Activity on Pump .fun dropped 80% as investors abandon memecoin
Activity on Pump .fun, a platform for creating and trading memecoin, fell by up to 80% as users moved to perpetual futures trading. The token graduation rate dropped to 0,26% last week, revenue is now about $800,000 per day versus $4.8 million six months ago. The platform's PUMP token has fallen 40% over the past six months.
This downturn also dragged down fees on the Solana network, where Pump .fun operates, now down to about 5,300 SOL per day compared to 33,000 SOL in January. Analysts say investors are shifting to prediction markets and perpetual futures, contracts without an expiration date that are popular among many.
