Solana "minted" 260,000 new tokens in a day—but 260,000 isn’t the same as 260,000 winners.
According to Solscan data, from September 9 to 10, Solana saw more than 263,000 new SPL tokens added in a single day—over 5 times the peak of the 2024 December Meme cycle (a daily average of 40,000–50,000). Of these, around 40,000 went through launchpads, and Pump.fun alone accounted for about 85%. During the same period, Pump.fun’s daily revenue was about $1.8 million—making it the most profitable native protocol on Solana.
My take: this suggests the "on-chain casino" is hot again, but with a shorter lifespan, lower valuations, and only a very small number manage to survive. The launchpad wars on the Robinhood Chain (like PONS, etc.) also pulled some attention away. The real winners may not be any single coin, but rather the "landlords" at the base—Pump.fun’s $PUMP uses transaction fees to buy back and burn.
But there’s a risk in September that can’t be avoided: the token unlock wave. In the Solana ecosystem, TRUMP has a linear unlock this month of about 28.27 million tokens (around $60 million, representing 10.35% of circulating supply), while PUMP is about 6.875 billion tokens (around $28.8 million). In a window where the sector is already lagging and liquidity is relatively tight, this additional supply will weigh on upside rebound potential.
Do you think this wave of on-chain hype is the "eve of a new cycle," or another fleeting pulse of "mint it and it’s gone"?👇
#Binance #MemeCoin（watch, not investment advice）
According to Solscan data, from September 9 to 10, Solana saw more than 263,000 new SPL tokens added in a single day—over 5 times the peak of the 2024 December Meme cycle (a daily average of 40,000–50,000). Of these, around 40,000 went through launchpads, and Pump.fun alone accounted for about 85%. During the same period, Pump.fun’s daily revenue was about $1.8 million—making it the most profitable native protocol on Solana.
My take: this suggests the "on-chain casino" is hot again, but with a shorter lifespan, lower valuations, and only a very small number manage to survive. The launchpad wars on the Robinhood Chain (like PONS, etc.) also pulled some attention away. The real winners may not be any single coin, but rather the "landlords" at the base—Pump.fun’s $PUMP uses transaction fees to buy back and burn.
But there’s a risk in September that can’t be avoided: the token unlock wave. In the Solana ecosystem, TRUMP has a linear unlock this month of about 28.27 million tokens (around $60 million, representing 10.35% of circulating supply), while PUMP is about 6.875 billion tokens (around $28.8 million). In a window where the sector is already lagging and liquidity is relatively tight, this additional supply will weigh on upside rebound potential.
Do you think this wave of on-chain hype is the "eve of a new cycle," or another fleeting pulse of "mint it and it’s gone"?👇
#Binance #MemeCoin（watch, not investment advice）