CandleFocus Pump.fun Accounted for 62% of Solana DEX Transactions in November, So Far
2024-11-26
Author: Content Editor
Tokens created on Pump.fun have accounted for the majority of decentralized exchange (DEX) transactions on the Solana network in November, with 62.3% of all transactions and 42.3% of the transaction volume. Pump.fun, a platform that allows anyone to launch a token, has become a significant part of the Solana ecosystem, birthing popular meme coins. However, the platform has also faced controversy due to the appearance of controversial, morally questionable, and illegal tokens, as well as disturbing livestreams featuring animal threats, violence, and potentially fake suicides. There are calls to shut down the livestreaming feature, and legal experts suggest that Pump.fun may be breaking the law, potentially jeopardizing its future. If Pump.fun is banned, it could have a negative impact on Solana, as the platform heavily relies on the tokens created on Pump.fun.
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