Pump.fun Announces Major Upgrades and Future Launch of Native Token
The famous Pump.fun platform, known for deploying memecoins on the Solana network, has recently made headlines by unveiling major upgrades and announcing the future release of a native token. These revelations were made during an event on X Spaces on October 19, where the team also showcased an improved version of its trading terminal, called Pump Advance.
A Advanced Trading Terminal to Navigate the Memecoin Universe
The announced Pump Advance update promises to bring new tools to memecoin traders. These new features include the integration of mini-charts, data on the largest token holders, and social indicators to better evaluate competing memecoins. These tools aim to help users navigate a saturated market, with over 2.45 million unique tokens deployed on Pump.fun, according to Dune Analytics data.
The Pump Advance terminal stands out with its intuitive approach, designed to meet the needs of traders looking to quickly and efficiently analyze the millions of tokens deployed on the platform. To attract new users, the team has also announced a promotional period with 0% fees for the first month of use, as well as security improvements in connection via Privy.
While the announcement of a future Pump.fun token has caught the attention of event participants, the team has not yet revealed a specific launch date.
Meme Coins: Between Opportunity and Speculation
The debate surrounding meme coins continues to divide the crypto community. Some, like Murad Mahmudov, believe that meme coins have a legitimate role to play in the crypto sphere, removing the speculative premium weighing on altcoins. On the other hand, figures like Jimmy Song denounce these tokens, considering them a pure product of risky speculation with significant risks for investors.
The evolution of Pump.fun illustrates these contradictory dynamics. Despite an environment where the majority of meme coins fail to successfully launch on platforms like Raydium — a study by Dune Analytics reveals that 98.5% of tokens deployed on Pump.fun never succeed in listing — the platform continues to grow in popularity and attract users seeking quick gains.
Encouraging Meme Coin Success
Faced with this reality, where most meme coin projects do not succeed, the Pump.fun team has sought to encourage more successful launches. In August 2024, the platform implemented an $80 incentive for token creators who complete the bonding curve and manage to list their token on Raydium. This initiative aims not only to reduce the failure rate but also to limit rug pulls, which tarnish the platform’s reputation.
A High-Risk, Yet Lucrative Market
Despite an extremely low success rate — a meme coin trader estimating the odds of selecting a winning token at around 0.12% — the platform continues to generate an impressive transaction volume. One particular day left a mark: on August 13, Pump.fun recorded revenues exceeding $5.3 million in a single day, surpassing the cumulative revenues of the top 24 protocols in the crypto ecosystem during the same period.
Pump.fun perfectly exemplifies the paradoxes of the meme coin market. On one hand, a low probability of success for investors, often compared to a game of chance like roulette. On the other hand, a platform capable of generating colossal revenues and attracting a growing user base. With the upcoming launch of its token and the new features of Pump Advance, Pump.fun could further establish itself as a leading reference in the memecoin universe on Solana.
