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Pump.fun Sees Sharp Drop in Memecoin Graduation As Hype Fades

Pump.fun, which led the memecoin market trend, is now facing challenges. The decentralized platform used to have thousands of new tokens daily, but now fewer coins are making it to Raydium, a decentralized exchange. Pump.fun is struggling to stay popular as the memecoin hype trend slows. How Pump.fun Operates Pump.fun lets anyone create a memecoin on its platform, and the token prices increase as more people buy in. When the token’s total value reaches about $100,000, it “graduates” and gets listed on Raydium, a decentralized exchange. At this point, Pump.fun adds $17,000 in liquidity to keep the tokens stable. The platform burns liquidity provider tokens to prevent sudden crashes and rug-pull scams. For a while, this method caused a big rise in activity. In January, on-chain data revealed that 71,735 tokens were launched on the Pump.fun in a single day. This came right after President Donald Trump unveiled his memecoin TRUMP following his presidential election in November 2024. Trading volumes for Pump.fun’s graduated tokens also rose to over $3 billion. However, token launches have plummeted. On February 26, only 25,385 new tokens were launched, which is just one-third of the highest number in January. Fewer Tokens Are Making It to Raydium Amidst Market Sell-Off Fewer people are creating tokens, and even fewer are reaching the graduation stage. In January, 24,008 tokens made it to Raydium. This number plummeted in February, with only 11,532 tokens reaching graduation. Last week alone, 2,184 tokens graduated, but that number has fallen to just 717 this week. The percentage of tokens making it through the full cycle has also declined. In June 2024, 2.1% of all created tokens graduated. By January, that number had already fallen to 1.6%. This week, it hit an all-time low of just 0.7%. The crypto market is struggling, and the memecoins sector suffers the most. The GMCI Meme Index, which tracks major memecoins, has fallen over 30% in the last month and 45% since January. Pump.fun Faces Legal Pressures Pump.fun’s drop in token launches comes when the launchpad is dealing with legal problems . Law firms have sued the platform on behalf of investors, who have allegedly suffered significant losses. The firm claimed the platform exploited users and allowed harmful content to thrive while profiting from its fees. A recent lawsuit has also dragged the platform to court for memecoin impersonation. Adding to its woes, Pump.fun’s X official account was hacked, leading to fraudulent token promotion. At the same time, the platform faced backlash over testing its Automated Market Maker (AMM) feature, which could replace Raydium. This move has sparked concerns within the community. The post Pump.fun Sees Sharp Drop in Memecoin Graduation As Hype Fades appeared first on TheCoinrise.com . Finbold

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Texas Bitcoin Reserve Bill Advances to Senate Amid Mixed Support from Other States

Texas is advancing its Bitcoin Reserve proposal, garnering significant attention amidst mixed political support across other states. This development marks a crucial moment for Texas, as it seeks to position Finbold