Crypto Scenario Insights
What happened
An 80% drop in Pump.fun activity over three months has led to a notable decline in Solana network fees. This shift highlights a broader capital rotation from highly speculative spot memecoins toward perpetual contracts…
What we think
The most likely outcome is a stabilization of Solana's network fees at a lower baseline (55% probability) as retail traders rotate from highly speculative spot memecoins to leveraged perpetual contracts.
Read the analysis
Solana's Fee Engine Slows: Does the 80% Pump.fun Decline Signal a Structural Shift to Perps?
We explain what happened and what could follow. We do not forecast prices.