Pump.Fun, the popular Memecoin platform in Solana, has seen its revenue drop sharply in less than two months. Although SOL holds a strong price of $203.86, this decline remains, suggesting that there may be a crisis in the Solana Memecoin market. Amidst legal issues, controversy and intensified market saturation, BNB chains and FOR. The ultimate new alternative is becoming a promising destination for investors. Join Nftevening as we dig into the reasons behind this shift.
Current situation: Pump. Investment income dropped sharply
From defill It shows that the 24-hour fee for pump.fun has dropped to $110,726, down $15.5 million from its peak in January 2025. Although the price of Sol is still high (as of March 10, 2025), the decline is down (as of March 10, 2025), which suggests that Memecoin Market on Solana may face difficulties.
Source: Sand Dunes
Source: Messari
The reason for the pump. FUN’s revenue declines
- Legal issues and disputes: Pump.Fun is facing a lawsuit banning the UK Financial Authority and disputes over live broadcast content, resulting in a loss of user trust.
- Market downturn: BTC and Altcoins’ nearest dumps may have exhausted traders’ capital, preventing them from getting enough cash to trade Memecoins, a high-risk industry.
- Did Solana lose Degen appeal? The price of Solana tokens has been falling, with the 24-hour trading volume of Solana-based DEXS has dropped to $1.94 billion, while the specific volume of Pump.Fun is only $95.8 million.
Future prospects and comparison with BNB chains
The BNB chain is currently experiencing growth, with application revenue reaching $16.5 million in February 2025, while Solana’s revenue fell by more than 50% (according to Cointelegraph’s X Post). FORT. The most typical example on the BNB chain is a successful example, and although the pump may be considered for expansion, there is no formal announcement.
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Detailed research report
Background and current data
Pump.Fun is Memecoin Launchpad on the Solana blockchain, which attracted great attention in early 2024 due to its ease of creation and low fees. However, its 24-hour fee is now down to just $110,726, according to Defilama data, an all-time high of January 24, 2025 ($15.5 million from historical highs) (according to CoinMarketCap). This decline occurred when Sol’s price was stable (each two as of March 10, 2025), indicating that the problem lies within the scope of Memecoin’s activity, not Sol’s valuation.
Analyze the reasons for the decline in revenue
Several key factors contributed to this decline:
Legal and regulatory challenges
- Ongoing lawsuits: Pump.Fun faces class action lawsuits, including allegations of selling unregistered securities. The platform has reportedly incurred nearly $500 million in fees, resulting in legal scrutiny.
- Regulatory Injunction: UK financial authorities banned the use of pumps by the end of 2024. Its user base has been greatly reduced.
Source: Defillama
Disputes and reputational damage
- Live broadcast questions: Pump.Fun’s live broadcast feature has sparked controversy, which contains disturbing content such as self-harm threats and animal cruelty. This leads to a ban on live streaming and a 33% drop in revenuefurther shake community trust.
- Exploitation scandal: Hackers involved in pumps. FUN-related vulnerabilities were arrested in London, which increased the instability of the platform (piece).
Market saturation and investor fatigue
- The Memecoin market on Solana may have been oversaturated with over 6 million tokens. This phenomenon leads to scam tokens, intense competition and less attractiveness.
- After a previous trading cycle, investors may run out of capital, especially in speculative sectors such as Memecoins.
The hype is down
Solana’s ecosystem, once known for its “Degen” culture, may lose its appeal as investors turn to other chains such as BNB chains.
Comparison with BNB chain and four.
The importance of commemoration in a bear market
Members like Dogecoin, Shiba Inu and emerging tokens such as MoodEng are often considered speculative assets. Unlike traditional cryptocurrencies, Memecoin relies heavily on community engagement and social media virality rather than technological advancements. According to ChainCatcher, Memecoins’ average return rate in 2024 is +1300%, indicating that they are very attractive to market volatility.
In bearish market conditions, when Bitcoin and Ethereum value falls, it may become an alternative investment option due to its viral nature and rapid profit potential. For example, in 2021, despite signs of a market downturn, influencers like the online community and Elon Musk have driven a lot of growth.
Comparison of BNB chains and Solana performance
BNB chains are experiencing significant growth, especially in the DAPP and MEMECOIN sectors. According to Cointelegraph, BNB Chain’s application revenue reached $16.5 million in February 2025, reflecting an increase in trading activity and liquidity.
Source: Defilama BNB Chain
On the other hand, Solana, once the highest Memecoin platform, is facing a decline in revenue due to Pump.Fun. Data from Defilama shows that it is likely to drop by more than 50% due to the decrease in DAPP activity, especially in Memecoins. This shift highlights the appeal of BNB chains to the stronger ecosystem of Memecoin projects.
Source: Defilama Solana Chain
Pump.fun’s controversy and four-person chance
According to Decrypt, Pump.Fun is a Solana-based Memecoin launch platform that once flourished, creating more than 5 million tokens. But it has recently fallen into controversy due to its live broadcast feature, where users engage in extreme behaviors, including suicide threats, violence and illegal activities to facilitate tokens, according to the Bank. This led to the suspension of live broadcast function in November 2024, damaging the pump. FUN’s reputation and improves user security issues. Weekly revenue fell from $11 million to $6 million.
at the same time, Fourthe first Memecoin Launchpad on the BNB chain (cited by Dappbay) is becoming a safer and more stable alternative. Four.meme operates with greater transparency and avoids ethical issues with pumps. It has a 2025 technology roadmap with a focus on faster transactions and AI integration, supported by the broad ecosystem of BNB chains, according to BNB Chain Blog. This creates a favorable environment for Memecoin growth, especially when Solana faces a decline in interactions.
Why BNB Chain is a new hot spot for Memecoins
In some cases, the BNB chain offers transaction fees less than Solana, coupled with strong community support and strong DAPP development tools. According to YCHARTS, the average transaction fee for BNB chains in February 2025 is 0.0005 BNB (About $0.33 per transaction, BNB priced at $546). Solana’s cost is lower $0.00125 per transactionAccording to Solana Compass, BNB chains are compensated through a more stable ecosystem and like TVL Incentive Program (reported by BNB Chain), attracting liquidity and Memecoin investors.
Additionally, the BNB chain saw a surge in Memecoin activity, with four of them. According to Dappbay, Four.meme successfully launched multiple Memecoins to attract users using the BNB chain ecosystem. This liquidity shift shows BNB chain is becoming a new hot spot for Memecoin investors.
Future prospects of pump.fun
Pump.Fun has taken steps to improve its platform, such as launching “Pump Advanced” (a advanced trading terminal) and planning its own token release. However, no official plans for expansion to other blockchains such as BNB chains have been announced.
Some people guess, pump. FUN can follow four models, but this situation remains uncertain and has high risk due to the speculative nature of Memecoins.
in conclusion
The decline in Pump.Fun’s revenue highlights major challenges, including legal troubles, controversy and market saturation. Meanwhile, BNB chains and Four.meme attract more liquidity, indicating a potential transfer in the Memecoin sector.
