Memecoin Market Nears $30 Billion as Most Pump.fun Tokens Stop Trading

Memecoin market capitalization was near $30 billion on Oct. 18, while only a small fraction of Pump.fun launches had trades in the week beginning 30 days after launch, underscoring a gap between category value and token-level activity. The category figure is a broad valuation measure, not a count of tokens with active markets or of fresh money entering the sector. Across crypto as a whole, market capitalization rose $840.1 billion, or 39.6%, to $3 trillion in the third quarter. Average daily trading volume fell 8.6% quarter over quarter to $73.3 billion. Those figures cover the entire crypto market and do not isolate memecoin prices or flows. Among 8,984,141 Pump.fun launches with enough history to observe a fifth week, 79% recorded trades only on launch day.

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