鯨魚內部人士的新數據表明，從加密貨幣發射台泵畢業的代幣數量的下降。

這份最新報告表明，泵的發射和畢業是在泵。在過去的兩周中，每日發射下降了51％以上

New data from Whale Insider reveals a stark decline in the number of tokens graduating from cryptocurrency launchpad Pump.fun. Today, only 68 tokens graduated from the platform, a significant drop from the 215 tokens that graduated yesterday.

鯨魚內部人士的新數據表明，從加密貨幣啟動板泵畢業的代幣數量急劇下降。今天，只有68個令牌從該平台畢業，這是昨天畢業的215個令牌的大幅下降。

This latest report indicates a downturn in token launches and graduations on Pump.fun. Daily launches have fallen by over 51% in the past two weeks, sliding from approximately 54k on February 11 to roughly 26k on February 25.

這份最新報告表明，令牌上的發射和畢業的低迷。在過去的兩周中，每日發射下降了51％以上，從2月11日的大約54K下滑到2月25日的大約26K。

In line with this, the graduation rate has fallen to its lowest point since May 2024, with less than 1% of tokens launched on February 25 successfully graduating.

與此一致，自2024年5月以來，畢業率已降至其最低點，不到1％的令牌於2月25日啟動。

Revenue and User Activity Could Suffer

收入和用戶活動可能會受到影響

This isn’t good news for Pump.fun, as the drop in graduations could impact its revenue and overall activity.

對於pump.fun來說，這不是一個好消息，因為畢業的下降可能會影響其收入和整體活動。

If fewer token launches succeed, it may cause decreased user engagement and transaction volumes. This could push the platform to change its strategies or add new features to boost participation.

如果代幣啟動更少，可能會導致用戶參與度和交易量減少。這可能會推動平台改變其策略或添加新功能以提高參與度。

It’s hard to say for certain why this is happening, but the reduced graduation rate may reflect a cautious approach from investors amid current market conditions.

很難確定為什麼會發生這種情況，但是畢業率的降低可能反映出當前市場狀況的投資者的謹慎方法。

Factors such as increased volatility, regulatory uncertainties, or a shift in investment focus are likely the main contributors to this trend.

諸如增加波動率，監管不確定性或投資重點轉移等因素可能是這一趨勢的主要因素。

Pump.fun: Instant Token Launchpad Explained

泵：即時令牌發射台解釋

Launched last year in January, Pump.fun is a cryptocurrency launchpad on the Solana blockchain that enables users to create and trade tokens immediately. Tokens on Pump.fun follow a discrete bonding curve pricing model, where prices increase at set market cap milestones.

Pump.Fun於去年1月推出，是Solana區塊鏈上的加密貨幣發射台，使用戶能夠立即創建和交易代幣。泵上的令牌。FUN遵循一個離散的粘結曲線定價模型，該模型在設定市值里程碑時的價格上漲。

For a token to graduate, it must reach a set market cap (roughly 86 SOL), signifying sufficient investor interest and liquidity, as it then becomes listed on decentralized exchanges like Raydium.

為了使畢業生的畢業生必須達到固定的市值（大約86個SOL），表示足夠的投資者利息和流動性，因為它隨後被列入了Raydium等分散交易所。

Graduation often leads to increased exposure and trading activity for the token.

畢業通常會導致代幣的暴露和交易活動增加。

Too Many Tokens or LIBRA Fiasco Blame?

太多的令牌或天秤座的慘敗？

Some users attribute the decline to an overabundance of tokens. Since launch, Pump.fun has facilitated the creation of nearly 8 million tokens, and some of those were fundamentally weak to begin with.

一些用戶將下降歸因於代幣的過度。自推出以來，Pump.Fun促進了近800萬個令牌的創建，其中一些從根本上開始很弱。

In addition, the slump probably has to do with the fiasco involving the LIBRA token and its subsequent collapse. This incident has made investors and users more apprehensive, contributing to lesser activity on platforms like Pump.fun.

此外，低迷可能與涉及天秤座令牌及其隨後崩潰的慘敗有關。這一事件使投資者和用戶更加擔心，從而在諸如pump.fun之類的平台上進行了較小的活動。

Whatever the reason, Pump.fun has seen better days and we will have to see if it overcomes the current difficulties.

無論出於何種原因，pump.fun已經過了更好的日子，我們將不得不看看它是否克服了當前的困難。