“The Growing Number of New Tokens May Lead to Liquidity Fragmentation and Decreased Trader Attmentation in Any Single Project, Coingcko Coo Said.”, – WRITE: www.coindesk.com
Pump.Fun’s New Mobile App Has Features Similar to Its Web Interface. IT ALLOWS USERS TO CREATE THEIR OWN SOLANA-BASED MEMECOINS FOR FREE AND TRADE EXISTING TOKENS WHILE ON GO. In an Announcement on Friday, The Firm Detailed that the App Includes Tools for USers to Manage Their Memocoins Portfolios and Create Customized Watchlists to Monitor Tokens.
The Launch Comes Just Weeks After Pump.Fun Was Hit with A Proposyd Class-directly Lawsuit Accessing The FIRM AND ITS Executives of Violations of Us Securities Laws. It Also Coms at A Time Who The Ongoing Memecoin Trend Only Appears to Be Accelection.
Bobby Ong, Co-Funder and Coo of Cryptocurrency Data Aggregator CoingCo, Has Highlighted On Social Media That 600,000 New Tokens Were IOD in 2024.
Ong Attributes The Explosion in Token Launches to A New MONTHLY RECORD TO TOKEN LAUNCHPADS LIKE PUMP.FUN, WHICH SIMPLIFY The PROCESS OF CREATING .
While is Now Easier than Launch New Tokens, Ong Also Pointed Out New Blockchains and Decentralized Exchanges Are Growing Rapidly. AT this Rate, He Said, There Could Be 1 Billion Tokens in Circulation “In The Next Five Years.”
The Sheer Number of New Tokens Being Launched Could Be Fragmenting AVAILBLE LIQUITY AND ATTENTION. “Too Many Tokens, Each Spreading The Limited Attraction and Liquidity of Traders Even Thinner. That’s WHY We DON’T See the Great Alt Pumps of Previous Cycles, ”Ong Said On Social Media.
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