Original title: “Solana’s Minic Season Is Gone? Pump.fun’s daily trading volume plunged 82%, and the launch success rate remained 1%”

Original author: Ting, Dynamic Trend BlockTempo

In this round of bull market, Solana, the veteran public chain, has become one of the excellent incubation places for memin due to its low transaction fees and smooth trading experience. The token issuance platform Pump.fun sniffs out investors ‘enthusiasm for memin. It not only launches the “one-click coin issuance” function, but also allows users to issue memin for free, continuing to ignite the wave of national coin issuance in the Solana ecosystem.

Pump.fun ‘s average daily trading volume plunged 82% to its lowest level since Christmas

However, the recent meme craze on Solana has a significant trend of cooling down. According to The Block, starting from the 6th, the average daily trading volume of memin from Pump.fun to the decentralized exchange Raydium has dropped to US$560 million.

This figure is the lowest level since Christmas 2024 and is 82% lower than the peak single-day trading volume of US$3.13 billion three weeks ago.

Not only that, even Pump.fun’s “token graduation rate”(the probability of being launched to Raydium) has dropped. Last week, only 1.04% of Pump.fun tokens were successfully launched to Raydium, compared with 1.54% and 1.59% respectively in the first two weeks.

In addition, the total average daily tip (tip) for Jito validators in the Solana ecosystem dropped to 23,800 SOL (approximately US$4.8 million) last week. In comparison, data for the first two weeks were 42,000 SOL (approximately US$9.9 million) and 68,500 SOL (approximately US$17.5 million), respectively.

Since users typically tip Jito verifiers to speed up transactions, the decline in the data means trading activity is weakening.

Pumpfun Daily Token Graduation Rate, suorce:the block

Solana’s “Golden Dog” market cap gradually drops

In addition, The Block also pointed out that Solana’s meincoin market is undergoing an “euthanasia roller coaster” process, which refers to experiencing a wave of large market prices at the beginning, but then the peak of each market fluctuation gradually decreases.

The beginning of this trend can be traced back to the issuance of $TRUMP on January 18, which once had an FDV of US$75 billion, and the market value of the subsequent issuance of $MELANIA also reached US$13 billion.

Then,$VINE launched by the founder of the Vine platform has a maximum market value of nearly US$500 million; a few days later,$jellyjelly released by the co-founder of Venmo has a maximum market value of US$250 million; and the recently launched $JAILSTOOL, promoted by Barstool Sports founder Dave Portnoy, has a maximum market value of approximately US$220 million.

The gradual decline in the market value peak of Solana Golden Dog in these different periods also indirectly shows that the enthusiasm in the Solana memecoin market is weakening and speculative sentiment is gradually cooling down.

Pancakeswap’s transaction volume exceeded Uniswap in recent 24 hours

On the other hand, with Binance founder Zhao Changpeng interacting with the test token $TST on social platform X a while ago, and a series of subsequent listings and promotions by Binance and BNB Chain, market funds seem to be flowing into BNB Chain. Signs.

According to Defillama, the trading volume of Pancakeswap, the leading DEX agreement on BNB Chain, reached US$302 million in the past 24 hours, and the trading volume in the past 7 days reached US$2.1207 billion. This amount surpassed that of Uniswap, Raydium, Orca and other well-known DEX to top the list. It shows that BNBChain has become extremely popular in the near future.

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