Pump Fun’s slowdown triggers 97% collapse in Solana network earnings
Solana’s network revenue and decentralized exchange (DEX) volume have plummeted in recent months as the hype around memecoins fades.
This downturn is largely tied to the slowdown of Pump.fun, a major memecoin launchpad that once fueled a surge in network activity.
At the height of the memecoin craze in January, Solana’s weekly revenue peaked at $55.2 million as traders flooded the network. However, data from DeFiLlama shows a staggering 97% decline, with revenue falling to just $1.8 million this week—the lowest level since September 2024.
This revenue plunge follows a steep drop in trading volume. Solana’s weekly trading activity has tumbled from over $97 billion at its peak to just $5 billion, reflecting a cooling interest in speculative memecoins.
During January’s peak, Pump.fun facilitated the launch of 1.7 million tokens daily, with a small percentage successfully graduating to DEXs.
This intense activity generated millions in fees, contributing significantly to Solana’s revenue surge. However, as the memecoin hype cooled, Pump.fun saw a drastic decline in token launches.
The shift has been stark. Matthew Haddad of Omni Network pointed out that the platform recently recorded an entire 24-hour period without a single new token graduating—a major contrast to its frenzied activity just months ago.
This slowdown has directly impacted Pump.fun’s earnings, with weekly protocol fee revenue dropping to $3.8 million as of March 16, the lowest since September 2024, according to DeFiLlama.
The post Pump Fun’s slowdown triggers 97% collapse in Solana network earnings appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
USDC Treasury Mints $250 Million on Solana Blockchain
zkLend Exploiter Claims to Lose $9.6M Stolen Funds to Phishing Scam
The hacker responsible for the $9.6 million exploit of zkLend claims to have lost a significant amount of the stolen funds to a phishing scam that mimicked Tornado Cash.

SpaceX Launches First Manned Mission to Orbit Earth’s Poles, Led by Crypto Entrepreneur
Elon Musk’s SpaceX has embarked on a groundbreaking mission, sending four private astronauts on the first-ever human spaceflight to orbit the North and South Poles.

Bitcoin Mining Shifts to Cleaner Energy as Coal Use Declines
Bitcoin mining has shifted towards cleaner energy sources over the past 13 years.

Trending news
MoreCrypto prices
More








