For Layer 1 networks, cost effectiveness is not limited to technology. Solana fits the bill perfectly.
As a Tier 1 that supports the entire ecosystem, Solana’s growth story is not just about cost or creating value for token holders. It is also linked to how the software and protocols within its environment work on the system, driving network demand, revenue, and overall activity.
With this in mind, Pump.fun is back on the scene.
The platform also sold another 122,498 SOL, worth $10.08 million. This brings its total SOL sales to 4,656,826 SOL, worth $794.8 million, at a retail price of $170.70.
The chart below shows why this recent move has become a hot topic of discussion.
Obviously, Pump.fun has been one of Solana’s biggest selling points.
Daily Spot Volume has risen to about $725 million, with more than 517,000 wallets connecting to DEXs on the chain.
Also, since June 27, Pump.fun’s income has increased by 32.2%, while the weekly DEX trade has increased by 57.2% compared to the beginning of June.
As one of Solana’s flagship programs, Pump.fun continues to be a key driver of chain activity.
Based on this, its latest product SOL has caught the attention of the market. The move also sparked a debate over Pump.fun’s “subsidiary” issue, with experts arguing that the platform is taking value out of the environment instead of giving it back to Solana.
As a result, some market participants are becoming skeptical Solana’s (SOL) Q3 form.
Pump.fun wave tests Solana’s basics
On the one hand, Pump.fun’s growth reflects the strength of Solana’s network.
The thesis is straightforward. As the leading memecoin launchpad, Pump.fun can create this level of sales because Solana provides funding, as well as low-cost support. From the network’s point of view, that’s a useful indicator, because high activity means strong demand for Solana’s infrastructure.
The to arguehowever, it starts with how the cost is distributed.
From a technical perspective, this debate is starting to get interesting. Despite strong online activity and rising metrics, SOL is still struggling to recapture the $100 level. With SOL’s recent $10 million sell-off adding pressure, major resistance around $80 remains a major challenge for bulls.
This puts Solana’s originals under the spotlight.
With Pump.fun’s selling pressure and an increasingly risky market, the big question is whether the size of Solana’s network and on-chain activity will mean enough value to push SOL above the major resistance levels.
If not, the weakness can outweigh the ability, creating a difficult Q3 installation.
Brief Summary
- Pump.fun is running strong operations on Solana, but its SOL product has raised concerns about leaving the ecosystem.
- SOL remains under pressure despite a strong start, with Q3 depending on whether network growth can handle sales.
