Pump.enjoyable, a platform central to Solana’s meme coin growth final yr, continues to see sharp declines in protocol payment income and general buying and selling quantity. Present knowledge reveals a stark distinction from its peak exercise earlier in 2025.
As of March 28, Pump.enjoyable’s protocol payment income stands at $1.2 million, in keeping with knowledge from DefiLlama. It is a vital drop from January, when the income was $7.07 million. Particularly, this marks an 83% decline from the all-time excessive in simply three months.
Whereas this marks a slight enchancment from a low close to $671k reported simply final week, the steep decline highlights a big contraction in person exercise. The platform now faces appreciable loss in each income and market presence inside the Solana meme coin ecosystem.
Associated: Pump.enjoyable: Right here’s Why We Launched Our Personal DEX, PumpSwap
Decline Displays Broader Meme Coin Market Slowdown?
In the meantime, buying and selling quantity on Pump.enjoyable has additionally skilled a steep decline. As of Friday, the each day quantity stood at $97.21 million, in comparison with $390.3 million in January. This marks a greater than 75% lower from its peak.
The decline in Pump.enjoyable’s income and buying and selling quantity is a part of a broader slowdown within the meme coin market, which had seen huge progress in 2024.
A report by Binance revealed that meme cash had been the top-performing crypto sub-sector in 2024, with common good points of over 212%. Solana grew to become the go-to blockchain for meme coin buying and selling, and Pump.enjoyable performed a key position.
In 2024, Pump.enjoyable facilitated the launch of over 5.7 million new meme coin initiatives and generated greater than $400 million in income.
Associated: Solana-Primarily based Pump.enjoyable Turns into Prime Participant in Meme Token Deployment
Nonetheless, market sentiment appears to have shifted considerably in 2025. Many now view the sector, initially widespread for perceived “truthful launch” alternatives, as more and more fraught with fraud and manipulation dangers.
Platform Woes: Account Hack and Securities Lawsuits Add Strain
Including to the platform’s woes, Pump.enjoyable itself was just lately compromised. On February 26, the platform’s official Pump.enjoyable X account was hacked and used to advertise fraudulent tokens, together with a faux governance token named PUMP.
Associated: Pump.enjoyable Hit With Class Motion Lawsuit, Accused of Securities Violations
Individually, Pump.enjoyable grew to become the goal of investor lawsuits beginning in January. One go well with alleges the platform’s simple token launch course of facilitated the creation and promotion of unregistered securities, claiming influencers had been used misleadingly, leading to investor losses. That go well with seeks rescission of token purchases, damages, and lawyer’s charges.
This adopted the same earlier lawsuit which, along with alleged securities regulation violations, additionally accused Pump.enjoyable of permitting the promotion of inappropriate content material by way of its platform.
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