The average daily transaction fee of pump.fun has plummeted by 30% compared to last week, possibly due to factors such as the overall market decline
ChainCatcher news, according to The Block, the average daily fee of pump.fun last week (from June 10 to 14) was approximately $870,000. However, this week, the platform's average daily fee has dropped to about $605,000, a decrease of 30% compared to the previous week.This decline may be primarily attributed to the adverse effects of broader market conditions, as well as a 2.21% drop in the price of SOL during the week, leading to a general decrease in users' risk appetite. The significant decline in risk appetite is particularly important for platforms like pump.fun, as it represents the most extreme point on the risk curve in the industry.The assets involved and deployed on the platform are typically of the most speculative nature, attracting participants looking to make quick profits, but when the market deteriorates, they also quickly withdraw to avoid risks.Moreover, the substantial decrease in revenue compared to the previous week indicates that the amount of token deployment and overall activity has also correspondingly decreased, which may suggest that the platform and the tokens it hosts have reached a saturation point. With an excessive amount of new tokens being deployed, demand and attention may have reached a level where the platform can no longer keep up with the deployment of new tokens.
