Solana’s Pump.fun Platform Faces Scrutiny as 98.6% of Altcoins Turn into Rug Pulls
A recent investigation into Pump.fun, a popular altcoin issuance platform on the solana blockchain, has revealed alarming levels of fraudulent activity. Between January 2024 and March 2025, over seven million altcoins were created on the platform, with a staggering 98.6% of them collapsing into rug-pull or pump-and-dump schemes. This has left countless investors facing significant losses, casting a shadow over Solana’s reputation as a hub for low-cost, high-speed transactions. The survival rate of these altcoins was a mere 1.4%, highlighting the risks associated with speculative investments in the crypto space. As of May 2025, the fallout from these schemes continues to impact the broader Solana ecosystem, raising questions about regulatory oversight and investor protection in decentralized finance.
Rug Pull Schemes Drain Investors: Solana Altcoin Projects Collapse
A comprehensive review has exposed rampant fraud within Pump.fun, an altcoin issuance platform operating on the Solana blockchain. Over seven million altcoins created via this platform between January 2024 and March 2025 had only a 1.4% survival rate. The remaining 98.6% turned into classic rug-pull or pump-and-dump schemes, adversely affecting investors.
Pump.fun became a hub for coin speculation, lured by Solana’s low transaction fees and user-friendly DEX interface. Altcoins traded on Pump.fun showed a daily volume exceeding $100 million, with activity primarily fueled by short-term profit seekers.
Goatseus Maximus (GOAT) Meme Coin Shows Volatile Potential Amid Solana Hype
Goatseus Maximus, a Solana-based meme coin inspired by AI, trades at $0.22334994 with a $225 million market cap. Analysts project a possible 5X surge to $1.89 by 2025, with ambitious $6.93 targets by 2030.
The coin’s 24-hour trading volume of $412.9 million reflects intense speculation, though concerns persist about long-term viability. Its origins trace back to Pump.fun creator @Ezx7c1 before adoption by Truth Terminal, fueling retail investor interest.
As Solana’s ecosystem grows, GOAT exemplifies the high-risk, high-reward dynamics of meme coins. Market watchers note its performance could signal broader trends for speculative assets in the current cycle.
Alameda Research Unstakes $32M in Solana — Market Braces for Potential Sell-Off
Alameda Research, the defunct trading firm linked to FTX’s collapse, has unstaked approximately 187,600 SOL ($32.79 million) from a known bankruptcy-associated address. The move, executed on May 12, leaves over $900 million in Solana still locked in staking under the same wallet.
Market participants are scrutinizing whether this signals a routine reallocation or the precursor to a larger liquidation event. The unstaked tokens remain idle as of reporting, but Alameda’s history of large-scale asset movements has injected volatility concerns into SOL’s trading dynamics.
DeFi Development Expands Solana Holdings to Over $100M in Strategic Crypto Pivot
DeFi Development, the Nasdaq-listed firm formerly known as Janover, has aggressively increased its exposure to Solana’s SOL token, with its latest purchase pushing total crypto holdings beyond $100 million. The Florida-based company acquired 172,670 SOL at an average price of $136.81, marking a $23.6 million investment—its largest since announcing its crypto strategy last month.
The firm now holds 595,988 SOL, valued at approximately $105 million at current prices. These tokens will be staked long-term across multiple validators, including the company’s own infrastructure, to generate yield. Shareholders now have an exposure of 0.293 SOL per share, equivalent to roughly $50.42.
Market reaction was immediate: shares surged 20% to $90 in early Monday trading, compounding Friday’s 30% gain as crypto markets rallied. The MOVE underscores institutional confidence in Solana’s ecosystem amid broader DeFi growth.
