Pump.fun accounts for 62% of transactions on Solana in November

In November, Pump.fun accounted for 62.3% of the total transactions on the decentralized exchange (DEX) of Solana, demonstrating the significant dominance of this platform in trading activities. This is the first time this rate has reached such a high level, reflecting strong growth in demand for tokens created on Pump.fun.

Although Pump.fun has seen great success from launching many new tokens and fee-free trading features, the platform also faces numerous challenges regarding censorship and the low success rate of memecoin projects. Only 1.42% of the total tokens created achieved the minimum market capitalization to be listed on DEX, leading to concerns about the sustainability and viability of these projects.

However, the strong increase in the number of transactions and daily active addresses indicates that Pump.fun continues to maintain interest from the community and investors on the Solana platform.