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Pump.fun is currently testing an automated market maker (AMM) liquidity pool on its testnet. The platform aims to replace Raydium as its third-party liquidity supplier. According to blockchain researcher @trenchdiver101, this transition will enable a more efficient process for meme tokens to shift from Raydium to Pump.fun’s internal liquidity pool. If successful, the new AMM could allow Pump.fun to retain a larger portion of transaction fees. Additionally, the system may introduce a reward mechanism for token holders. As meme tokens continue to dominate decentralized exchange (DEX) volumes, this development could provide the platform with greater control over its liquidity operations. The decision to test an AMM coincides with a surge in meme token activity on decentralized exchanges. According to DeFiLlama data, Pump.fun has already processed over $500 million in total swap fees. Currently, around 1.4% of tokens launched on the platform eventually migrate to Raydium. Despite these advancements, Pump.fun faces challenges in maintaining liquidity stability for coins not associated with pump-and-dump schemes. The platform is working towards organic growth by fostering sustainable meme communities with long-term potential. Beyond liquidity improvements, Pump.fun has reinforced its security measures to prevent illicit transactions. Recently, the platform intercepted an attempt by a hacker connected to the $1.46 billion Bybit hack who sought to transfer stolen funds through its system. On-chain investigator ZachXBT reported that the hacker was using Pump.fun to trade meme coins, a common strategy in money laundering schemes. By blocking these transactions, the platform demonstrated its commitment to maintaining security and integrity within its ecosystem. Before Pump.fun intervened, the hacker had already transferred $1.08 million of the stolen funds across multiple blockchains, converting them into meme tokens. The attacker had launched a token named “QinShihuang” on Pump.fun, generating over $26 million in trading volume before their activity was halted DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

According to GMGN, in the past 24 hours, among the tokens launched from Pump Fun, only one token has a market value of more than $1 million. There are also several tokens that have reached more than $1 million in the past 24 hours, but they have all experienced a sharp drop.…

Check volumes on a longer time period, not 24 hours. Raydiums exposure to pump is substantial. And users on Jupiter and a dozen trading bots dont care about where they get their execution. Raydium is fucked.

After months of excitement, the frenzy around the launch of tokens on Solana is slowing down significantly. Pump.fun, the leading memecoin launch platform, is experiencing a marked decline in its activity and revenues. Between growing distrust and market exhaustion, the enthusiasm for these ultra-speculative tokens seems to be fading. According to recent data, the number of new tokens launched daily on Solana dropped to 49,779 on February 19, down from a record of 95,578 on January 26. This level is the lowest recorded since January 1, 2025. Even worse, the Pump.fun platform saw its activity fall to 35,152 new tokens, marking its weakest day since Christmas 2024. This decline in activity is of course accompanied by a collapse in revenues. According to Dune Analytics, Pump.fun generated only $1.69 million on February 19, its lowest level since November 2024. While memecoins have significantly contributed to the surge of token launches on Solana in recent months, they are now under fire. Many of them are criticized for their highly speculative nature and links to scams. Investors are becoming more cautious in the face of the risks of Rug Pulls and market manipulation, common practices in the memecoin universe. Moreover, recent scandals have heightened distrust surrounding memecoins. The fiasco of the Libra token, which ruined over 13,000 investors , illustrates the risks of these ultra-speculative projects. Similarly, the launch of a memecoin by the Central African Republic raised questions about the legitimacy of some initiatives. These events have amplified the sense of fear, pushing many investors away from this volatile market. Despite this slowdown, Solana remains one of the most dynamic networks in the crypto ecosystem. However, this decline in enthusiasm for token launches may signal a consolidation phase following a period of exuberance. It remains to be seen whether Pump.fun and other similar platforms will be able to regain ground or if the memecoin industry is experiencing a lasting slowdown .

Pump.Fun, known for its low-cost token issuance, has seen impressive growth, pocketing over $550 million in fees since March 2024. What do you think about this potential shift? Share your thoughts in the comments!