Daily Crypto NewsEDITION #1029, 12 August

Pump.Fun – Worse Than a Casino? Things Aren't What They Seem…

Today is International Youth Day. We’re all young here, at least in spirit and mind! After all, we're deep into crypto, cracking up at memes, and creating something new. Happy Youth Day, everyone.

Now, let’s get down to the essentials because we value your time—time is Moni.

What’s up?

Some communities, just like Crypto Twitter, have been busy these past few days exposing meme coins, specifically pump.fun.

They’re saying that pump.fun has worse returns than any casino game.

Looking at Dune Analytics, we can see that only 1.4% of pump.fun tokens make it to Raydium, meaning they raise enough funds to get listed on a DEX.

Here are more numbers:

- 1,700,691 tokens launched

- 23,810 make it

Scary, right? Yes. But there’s a catch.

The meme narrative is overheated right now. The more people latch onto a narrative the harder it is to profit. We’ve seen this with airdrops.

So, it’s not so much the fault of pump.fun and meme coins, but rather a natural progression of the narrative.

The ones who profit are those who get into the narrative first. Like when we expertly played the SocialFi or the TON memecoins narratives.

Because we were among the first.

The last ones are left with scraps. If they’re lucky.

That’s why we’re focused on finding narratives we can jump on and profit from.

– What about ETH tokens?

Hm, "ETH-beta tokens." Some market players were heavily betting on them, thinking that an Ethereum ETF would pump them.

Here’s where we stand (prices from 2023):

- $ARB: -51%

- $LDO: -43%

- $OP: -16%

- $DYDX: -68%

And so on.

So far, it looks cringe. Better to look for something new and keep an eye on Ethereum ($ETH) itself.

– Don’t forget to claim $UWU. For those in Cosmos, wait another month or two.

Click 👈