Have you heard of Solana and its crypto tokens? Recently, there was some big news affecting a Solana launchpad called Pump.fun. Things have been a bit shaky there lately, mostly because of a cryptocurrency called LIBRA.
- Pump.fun saw fewer new users.
- Fewer new tokens were launched.
- The fees collected went down.
- LIBRA's price went way up, then crashed.
| What happened | Numbers |
|---|---|
| New users on Pump.fun | Down 16.4% |
| New tokens launched | Down 26.3% |
| Fees collected | Down 32% |
| LIBRA's market cap (highest point) | $4.5 billion |
| LIBRA's price crash | 95% |
The LIBRA situation made people worried about investing in memecoins (fun, internet-based cryptocurrencies). This might explain why Pump.fun is having a tough time right now. The future of Pump.fun and other Solana projects is uncertain.
