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Despite hitting its lowest trading measurement since October, Pump.fun’s February figures inactive fertile arsenic the fourth-highest since its motorboat successful 2024.
Trading measurement connected Pump.fun, a token launchpad successful the Solana ecosystem, has plunged 63% from January to February 2025, information from Dune Analytics shows. The diminution comes arsenic memecoins look mounting scrutiny amid a drawstring of scandals.
In total, the platform’s trading measurement declined from $119 cardinal to $44 cardinal successful the archetypal 2 months of 2025, with $2.1 cardinal successful trading enactment recorded successful the past 4 days.
As Cointelegraph reported, caller token listings connected Pump.fun are besides down. After seeing a precocious of astir 1,200 tokens per time connected Jan. 24, the fig dropped beneath 300 per time successful aboriginal March.
Pump.fun monthly trading measurement (in green). Source: Dune Analytics
While Pump.fun’s February trading measurement is the lowest since October 2024, it is inactive the company’s fourth-highest since it launched successful January 2024.
In comments to Cointelegraph, Pump.fun co-founder Alon Cohen attributed the slowdown successful enactment to the crypto market’s wide downturn. “When the marketplace trades down, altcoins arsenic good arsenic memecoins commercialized down, and enactment crossed crypto — including connected Pump.fun — slows down,” Cohen said, adding that the platform’s “share of gross crossed the full onchain ecosystem has remained fundamentally the same.”
Pump.fun’s gross implicit the past 30 days came successful astatine astir $74 million, according to Dune Analytics.
Dampened enthusiasm for memecoins
Memecoin trading, which had been a meta successful this existent crypto bull run, has taken a descent among fears of insider trading, rug pulls and fraud.
High-profile incidents person amplified these concerns. One specified incidental was the alleged “Libragate,” successful which a token launched by a radical that included the now-infamous Hayden Davis surged successful popularity aft receiving an endorsement from Argentine President Javier Milei. The token ended up being what galore are calling a $107 cardinal rug pull, with 86% of investors having a realized nonaccomplishment of much than $1,000.
Related: Top Memecoin scams to debar successful February 2025
Anastasija Plotnikova, co-founder and CEO of blockchain regulatory steadfast Fideum, told Cointelegraph that “memecoins person evolved from community-driven societal experiments into a chaotic scenery dominated by worth extraction from retail investors.”
According to Plotnikova, “Insider rings, pump-and-dump schemes, and sniper groups person replaced the organic, collectible quality of archetypal memecoins, creating an unhealthy playing field.”
Memecoins person caught the attraction of the US Securities and Exchange Commission arsenic well. In a Feb. 27 statement, the SEC confirmed that memecoins aren’t securities, but noted that fraud volition inactive beryllium policed.
Magazine: X Hall of Flame: DeFi volition emergence again aft memecoins dice down: Sasha Ivanov
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