Pump.fun is rolling out referral rewards again today, with both sides eligible to earn up to about $50. But new users must trade on at least 5 days within 10 days, or the rewards will be void.
The figures circulating on X during the day on October 19 also included Bitquery data: across the past 10 launch weeks, about three-quarters of regular buyers were down after two weeks, losing a total of roughly $269 million. The median buyer lost about $13, while the top 1% took about 56% of the profits. CoinGecko puts spot PUMP at around $0.00447, up about 4.2% over 24 hours (snapshot at approximately 20:11 Beijing time).
I think the platform is ramping up user acquisition, but the odds haven’t changed. The reward requirements are really pushing you to trade more, not improving the odds.
I’d treat the referral campaign as noise and watch just two things. If the share of users losing money, according to Bitquery-like data, drops clearly below 60%, I’ll reassess the quality of launch trading. If spot falls below $0.0038 on rising volume, I’ll take this campaign as a sign that sentiment has been overextended.
Do you think this is the community making a comeback, or the platform continuing to skim fees? I lean toward the latter. First, I’ll see whether the trading-day requirement pushes losing users even deeper into the red.
$PUMP $BONK $SOL
#Pumpfun #Meme coin
The figures circulating on X during the day on October 19 also included Bitquery data: across the past 10 launch weeks, about three-quarters of regular buyers were down after two weeks, losing a total of roughly $269 million. The median buyer lost about $13, while the top 1% took about 56% of the profits. CoinGecko puts spot PUMP at around $0.00447, up about 4.2% over 24 hours (snapshot at approximately 20:11 Beijing time).
I think the platform is ramping up user acquisition, but the odds haven’t changed. The reward requirements are really pushing you to trade more, not improving the odds.
I’d treat the referral campaign as noise and watch just two things. If the share of users losing money, according to Bitquery-like data, drops clearly below 60%, I’ll reassess the quality of launch trading. If spot falls below $0.0038 on rising volume, I’ll take this campaign as a sign that sentiment has been overextended.
Do you think this is the community making a comeback, or the platform continuing to skim fees? I lean toward the latter. First, I’ll see whether the trading-day requirement pushes losing users even deeper into the red.
$PUMP $BONK $SOL
#Pumpfun #Meme coin