基于Solana的令牌发射台泵的交易活动急剧下降

该平台的总销量从1,190亿美元下降到440亿美元，在过去四天中仅进行了21亿美元的交易。

Solana-based token launchpad Pump.fun saw a steep drop in trading activity, with volume plummeting 63% from January to February 2025, according to data from Dune Analytics.

根据Dune Analytics的数据，总部位于Solana的令牌发射台泵。FUN的交易活动大幅下降，从2025年1月到2025年2月，数量下降了63％。

The platform’s total volume slid from $119 billion to $44 billion, with only $2.1 billion in trades over the past four days.

该平台的总数量从1,190亿美元下降到440亿美元，在过去四天中仅进行了21亿美元的交易。

New token launches on Pump.fun also slowed down. At its peak in January, nearly 1,200 tokens were launching daily, but that number dropped to less than 300 per day by early March.

新令牌在泵上发射。图也放慢了速度。在一月份的顶峰上，近1200个令牌每天都在推出，但到3月初，这个数字每天下降到每天不到300。

Trading volume for its “graduated tokens”—those that reached $100,000 in market cap to move to Raydium—plunged 94% from January highs of $3 billion to about $170 million. The platform’s token graduation rate—which tracks new coins reaching $100,000 in market cap to move to Raydium—also slowed, dropping from 1.85% to 0.83% weekly.

其“毕业令牌”的交易量（该公司的市值达到了100,000美元以转移到Raydium），从1月份的高点为30亿美元，至约1.7亿美元。该平台的代币毕业率（该毕业率都追踪了新硬币，达到了100,000美元的市值，以搬到Raydium，也减慢了下降，每周下降到1.85％至0.83％。

Despite the downturn, February’s trading volume remains the fourth-highest month for Pump.fun since its launch in January 2024.

尽管经历了低迷，但2月的交易量仍然是自2024年1月推出以来pump.fun的第四高月份。

Pump.fun co-founder Alon Cohen attributed the slowdown to broader market conditions, explaining that when the market dips, altcoins and memecoins follow suit. However, he noted that Pump.fun’s share of revenue in the on-chain ecosystem remained stable. Over the last 30 days, the platform pulled in $74 million in revenue.

Pump.Fun联合创始人Alon Cohen归因于更广泛的市场条件，并解释说，当市场下降，Altcoins和Memecoins效仿时。但是，他指出，泵。在过去的30天中，该平台获得了7400万美元的收入。

The downturn hints at trader fatigue within Solana’s memecoin ecosystem. Months of hype have been followed by growing distrust, fueled by rug pulls, influencer-driven schemes, and insider trading groups. Speculative surges like those seen with presidential, influencer, and AI-themed tokens often fizzle out as the risks become clearer.

经济低迷暗示了Solana的Memecoin生态系统中的Trader疲劳。在地毯，有影响力的驱动方案和内幕交易小组的推动下，几个月的炒作越来越不信任。像总统，有影响力的人和AI主题的代币相比，随着风险变得更加清晰，投机性的激增通常会消失。

The controversy surrounding “Libragate” is a prime example. The token, backed by a group including Hayden Davis, shot up after receiving Argentine President Javier Milei’s endorsement. But it turned into a $107 million rug pull, with 86% of investors losing at least $1,000.

围绕“ Libragate”的争议是一个很好的例子。在包括海登·戴维斯（Hayden Davis）在内的一个团体的支持下，该代币在接受阿根廷总统贾维尔·米利（Javier Milei）的认可后爆发。但是它变成了1.07亿美元的地毯，其中86％的投资者损失了至少1,000美元。

Looking ahead, Pump.fun isn’t standing still. It recently launched a mobile app and teased a native automated market maker.

展望未来，pump.fun并没有静止。它最近启动了一个移动应用程序，并取笑了一个本地自动化的做市商。

Regulators are also taking note. In a statement, the SEC clarified that memecoins aren’t securities, but warned that fraud and market manipulation will still be pursued.

监管机构也在注意。 SEC在一份声明中澄清说，Memecoins不是证券，但警告说，欺诈和市场操纵仍将被追捕。