Solana News: Declining Activity on Pump.fun and Waning SOL Liquidity Raise Concerns

Recent developments in the Solana (SOL) ecosystem have raised concerns among traders and investors, with the decline in activity on the Pump.fun platform and diminishing SOL liquidity serving as key indicators of a potential downturn.

Pump.fun Activity Halts, Solana (SOL) Inflows Dry Out

Pump.fun, a platform for launching new tokens, is seemingly grinding to a halt after traders left in droves. Solana (SOL) liquidity is diminishing, with fewer tokens graduating from bonding curves to Raydium due to lack of interest. The platform’s new launches have moved down to levels not seen since September 2024, raising doubts about a revival. Both launches and revenues on Pump.fun have declined rapidly.

Solaxy ICO Hits $23.7M, Aiming to Solve Solana’s Network Congestion

Solaxy’s ($SOLX) ICO has raised $23.7 million so far, with no signs of slowing down. The project aims to be the first Layer-2 solution for Solana, addressing persistent network congestion issues. Early investors have the chance to support the project and enhance the user experience for all Solana users. The current price of the native $SOLX token is $0.001648 per unit, with a slight increase expected as the presale progresses.

Crypto AI Agents Market Shows Mixed Signals

The crypto AI agents market is experiencing mixed performance, with some coins like VIRTUAL, AI16Z, and AIXBT gaining while others like FAI and TRAC are down. Despite this, Solana and Base continue to dominate the sector, accounting for 98% of the market cap. The overall market cap is up 24.74% in the last 24 hours but is still recovering from a significant correction over the past 30 days.

Dirty Crypto: MELANIA and LIBRA Wallets Linked to Suspected Money Laundering

Crypto investigators have flagged suspicious transactions tied to wallets associated with MELANIA and LIBRA memecoins. Blockchain data reveals large sums of money moved through these wallets, raising money laundering concerns. Notably, around 19,846 SOL, worth about $2.76 million, was used to purchase POPE memecoin but later sold for just 175 SOL, approximately $24,000. This unusual trading pattern suggests funds may have been funneled through different wallets to obscure their origins, sparking theories of wash trading or coordinated dumps.