Journalist
Posted:
- Solana -Pomp.Fun -Tokens Trade Volume fell by 81% in two weeks.
- The weak sentiment is part of a wider Altcoin -Markrout.
Solana[SOL] Pomp.Fun -Tokens, usually dominated by meme coins, lost a considerable traction in February.
In mid -January in particular, the trading volume of Pump.fun tokens peaked at $ 3.1 billion on Raydium, a decentralized exchange.
Two weeks later, the trade volume of the ecosystem fell to $ 569 million – no less than 81% decrease.
Source: The Block
It is worth pointing out that the massive volume of mid-January also coincided with the launch of Trump and Melania Meme-coin. Trump broke $ 75 billion in FDV (fully diluted value) while Melania pumped to $ 13b FDV.
Both were launched on Solana and contributed to the enormous volume that was seen in January. However, she also sucked liquidity from other tokens.
The estimated $ 10 billion wider market -dependent event at the beginning of February, the market sentiment continued.
The wider Altcoin market weakened
To put the recent liquidation cascade in perspective, the Altcoin market lost $ 234 billion in two weeks.
Simply put, the muted memecoin -trade volume is part of a broader market delay after an enormous liquidation event and macro uncertainty.
Source: Glassnode
Since last December, Altcoin market capitalization has fallen from $ 1,896 T to $ 1,450T. In the past two months, almost $ 450 billion has been swept away from the sector.
Despite the decline, some top pump were. Fun gems with considerable dominance within the AI/Defai story.
Fartcoin was at the top of the graph, while AI Rig Complex (ARC) came in second. Other AI -Tokens such as Griffain and Act were in the top 10 pump. Fun -Tokens per market hood.
Source: Coingecko
Since the AI story dominates the ecosystem, they can recover faster if it improves market sentiment than other traditional memecoins.