Pump.fun Trading Activity Plummets 80% in Three Months, Solana Network Fees Decline

According to The Block, Pump.fun's token graduation rate fell to 0.26% on a 7-day average last week, down 80% over three months. Daily revenue in June dropped to approximately $800,000, significantly below $4.8 million six months ago.

Solana network daily fees declined to 5,300 SOL in June, down from 33,000 SOL in January. Capital previously engaged in Solana meme coins has shifted toward perpetual futures trading on Hyperliquid.