAO (@trondao) March 20, 2025

TRON DAO & Pump.fun Launch PumpSwap

TRON DAO, a blockchain focused community platform, has joined forces with Pump.fun to launch PumpSwap, designed to improve liquidity and cross-chain access. Unlike other DEXs, PumpSwap connects directly to Pump.fun, making trading tokens smoother by removing migration steps and allowing instant liquidity management.The platform also introduces a revenue sharing model for token creators, so as to simplify liquidity control.

Pump.fun is also set out to allow token creators earn a part of the fees from their tokens, this way, creators and holders benefit. This system would help promote a vital and more lasting ecosystem for memecoins and other tokens. The platform also aims to connect different blockchains systems using LayerZero and Wormhole, to allow cross-chain trading easier.

This collaboration supports TRON’s goal of wanting to be at the forefront of expanding decentralized finance (DeFi) and strengthening its blockchain connections. 

This announcement came after Justin Sun’s post on X on the 18th March, where he teased about an upcoming collaboration that suggested plans to introduce TRX on Solana, with the goal of strengthening TRON’s reach in the network. Sun emphasized that the partnership between these two platforms would improve liquidity across different blockchains and make access easier. 

TRON DAO is a more community focused  organization that has interests in making the internet more decentralized through blockchain and dApps. The company Started in September 2017 by H.E. Justin Sun, the TRON network has grown rapidly since its MainNet launch in May 2018. The company previously held the largest amount of USDT in circulation, surpassing $60 billion.

The Benefit Of Pump.fun and TRON Partnership 

This partnership would help Pump.fun grow beyond just meme coins, turning it into a center for wider crypto use. PumpSwap would give users a way to access different networks without relying on regular fiat methods, making it simpler to buy and trade tokens across different platforms.

Related Reading | Bitcoin Classified as Non-Produced Asset in IMF Economic Data

Filed Under: News, Altcoin News Tagged With: layerzero, pump.fun, tron

Pump.fun Disrupts Solana DeFi with PumpSwap’s New Liquidity Model

March 21, 2025 by Mishal Ali

Key Takeaways:

  • Pump.fun introduces PumpSwap, a native token swap service utilizing its own liquidity pools.
  • The new platform eliminates migration fees and aims to provide seamless trading for memecoins.
  • Future plans include revenue sharing for token creators, but details remain undisclosed.

Pump.fun has unveiled PumpSwap, a token swap service built on its proprietary liquidity pools. This is a strategic departure from using Raydium as a traditional center of liquidity on Solana. By keeping liquidity in-house, Pump.fun hopes to make operations more efficient and reduce costs of launch.

The transition puts Pump.fun in direct competition with decentralized exchanges and automated market makers on Solana. Previously, the platform was used to launch top memecoins and then move them to Raydium.

Introducing PumpSwap, Pump’s new native DEX

beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap

PumpSwap enables
– instant migrations
– 0 migration fees (down from 6 SOL)
– more liquidity
– creator revenue sharing (coming soon)

& more 👇 pic.twitter.com/T9BkmmaVVS

— pump.fun (@pumpdotfun) March 20, 2025

Now control is taken entirely by PumpSwap to ensure that all memecoins that are bonding curve complete move to the new platform. This is claimed by the team to minimize friction, prevent delays in migration, and enhance user experience.

PumpSwap’s Revenue Model and Competitive Edge

Another interesting thing about PumpSwap is that it has a competitive trading fee structure. Each trade has a 0.25% fee that is distributed, with 0.20% to liquidity providers and 0.05% to the protocol.

each trade on PumpSwap comes with a 0.25% fee, aligning with similar products

to start, here’s how fees will be distributed:
– 0.20% to liquidity providers
– 0.05% to the protocol

once Creator Revenue Sharing is live, the fee distribution will change

— pump.fun (@pumpdotfun) March 20, 2025

But a future revenue-sharing arrangement will adjust this distribution by forwarding some of this revenue to creators. While we do not know what this distribution will be like, it can help to spur greater quality releases and better match creators with communities.

Pump.fun has already been able to generate substantial revenue and has seen recent figures put daily earnings at $1 million. While this is lower than previous peaks, it is greater than that of a number of other DeFi platforms, including Ethereum-based ones.

Having a large and expanding user community and a steady stream of liquidity, PumpSwap aims to utilize its position as a leading trading hub in the Solana ecosystem.

Expanding Token Offerings and Security Measures

In addition to memcoins, PumpSwap is growing to offer support for trading tokens that are backed by large partners. Tokens on the supported platform are now $PENGU, $APT, $TRON, and $JUP, among others.

The development shows that Pump.fun is seeking to become a decentralized exchange that is capable of supporting multiple different assets besides memecoins.

PumpSwap allows you trade much more than memes

we’re proud to announce that you can now trade select tokens from our verified partners, many of whom have bridged to Solana for the very first time!

huge thank you to@pudgypenguins $PENGU @aptos $APT@trondao $TRON$cbBTC by…

— pump.fun (@pumpdotfun) March 20, 2025

Security is of utmost priority to PumpSwap. Nine independent audits by firms such as Osec.io and Pashov Group have been accomplished by the platform.

There is also going to be a high-stakes competition for auditing with over $2 million in prizes that will contribute to the site’s commitment to safety.

These advancements put PumpSwap in a position to disrupt Solana’s trading landscape. By reducing barriers to migration, including revenue-sharing models and expanded tokens offered, the platform aims to become a pillar of the Solana DeFi ecosystem.

Related Reading | Bithumb Under Investigation in South Korea for Ex-CEO’s Suspected Fund Misuse

Filed Under: News Tagged With: Cryptocurrency, pump.fun, PumpSwap, Raydium, solana

Raydium unveils LaunchLab, a new platform set to compete with Pump.fun

March 21, 2025 by Onyi

  • Raydium, a decentralized exchange (DEX) on Solana, is set to launch LaunchLab, a new memecoin platform with more flexible pricing models.
  • LaunchLab, unlike Pump.fun would allow token creators to set prices using linear, exponential, and logarithmic models, giving them more control over price movements.
  • The launch comes up after Pump.fun’s announcement of its own automated market maker (AMM), raising speculation that Raydium is only trying to protect its revenue.

Raydium, a decentralized exchange (DEX) on Solana, is planning to launch a new platform designed for token launches. 

This announcement came up shortly after  Pump.fun announced that it was developing its own automated market maker (AMM). This announcement, which was originally reported by Blockworks, has stirred different conversations within the crypto community, with some people seeing the launch as a form of direct competition. 

The Launch of LaunchLab, Raydium Memecoin Platform

Raydium is out to launch LaunchLab, a meme coin generator that is very similar to Pump.fun but comes with a more unique pricing option. The platform will help token creators/owners set the price of their tokens using linear, exponential, and logarithmic, which would allow for  flexibility as demand changes. 

Linear pricing keeps things stable, exponential can help create hype and scarcity, and logarithmic helps to prevent extreme price jumps. That means with these three options, token creators would have more control over how their token’s value changes, making it easier to design a system that fits their goals. 

The platform is also connected to Raydium’s liquidity provider locker, which would allow token issuers to earn swap fees indefinitely. Additionally, third-party platforms can integrate with it and add their own extra fees. Raydium core contributor has confirmed that LaunchLab is just one of the major set of tools the exchange plans to introduce.

Raydium’s LaunchLab Raises Controversy Over its Competition With Pump.fun

An anonymous developer told Blockworks that Raydium had been working on the LaunchLab project for months but had to put it on hold so as to avoid any form of competition with other platforms. However, after Pump.fun announced that it was developing its own automated market maker (AMM), Raydium resumed the project. 

https://x.com/AggrNews/status/1893828729635225600?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1893828729635225600%7Ctwgr%5E3f8b701871f2bfb9debea897cd6eab7e99ac5321%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcrypto.news%2Fpump-fun-testing-amm-raydium-2025%2F

LaunchLab is designed to provide an option for creators that prefer Raydium’s AMM v4 or just don’t want to build their own system. This move is driven by financial concerns, as Pump.fun tokens account for 41% of Raydium’s swap fee revenue. 

If Pump.fun truly shifts to its own AMM, then Raydium could lose up to about 35% of its income.  The news has led to a lot of mixed reactions, with some people seeing it as healthy competition that would benefit users, while others believe Raydium is just trying to protect its earnings. 

Related Reading |  HBAR Eyes 86% Surge: Falling Wedge Breakout in Sight

Filed Under: News, World Tagged With: Cryptocurrency, LaunchLab, pump.fun, Raydium

Solana’s Pump.fun Launch New AMM, Radium Crashes

February 25, 2025 by Lipika Deka

  • Pump.fun tests in-house AMM with $CRACK token, aiming for independent liquidity pools.
  • $CRACK token transfer of 1,000 confirms its role in the platform’s AMM beta testing.
  • Pump.fun’s AMM could shift Solana trading fees and reward token holders directly.

Pump.fun, the leading launchpad for Solana-based meme coins, is reportedly setting up its own Automated Market Maker (AMM) liquidity pools, which is currently in beta testing. This move will allow projects launched on the platform to migrate to its proprietary AMM instead of depending on existing decentralized exchanges like Raydium.

The development of an in-house AMM is seen as a strategic move to gain greater control over the liquidity and trading of tokens launched on its platform. Industry observers suggest the move would enable Pump.fun to capture a larger share of trading fees within the Solana ecosystem or implement mechanisms to directly reward token holders.

Crypto commentator, Marty Party stated that this move could significantly impact Raydium’s business. He also noted that Pump.fun plans to charge higher fees and offer more rewards to their token holders, which has already led to Raydium’s price dropping sharply by 22.9% to $3.30.

Pump.fun
Solana's Pump.fun Launch New AMM, Radium Crashes 4

“Raydium will need to add new features and come up with new ideas to keep up,” he stated in his post.

As per the post, the $CRACK token has become the inaugural test token added to Pump.fun’s AMM liquidity pool. This token serves as a crucial component in the platform’s beta testing phase, offering valuable data and insights into the functionality and performance of the new AMM.

Pump.fun’s $CRACK Token Test

The transaction highlighted confirms a transfer of 1,000 $CRACK tokens with the new AMM. This demonstrates the token’s active use within the testing environment.

The platform’s decision to develop its own AMM could have far-reaching implications for the Solana ecosystem. By providing projects with a dedicated liquidity solution, Pump.fun could potentially attract a larger number of developers and users to its platform. Furthermore, the ability to directly reward token holders through the AMM could create a more engaged and loyal community.

However, the success of Pump.fun’s AMM will depend on its ability to compete with established decentralized exchanges and attract sufficient liquidity. The platform will also need to address potential security concerns and ensure a seamless user experience. The coming weeks and months will be crucial in determining the impact of Pump.fun’s AMM on the Solana ecosystem and the broader cryptocurrency market.

Filed Under: DeFi, News Tagged With: DEX, pump.fun, SOL, solana

Pump.fun Denies Token Launch Rumours Amid Legal Crisis 

February 10, 2025 by Onyi

  • Pump.fun co-founder Alon has denied rumors of an upcoming token launch and IPO
  • The Lawsuit Served to Pump.fun over the launch of DOGSHIT2 Token 

Alon, Co-founder of Pump.fun came out to clarify circulating rumors about a token launch and initial public offering (IPO), calling the reports inaccurate. 

Feb 9th a certain crypto news platform shared a post on x that Pump.fun has launched its own memecoin token $PUMP.  The post claimed that the token was launched to give “hodlers”  exclusive access to platforms. “PumpFun is distributing a substantial airdrop to attract users and boost engagement”. 

JUST IN: Pumpfun to launch their own token. pic.twitter.com/gW53UFj4Mx

— Whale Insider (@WhaleInsider) February 9, 2025

The social media post further claimed that this tokenization would help the platform position itself at the forefront in the Defi space and also give substantial value to token holders.

The Co-founder Denies Rumours of Token Launch 

Co-founder Alon Cohen, also shared a post on x to debunk the token launch rumour. He said that his team is focused on improving the products on pump.fun, and are also committed to rewarding users properly. “while the pump.fun team has mainly been focused on improving the product in its 1-year history, the team has always been committed to rewarding its users properly”. 

He further emphasized on the need to be patient saying “good things take time!” 

Despite Alon’s denial of a token launch, WuBlockchain shared a post on x accusing Pump.fun of misleading the public as it releases reports that revealed a token distribution strategy to benefit insiders.

According to the documents, early investors were set to receive 22.05% of token supply, while the team would control 25%, with a one-year lockup and a gradual monthly release over the next three years. It further claims that Pump.fun has generated over $572 million in transaction fees, with $386.8 million transferred to Kraken. However, there has been no official confirmation to back up the claims.  

Lawsuit suit over DOGSHIT2 Token 

Earlier in January, Burwick Law and Wolf Popper LLP served Pump.fun a lawsuit due to impersonation of their firm and mislead of investors. Burwick Law condemned these actions, and determined to work with authorities to pursue legal action. Burwick Law announced this in a post on x that both firms have filed a class-action lawsuit against Pump.fun and they demand the immediate removal of the tokens because it was posted using their names and logos without authorization.

FOR IMMEDIATE RELEASE

Burwick Law and Wolf Popper LLP Demand Baton Corp. DBA, PumpFun Immediately Remove Tokens Deployed On The Solana Blockchain By Pumpfun That Utilize Unlicensed Intellectual Property In An Effort to Impersonate Our Law Firms, And Remove The Likeness Of Any…

— Burwick Law (@BurwickLaw) February 5, 2025

Related |  DOGE Exposes $100B Loophole: Coinbase CEO Demands Blockchain Overhaul for U.S Treasury 

Filed Under: News, World Tagged With: pump.fun, tokens

Solana Surpasses 123 Million Active Addresses, Driven by Memecoins

November 5, 2024 by Kashif Saleem

  • Solana’s аctivе аddrеssеs soаrеd to ovеr 123 million in Octobеr, mаrking а 42% incrеаsе.
  • Thе mеmеcoin trеnd, drivеn by plаtforms likе Pump.fun аnd Rаydium, fuеls trаding аctivity spikеs.
  • Its spееd аnd low fееs аttrаct usеrs, еnhаncing its position аmid growing blockchаin compеtition.

Solana, thе high-spееd blockchаin plаtform, hаs shаttеrеd its rеcord for monthly аctivе аddrеssеs, еxcееding а stаggеring 123 million in Octobеr. This rеprеsеnts а significаnt surgе of ovеr 42% compаrеd to Sеptеmbеr, аccording to dаtа from Thе Block. Thе nеtwork hаs witnеssеd а rеmаrkаblе growth trаjеctory, hаving stаrtеd thе yеаr with а mеrе 12.7 million аctivе аddrеssеs.

Solana active address
Source: The Block

Memecoins Drive Solana Trading Activity

Anаlysts аttributе thе rеcеnt surgе in trаding аctivity to thе growing populаrity of mеmеcoins. Plаtforms likе Pump.fun, а mеmеcoin gеnеrаtor, аnd Rаydium, а dеcеntrаlizеd еxchаngе, hаvе significаntly influеncеd this trеnd. In Octobеr, Pump.fun gеnеrаtеd $30.5 million in rеvеnuе, whilе Rаydium rеcordеd ovеr $30 billion in trаding volumе.

Edеn Au, Rеsеаrch Dirеctor аt Thе Block, highlightеd thаt Octobеr wаs а rеmаrkаblе month, with Pump.fun lаunching а rеcord numbеr of nеw tokеns аnd Rаydium аchiеving its highеst monthly trаding volumе. Howеvеr, Au rаisеd concеrns аbout thе long-tеrm sustаinаbility of this mеmеcoin-drivеn trеnd, cаutioning thаt chаnging mаrkеt dynаmics аnd shifts in usеr intеrеst could dаmpеn thе currеnt еxcitеmеnt.

Au аlso notеd thе ovеrаll growth of thе Solana еcosystеm, which includеs а vаriеty of аpplicаtions аnd infrаstructurе spаnning dеcеntrаlizеd finаncе (DеFi) аnd dеcеntrаlizеd physicаl infrаstructurе nеtworks (DеPIN). Hе concludеd thаt dеspitе incrеаsing compеtition for liquidity аnd usеr еngаgеmеnt аmong blockchаins, its strong prеsеncе is likеly to continuе.

Solana’s Unique Appeal in Crypto

Justin D’Anеthаn, hеаd of businеss dеvеlopmеnt аt APAC for Kеyrock, аddеd thаt Solana’s structurе is wеll-suitеd for high-frеquеncy trаding аnd smаllеr trаnsаctions, whеrе Ethеrеum’s fееs cаn significаntly rеducе profits, mаking Solana а morе аttrаctivе option for usеrs nееding quick, аffordаblе trаnsаctions.

This incrеаsе in Solana’s аctivity coincidеs with thе еxplosivе populаrity of thе Goаtsеus Mаximus (GOAT) mеmе tokеn, which hаs gаinеd trаction thаnks to its link to thе AI chаtbot Tеrminаl of Truths. Thе еxcitеmеnt аround GOAT hаs lеd to а surgе of othеr AI-thеmеd mеmе coins on thе Solana nеtwork.

As of now, Solana’s nаtivе tokеn, SOL, is trаding аt $161, mаrking а 12% risе ovеr thе pаst month. Anаlysts, including Shеlby, highlight а kеy rеsistаncе lеvеl for SOL аt аround $185, which hаs prеviously hindеrеd pricе incrеаsеs. Brеаking through this lеvеl could bе significаnt for SOL. If thе tokеn surpаssеs this rеsistаncе, it might еntеr а phаsе of rаpid pricе growth, with tаrgеts rаnging from $220 to $240.

Related Readings | TRON (TRX) Hits New High with Double-Top Pattern, Bearish Signals Emerge

Filed Under: News Tagged With: GOAT, pump.fun, solana

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