CandleFocus Solana circulating supply decreases as failed Pump.fun launches lead to frozen SOL tokens
2024-11-29
Author: Content Editor
The creation of meme tokens on the Solana blockchain has led to a significant amount of SOL tokens becoming locked in failed launches. Pump.fun, a popular platform for meme token creation, still holds the majority of tokens at the bonding curve stage along with their SOL deposits. Many of these tokens are unable to reach the required market cap to leave the bonding curve, resulting in limited liquidity and potential rug pulls. Pump.fun is responsible for 70% of all tokens generated on Solana. The SOL locked in bonding curve tokens may come from creators, bots, and early traders. Despite the locked tokens, SOL remains deflationary and valuable with no pressure to trade or sell. The total value locked on Solana, including both DEXs and lending protocols, is now above $9 billion.
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