Pump.fun's daily trading volume plummeted 82% to $560 million, reaching its lowest level since Christmas

According to The Block, the trading volume of Pump.fun token on Solana has recently cooled down, with an average daily trading volume of only $560 million in the past week, hitting a new low since Christmas 2024, a significant decrease of 82% compared to the daily high of $3.13 billion three weeks ago. In addition, the Raydium graduation rate of Pump.fun token is also decreasing, with an average of only 1.04% of tokens successfully graduating last week, compared to 1.54% and 1.59% in the first two weeks, respectively. Meanwhile, the tip for Jito validators on Solana's network has decreased from 68500 SOL ($17.5 million) two weeks ago to 23800 SOL ($4.8 million) last week, indicating a decrease in trading activity. Solana's recent cryptocurrency market has been described as the "euthanasia roller coaster" effect, where the market value peak of each new coin gradually decreases. For example, TRUMP once reached $75 billion in FDV, while subsequent market cap peaks for MELANIA, VINE, JELLYJELLY, and the latest JAILSTOOL decreased to $13 billion, $500 million, $250 million, and $220 million, respectively, indicating a gradual cooling of market sentiment.