If Pump.fun launches on-chain, Solana will lose over 20% of its activity.

On September 15, according to Coingecko data, Pump.fun had approximately 7.63 million transactions in the last 24 hours, accounting for about 28.5% of the 26.81 million transactions on the Solana chain in that period. Additionally, according to Jupiter data, in the market share ranking of Solana issuing platforms in the last 24 hours, Pump.fun ranked first with 90.7%, with a trading volume of 946 million USD and the number of participating addresses reaching 391,000, far ahead of other issuing platforms on the Solana chain. Its 24-hour trading volume accounted for about 19% of the nearly 4.97 billion USD DEX trading volume on the Solana chain in the last 24 hours, with the number of active addresses contributed accounting for 17% of the 2.3 million active addresses on the Solana chain in that period. Notably, according to defillama data, the fees collected by the Pump.fun protocol in the last 24 hours (including transaction fees, creation fees, etc.) amounted to 7.49 million USD, far exceeding the second place Jupiter's 3.17 million USD. The total fees collected on the Solana chain in the last 24 hours reached 27.88 million USD, with Pump.fun accounting for as much as 26.8%. In terms of protocol revenue, Pump.fun earned 3.12 million USD in the last 24 hours, far exceeding Jupiter's 730,000 USD and Phantom's 680,000 USD. Pump.fun has become an indispensable part of the Solana ecosystem, with its contribution of active users, trading volume, and revenue ranking prominently within the Solana ecosystem. Recently, there have been frequent rumors in the crypto community that Pump.fun will launch its own public chain, and ABCDE co-founder Du Jun seems to have commented on this matter, stating, "The story of Pump is only halfway told; the other half will make Solana sad."