Pump.fun activity craters 80% in three months, dragging Solana fees lower as traders rotate into perps

Pump.fun, once a vibrant trading platform on the Solana blockchain, has seen a dramatic 80% drop in activity over the past three months, leading to a decline in Solana transaction fees as traders shift their focus to perpetual contracts (perps). The PUMP token, which powers the platform, has also plummeted 40% in value over the last six months, reflecting its diminishing influence. This shift signifies a broader trend in the crypto space where traders are moving away from less active platforms, impacting the overall ecosystem and potentially influencing future platform developments.