Over 51% of wallets trading on Pump.fun this month lost money.
A $1 billion token sale is rumored to be in the works, aiming for a $4 billion valuation.
While wallets are losing money, Pump.fun has generated a massive $700M in revenue.
While much of the altcoin market currently struggles for relevance in a dry liquidity environment, Pump.fun, Solana’s viral meme coin generator, continues to thrive. The platform is fueling a chaotic micro-economy that has, by many accounts, minted fortunes for a select few but resulted in financial ruin for a large number of its users.
Thanks to its simple one-click token creation system, Pump.fun has quickly become one of the most talked-about platforms in the crypto space. But behind all the hype lies a rather troubling trend: the vast majority of traders on the platform are actually losing money.
The Stark Reality: Data Shows Over Half of Pump.fun Traders in the Red
According to recent data shared by crypto analyst Miles Deutscher, more than half of Pump.fun traders are in the red. Out of nearly 330,000 wallets, over 166,000 wallets (51.06%) suffered losses under $500, while another 3,700 wallets lost between $500�…
The post Solana’s Pump.fun Booms, But Data Shows Over Half Its Meme Coin Traders Lose Money appeared first on Coin Edition.
