Solana-based exchange Raydium’s Ray Dives 25% while pump.fun appears to test its own exchange
Solana based on Token Issuance Platform Pump.fun may soon launch its own automatic market manufacturer (AMM), according to a URL is connected on the site. However, there is no public announcement.
AMM is a system of exchange in crypto markets that makes trading easy by using a pool pool of common, and at least, two tokens. Instead of matching buyers and sellers such as a traditional exchange, smart contracts set prices based on supply and demand and allow trading to be processed without a counterpart.
“Amm.Pump.Fun” shows a swap product in making a sale and purchase option next to a deposit and removal function. That’s the first for Pump.Fun, which gives anyone to issue a token for less than $ 2 in capital, after which it chooses the number of tokens, themes, and meme picture to accompany it.
When the market capitalization of any token reaches $ 69,000, a portion of liquidity is deposited in Solana based on Raydium based in Solana and burned (or when tokens are taken by the supply permanently).
Pump.Fun’s own AMM means that tokens no longer move to Raydium, or at least what the market thinks, dampening sentiment for ray tokens of the latter. Ray has dropped 25% in the past 24 hours in the bright development.
“They seem to be planning to have a graduate of pump tokens in their own pools instead of Raydium,” said businessman @trenchdiver101, who first led to development. “They can pick up more fees in Solana or have some mechanism to reward token holders.”
Although a portion of Raydium’s total trading activity comes from pump.fun tokens, the exchange supports many other leading markets – such as Solana (Sol) to stablecoins and others – that contributes In Its $ 500 million on average sunny trading quantities.
As such, the product could further wrap the pump.fun revenues and income, with no token but among the profitable crypto applications last year – a rare hopes in a market where businesses are quite relying on token sales to generate income.
Pump.fun has pocketed more than $ 550 million in total charge since Mar.2024, Data displayswith $ 2.4 billion in trading volume over the past two weeks. More than 8 million tokens have been issued on the platform since the launch of 2024, with a few, such as Fartcoin (Fart), which reaches billions of dollars in market capitalization.
