Pump.fun Makes a Record $436M Withdrawal as the Memecoin Era Comes to an End
Pump.fun, one of the star platforms in the crypto universe on Solana, just emptied its wallets to the tune of 900 million dollars in stablecoin, without a word. This massive withdrawal shakes an already fragile crypto market. We give you all the details in the following paragraphs.
In brief
- Pump.fun withdrew 900 million dollars in stablecoins, fueling distrust in the crypto ecosystem.
- The crypto project’s disengagement embodies the exhaustion of the memecoin market and investor distrust.
Pump.fun, a crypto platform in full withdrawal mode
Since mid-October, onchain transactions reveal crypto transfers of :
- 405 million dollars to Kraken ;
- 466 million dollars to Circle.
Some crypto analysts confirm it: this liquidity comes from a private sale of the $PUMP token, conducted in June during a 720 million dollar fundraising. At that time, insiders held 55% of the total supply. Today, the price of the crypto asset collapses below its initial level: $0.0026, compared to $0.004.
The team’s silence increases distrust. Until now, they have published neither a statement nor an official message. Users, already cooled by the protocol’s performance, thus denounce a disguised abandonment.
The figures confirm the trend:
- revenues cut in half;
- exchange volume in decline;
- drop in memecoin trading.
Signs of a widespread disenchantment
Retail no longer follows. Promises of crypto airdrops , viral campaigns and the community illusion are no longer enough to mask opaque governance. The “Mayhem” mode, meant to stimulate launches via AI, was a flop. Onchain activity declines and legal actions pile up.
The Pump.fun case symbolizes the exhaustion of a crypto model: too focused on speculation and too little built on solid foundations. Crypto trading does not forgive opacity. A decentralized platform that wanted to be disruptive ends up looking like an exit counter.
As euphoria fades, the crypto sector rediscovers its fragilities. Precisely, the disengagement of Pump.fun could mark a turning point: a return to sobriety. The crypto ecosystem has no shortage of tools, but it must regain trust, unless other players take advantage of this gap to rebuild a more sustainable model.
