Overview
- PUMP rose roughly 24–25% overnight to about $0.0031, with reports of nearly $2 million in buybacks supporting the rally.
- SOL has fallen about 8% over the past week and is trading near $120–$124, with traders eyeing the $120 level after a brief breach.
- Plaintiffs filed an amended federal complaint alleging RICO violations against Baton Corp/Pump.fun, the Solana Foundation, Solana Labs, and certain officers.
- Solidus Labs’ 2025 report said 98.7% of Pump.fun tokens and most Raydium pools showed rug‑pull or pump‑and‑dump traits, and launches on Pump.fun have slowed.
- Despite price volatility and risk‑off macro moves, Solana’s on-chain usage and developer activity remain comparatively strong, pointing to narrative-driven pressure rather than degraded network fundamentals.