Over 60% of active Pump.fun traders lost money in six months, with a small number gaining large profits amid high meme coin risks.
The Ethereum Foundation announced a fiscal policy to spend 15% of its treasury in 2025, focusing on sustainability and ecosystem growth.
Gate delisted LAUSDT contracts after price deviations, covering user losses and aiming to improve future risk controls and pricing systems.
OVER 60% OF FREQUENT PUMP.FUN TRADERS SUFFER LOSSES IN THE PAST 6 MONTHS
As of June 5, 2025, among 4.257 million addresses that made more than 10 token trades on Pump.fun in the past six months, over 60% (around 2.554 million) are in a loss position.
Of these, 56.6% (approximately 2.408 million addresses) lost between $0–$1,000. Roughly 1,700 addresses lost over $100,000, and 46 addresses lost over $1 million.
Among the profitable addresses, the largest segment (21.5%, or about 916,500 addresses) earned $0–$1,000. More than 5,000 addresses made over $100,000 in profit, while 311 addresses earned over $1 million.
Analysis:
Pump.fun is a decentralized token launchpad built on the Solana blockchain, focused primarily on meme coins. It uses a bonding curve model, allowing users to create and trade tokens at low cost.
Since its launch in January 2024, the platform has grown rapidly, with over 6 million meme tokens created and nearly $400 million in revenue (around 2.016 million SOL) by January 2025.
However, due to the high volatility and speculative nature of meme coins, most tokens have gone to zero. Only 1.21% of tokens on the platform have reached the market capitalization threshold ($69,000) required to list on Raydium.
This data highlights the extremely high-risk nature and polarized returns of trading on Pump.fun.
ETHEREUM FOUNDATION ANNOUNCES FISCAL POLICY
On June 5, the Ethereum Foundation (EF) published a blog post outlining its fiscal policy.
EF reaffirmed its mission to strengthen the Ethereum ecosystem while maintaining its core objective: ensuring applications run as expected without downtime, censorship, fraud, or third-party interference.
EF stated that its treasury supports its long-term autonomy, sustainability, and legitimacy. While the foundation will remain a long-term steward of the ecosystem, its scope of responsibility will gradually narrow.
In 2025, EF plans to spend around 15% of its treasury (estimated to be in the hundreds of millions USD, depending on total reserves) and aims to maintain a fiat buffer covering 2.5 years of expenses.
Over the next five years, EF intends to gradually reduce its annual operating expenditure to around 5% as a long-term baseline.
Analysis:
The 15% spending from the treasury in 2025 will support Ethereum ecosystem development, including R&D, developer grants (e.g., the Ecosystem Support Program), and community events.
This could accelerate progress in Layer 2 scaling, client diversity, and security upgrades—further solidifying Ethereum’s leadership in DeFi and NFT markets.
GATE DELISTS LAUSDT PERPETUAL CONTRACTS, COVERS ALL LOSSES
On June 4, 2025, Gate announced the delisting of the LAUSDT perpetual contract due to significant deviations between the mark price and the normal market price.
The exchange closed all open positions at market price and committed to covering all negative balance losses from forced liquidations, ensuring users do not have to repay any deficits.
Analysis:
LAUSDT perpetual contracts are USDT-denominated crypto derivatives with no expiration date and allow leverage of up to 100x. They use a funding rate mechanism to align with spot prices.
Large deviations in mark price can result from high volatility, poor liquidity, or external manipulation, potentially causing forced liquidations. If user balances are insufficient, this leads to “negative equity” or bankruptcy positions.
Gate is likely to improve its mark price algorithm or impose stricter liquidity requirements to prevent similar issues. Advances in funding rate arbitrage technology may also play a role in reducing future mark price discrepancies.
〈CoinRank Crypto Digest (6/05)｜Ethereum Foundation Announces Fiscal Policy〉這篇文章最早發佈於《CoinRank》。
