The launch of $PUMP is local top for $SOL and the Solana ecosystem.

Until now, $SOL and somewhat $FARTCOIN have been proxies for betting on the growth of the Solana ecosystem, much of which has been tied to meme coin volume.

→ Fees are down to $1.7M per day, down from the ATHs of $15M

→ Pump has already raised over $700M in fees, which begs the question of why a token?

→ Competitors like bonkfun, and Believe have cannibalized volume with no new liquidity coming into the ecosystem.

So, who benefits from this extraction? In my opinion, the best two bets are @ethereum and @avax.

1. Why Ethereum?

- Ethereum already has established runners, significant liquidity to support volume and an ecosystem (DeFi) for users to play around in.

- The @ethereum foundation is also simplifying their roadmap, which bodes well for morale

- Lastly, we have ETF funds turning positive over the past month.

2 .Why Avalanche?

- Their most recent Octane upgrade has reduced gas fees and increased throughput, making it a perfect place for DeFi, Gaming, and Memes to thrive.

- @avax DeFi is growing at a great rate, we've seen significant growth within core protocols

- @avantprotocol with avUSD and now savBTC

- @eulerfinance with $260M in TVL

- L1s are starting to deploy at an expedited rate, particularly gaming and RWA chains ( @MaplestoryU, @GunzillaGames, @vaneck_us)

- Transactions are also at a yearly high while gas costs remain historically low, showcasing highly scalable tech.

Additionally, both ecosystems are well-positioned to benefit from increased institutional capital being onboarded via their tokenization efforts.