Solana Memecoins Suffer 90% Losses, Report Claims
A new report claims that Solana-based memecoins have lost up to 90% of their value from peak prices, implicating the launchpad Pump.fun in the creation of over 10,000 alleged "rug pulls." The analysis highlights the extreme volatility and risk within the Solana memecoin market. The report also notes the emergence of projects like Pepeto, which aim to build alternative infrastructure.
* A May 2024 analysis by blockchain risk monitoring firm Solidus Labs revealed that a staggering 98.6% of the 7 million tokens launched on Pump.fun since the beginning of 2024 were identified as rug pulls. The report also found that only about 97,000 of these tokens managed to maintain more than $1,000 in liquidity. * Pump.fun's platform has seen explosive growth, achieving over $250 million in platform fees within 10 months of its launch and boasting over 200,000 daily active users. Despite this, the "graduation rate" of tokens successfully listing on the Raydium decentralized exchange remains low at approximately 1.4%. * In May 2024, Pump.fun was exploited for nearly $2 million by a former employee who used privileged access and flash loans to compromise the platform's "bonding curve" contracts. The platform paused trading and later confirmed it would fully compensate all affected users. * The Pepeto project, built on Ethereum, aims to provide dedicated infrastructure for memecoins, including a zero-fee exchange called PepetoSwap, a cross-chain bridge, and a staking platform. The project has raised over $7.2 million in its presale and has undergone security audits from SolidProof and Coinsult. * Cross-chain interoperability is a growing focus, with a bridge between Base and Solana launched in late 2025 to facilitate asset movement between the two ecosystems. This move, however, sparked a debate within the Solana community, with some viewing it as a "vampire attack" designed to drain liquidity from Solana to Base. * The broader on-chain environment on Solana shows significant activity, with recent seven-day metrics indicating 453.5 million transactions and 18.28 million active users, ranking it #1 in users across all chains. However, despite high activity, only 20% of Solana addresses holding SOL are currently in profit. * The intersection of AI and cryptocurrency is an emerging narrative, with projects like Fetch.ai (FET) creating decentralized networks for autonomous agents, and others focusing on AI-powered data marketplaces and on-chain analytics. This trend aims to move beyond speculative trading to build utility through decentralized intelligence and automation.
