Memecoin launchpad pump.fun sees 80% of traders lose money

Crypto analyst arndxt reported via X that “An analysis of trading statistics on the solar-powered token issuance platform pump.fun shows that only 20% of traders are profitable. The other 80% just watched their money evaporate.” “Only 0.0028% (70 traders) made more than $1 million on pump.fun, 0.037% (924 traders) made more than $100,000, 0.477% (11,936 traders) made more than $10,000, and 3.061% (76,567 traders) made more than $1,000. The majority of the losses were among Gen Z (born 1995-2010) and Gen Alpha (born after 2010).” While PumpFun has seen an increase in revenue since its token issuance was made free on Sept. 9, the company has faced criticism for the plummeting value of most of its tokens.