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Research finds less than 0.002% of Pump.fun memecoins succeed
The post Research finds less than 0.002% of Pump.fun memecoins succeed appeared on BitcoinEthereumNews.com. A devastating analysis of viral memecoin platform Pump.fun has found that less than 0.002% of its tokens ever sustain even a modest $1 million market capitalization. Pump.fun has become a hub for the creation and trading of memecoins and since its launch, has hosted the creation of over 1.6 million memecoins while drawing considerable attention from the crypto community. However, these latest findings highlight the significant mismatch between the marketing promises of the ostensibly democratized Solana coin generator and the reality of finance, where success is exceedingly rare and disproportionately benefits the wealthy. The point of Pump.fun is to simplify the complex tasks required to mint, list, and market a memecoin on the Solana blockchain. Despite its success at democratizing access to this suite of tools, it hasn’t democratized any aspect of finance or investing. Indeed, the vast majority — over 99.99% — of these coins fail to achieve any meaningful market value. According to a new analysis, only 41 out of the 1.7 million memecoins launched on Pump.fun have maintained a market capitalization of over $1 million for several weeks. This represents a mere 0.002% of all tokens created on the platform. According to Newton Einstein’s research on PumpFun, as of August 10, PumpFun has launched a total of about 1.7 million tokens, of which 23,800 were listed on Raydium, 141 were listed on CoinGecko, 41 tokens can maintain a market value of more than $1 million for multiple weeks,… — Wu Blockchain (@WuBlockchain) August 13, 2024 Read more: Pump.fun update means memecoin devs can now livestream their ass Worse, only 15 tokens rallied past $10 million. The number is so small that it is almost exclusively controlled by wealthy celebrities like Caitlyn Jenner and other wealthy investors. Pump.fun users finally see hard research After Pump.fun’s social media account…
The post Research finds less than 0.002% of Pump.fun memecoins succeed appeared on BitcoinEthereumNews.com.
A devastating analysis of viral memecoin platform Pump.fun has found that less than 0.002% of its tokens ever sustain even a modest $1 million market capitalization. Pump.fun has become a hub for the creation and trading of memecoins and since its launch, has hosted the creation of over 1.6 million memecoins while drawing considerable attention from the crypto community. However, these latest findings highlight the significant mismatch between the marketing promises of the ostensibly democratized Solana coin generator and the reality of finance, where success is exceedingly rare and disproportionately benefits the wealthy. The point of Pump.fun is to simplify the complex tasks required to mint, list, and market a memecoin on the Solana blockchain. Despite its success at democratizing access to this suite of tools, it hasn’t democratized any aspect of finance or investing. Indeed, the vast majority — over 99.99% — of these coins fail to achieve any meaningful market value. According to a new analysis, only 41 out of the 1.7 million memecoins launched on Pump.fun have maintained a market capitalization of over $1 million for several weeks. This represents a mere 0.002% of all tokens created on the platform. According to Newton Einstein’s research on PumpFun, as of August 10, PumpFun has launched a total of about 1.7 million tokens, of which 23,800 were listed on Raydium, 141 were listed on CoinGecko, 41 tokens can maintain a market value of more than $1 million for multiple weeks,… — Wu Blockchain (@WuBlockchain) August 13, 2024 Read more: Pump.fun update means memecoin devs can now livestream their ass Worse, only 15 tokens rallied past $10 million. The number is so small that it is almost exclusively controlled by wealthy celebrities like Caitlyn Jenner and other wealthy investors. Pump.fun users finally see hard research After Pump.fun’s social media account…
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