Explicit ascent carried by fever of the same corners
At its beginnings, pump.fun upset the sector by democratization by creating the same corners on the sole. In a few clicks, anyone could start their own token and hoped to surf a viral hype. In January 2025, more than 60,000 tokens were generated every day, which in 2017 created a madness worthy of ICO.
This model generated considerable income. The costs collected in the same corners exceeded $ 5 million a day at certain times, according to reports transmitted to the X. The $ $ 1 billion project, which was launched to strengthen the ecosystem, is aimed at financing $ 1 billion.
But this madness attracted a suspicious appearance. Some observers quickly began to compare the pump.Fun with a digital casino using the nickname “slot machine of defi”. A label that, with a backward look, could hit the deadly button of the platform.
Bannings, accusations and collapse: The beginning of the end?
On Monday, June 16, the Pump.Fun account was also suspended by the founder of Alon Cohen without notice. This decision caused a wave of speculation on the XA telegram, some evoked the abuse of the API, other possible regulatory pressure. Several accounts related to similar projects (GMGN, Bullx, Bloom Trading) have also been suspended, which strengthened the idea of the coordinated Action X.
However, this Tuesday 17th June at the end of the afternoon were reactivated without an official announcement. Pump.Fun was able to restore its communication, suggesting that suspension was probably associated with automatic moderation or technical verification. The fact that no penalty has been maintained suggests that this is not a regulatory measure or a permanent ban.
At the same time, the pump faced a collective legal measure. In January, a collective appeal was filed in the United States, accusing the platform to facilitate the creation of the same corners considered an unregistered “pump and landfill” and earn almost $ 500 million. The accusation says that all tokens running through the pump.
If you want to go further: Be careful, run the pump.Fun at all costs!
A decrease in the activity and interrogation of the model
Although the pump is back, the basic indicators show a clear slowdown of their activities. According to Dune Analytics, the number of active addresses decreased daily by more than half from January, from 150,000 to approximately 50,000 in June. This decline is explained both by a structural decline in the same corners, from the scandal of weight, but also by too saturated sector, where new projects can no longer seduce investors.
In fact, more than 10 million chips were created on the platform per year. Such amount mechanically makes any significant recognition, investors found themselves in the face of excessive competition for limited speculative capital. Therefore, the project of the $ Pump project becomes more complicated in the context, when the income generated costs fell below $ 1.5 million a day.
Finally, the multiplication of internal criticism of the cryptomical community multiplies. Some users on X accused the pump.Fun of diverting attention to truly innovative projects. While others see in this case a reminder that the excesses of bulls embodied here by the same corners created in the chain often become improded.
Morality History: Pump.Fun without X, it’s like a clown without a audience: Still there, but no one laughs.
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