Pump.fun’s fees, users and token launchs drop after LIBRA incident
Pump.fun, a token launchpad based in Solana that launched tokens and collected fees, has seen a significant drop in the value of weekly values for users, launches, new users and fees.
Dune Analytics dashboard By user evelyn233. Between Feb. 7-13, the number new users in the launchpad dropped 16.4% from 719.524 to 601,516. This is the first time since late November that the new users’ daily average within a week fell below 100,000.
Since the LIBRA accident, the number tokens sent out weekly has decreased 26.3%. From 344,607, to 253,955. Pump.fun deployed almost 8 million tokens within 13 months, as of February 21.
The launchpad’s fees also slumped due to the smaller number of tokens deployed. Fees were collected from Feb. 7-13, totaling 124,623 SOL. The following week, fees dropped by almost 32%, to 85,196 SOL.
This is also the first time in a long time that the average daily fees collected during a given week have fallen below 15,000 SOL.
Cooling down the memecoin industry
The LIBRA scandal cooled the market for memecoins on Solana. Javier Milei endorsed LIBRA, the memecoin, on Feb. 14, saying it was a means to fund Argentinian endeavors.
The token price soared quickly, reaching a market cap of $4.5 billion before it crashed by 95% on the weekend.
Even though the crash occurred, Reports of the occurrence of this condition are available at: Nansen pointed out that two wallets made over $10 million profit by purchasing the token a few moments after Milei posted on X about LIBRA and then selling it for its exact peak of $4.55.
The episode raised many questions Insider trading is a form of insider trading. Memecoin markets have prompted discussions on the impact of memecoins. Solana’s reliability. This is a possible key factor for Pump. fun’s significant slump in numbers over the past week.
Artemis reports that due to the ongoing debates about memecoins and investor unease, this sector has fallen 13.4% in value since February 14, as of the time of publication. This is the third largest drop in altcoins in the same period. The following are some of the most effective ways to increase your ROI:.
