[DigitalToday reporter Chi-gyu Hwang (황치규)] Activity on token launchpad Pump.fun, which once led Solana’s meme coin market, appears to be continuing to contract.
The Block recently reported that Pump.fun’s token graduation rate, revenue and total fees across the Solana network have all fallen sharply.
Pump.fun’s seven-day average token graduation rate fell to 0.26 percent last week, an 80 percent drop in three months. The token graduation rate indicates what percentage of newly created tokens move to established exchanges. Pump.fun’s revenue has also averaged $800,000 a day in June, sharply down from $4.8 million a day six months ago.
Revenue fell 25 percent from the previous month, but the graduation rate declined 53 percent over the same period. The report said the gap suggests revenue may be being shored up by additional income such as PumpSwap AMM trading fees, while the launchpad’s core function of bringing new tokens to a successful stage has largely collapsed.
Pump.fun’s slump is also reflected in the token price. The PUMP token has fallen 40 percent over the past six months.
Chi-gyu Hwang
delight@d-today.co.kr