Pump.funs Earnings Drop to a Four-Month Minimum as the Site Struggles to Recover
Pump.fun, the Solana-based site recognized for its quick memecoin production, is experiencing a considerable slump. Earnings have reached a four-month minimum, indicating a possible cooling in the once-popular memecoin marketplace.
Protocol fee earnings on Pump.fun have decreased to $791,500 as of March 17, a stunning 94% decrease from its high of $15.38 million on January 25, according to DefiLlama information. This represents the lowest daily amount since last November.
Adding to the issue, the platform’s “graduation rate”—the quantity of memecoins effectively moving to Solana decentralized exchanges—has also reduced. Dune Analytics information reveals an existing graduation rate of simply 0.98%, down from 1.62% on January 20. This metric has stayed below 1% for a month, showing a decreasing interest in Solana memecoins.
Experts at Matrixport recommend that the memecoin bubble collapsed after peaking in January, adding to a $1 trillion reduction in the overall cryptocurrency market capitalization. Popular “pump and dump” schemes, such as the LIBRA memecoin fiasco including the Argentine president and the poor performance of tokens related to Donald Trump (TRUMP) and his spouse (MELANIA), may have even more dampened excitement.
In an effort to restore its earnings streams, Pump.fun just recently introduced a mobile application and hinted at prepare for introduce an automated market maker (AMM). These efforts aim to enhance on-platform trading and increase liquidity, possibly reigniting interest in the platform’s memecoin offerings.
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