鲸鱼内部人士的新数据表明，从加密货币发射台泵毕业的代币数量的下降。

这份最新报告表明，泵的发射和毕业是在泵。在过去的两周中，每日发射下降了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.

鲸鱼内部人士的新数据表明，从加密货币启动板泵毕业的代币数量急剧下降。今天，只有68个令牌从该平台毕业，这是昨天毕业的215个令牌的大幅下降。

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.

这份最新报告表明，令牌上的发射和毕业的低迷。在过去的两周中，每日发射下降了51％以上，从2月11日的大约54K下滑到2月25日的大约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.

与此一致，自2024年5月以来，毕业率已降至其最低点，不到1％的令牌于2月25日启动。

Revenue and User Activity Could Suffer

收入和用户活动可能会受到影响

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

对于pump.fun来说，这不是一个好消息，因为毕业的下降可能会影响其收入和整体活动。

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.

如果代币启动更少，可能会导致用户参与度和交易量减少。这可能会推动平台改变其策略或添加新功能以提高参与度。

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.

很难确定为什么会发生这种情况，但是毕业率的降低可能反映出当前市场状况的投资者的谨慎方法。

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

诸如增加波动率，监管不确定性或投资重点转移等因素可能是这一趋势的主要因素。

Pump.fun: Instant Token Launchpad Explained

泵：即时令牌发射台解释

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于去年1月推出，是Solana区块链上的加密货币发射台，使用户能够立即创建和交易代币。泵上的令牌。FUN遵循一个离散的粘结曲线定价模型，该模型在设定市值里程碑时的价格上涨。

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.

为了使毕业生的毕业生必须达到固定的市值（大约86个SOL），表示足够的投资者利息和流动性，因为它随后被列入了Raydium等分散交易所。

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

毕业通常会导致代币的暴露和交易活动增加。

Too Many Tokens or LIBRA Fiasco Blame?

太多的令牌或天秤座的惨败？

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.

一些用户将下降归因于代币的过度。自推出以来，Pump.Fun促进了近800万个令牌的创建，其中一些从根本上开始很弱。

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，低迷可能与涉及天秤座令牌及其随后崩溃的惨败有关。这一事件使投资者和用户更加担心，从而在诸如pump.fun之类的平台上进行了较小的活动。

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

无论出于何种原因，pump.fun已经过了更好的日子，我们将不得不看看它是否克服了当前的困难。