泵無視鍊鍊指標：FUD燃燒火

Pump.Fun面臨訴訟和令牌發起爭議，但鏈上的數據講述了另一個故事。它是真正的Web3進化還是計劃完好的退出策略？

In the ever-turbulent crypto landscape, where meme coins reign supreme and fortunes are made (and lost) in the blink of an eye, Pump.fun finds itself in the eye of the storm. Despite facing legal battles and community skepticism surrounding its new token launch, the platform's on-chain metrics paint a surprisingly resilient picture.

在持續不斷的加密景觀中，模因硬幣統治著至尊和命運在眼睛的眨眼中被（並迷失了），pump.fun在風暴的眼中找到了自己。儘管在其新的代幣發布方面面臨著法律鬥爭和社區懷疑論，但該平台的鍊鍊指標令人驚訝地具有彈性的圖片。

FUD as Fuel: Pump.fun's Unlikely Resilience

FUD作為燃料：泵。

Recent headlines have been screaming disaster for Pump.fun. A lawsuit filed by Burwick Law, accusing the platform of dealing in 'unregistered volatile securities,' sent ripples of fear, uncertainty, and doubt (FUD) through the crypto community. Social media sentiment plummeted, and critics were quick to predict the platform's demise.

最近的頭條新聞一直在尖叫pump.fun的災難。 Burwick Law提起的訴訟指控平台處理“未註冊的動盪證券”，通過加密貨幣社區向恐懼，不確定性和懷疑（FUD）發出了漣漪。社交媒體的情緒暴跌，批評者很快預測了平台的滅亡。

However, as Stanislav Lepka and Wu Blockchain pointed out, on-chain data reveals a different narrative. Trading volume on Pump.fun remained robust, even surging in the days following the Twitter scare. Daily meme token trades ranged between 2 to 2.7 million, translating to a whopping $120 million to $184 million in USD. These numbers defy the notion of a platform on its deathbed.

但是，正如Stanislav Lepka和Wu區塊鏈指出的那樣，鏈上的數據揭示了不同的敘述。泵的交易量仍然很健壯，甚至在Twitter恐慌之後的日子裡也有所飆升。每日模因令牌交易的範圍在2到270萬之間，轉化為1.2億至1.84億美元。這些數字無視其臨近平台的概念。

Why this resilience? It seems negative publicity, rather than deterring users, acts as rocket fuel for meme coin platforms. Traders, unfazed by the drama, view the backlash as a buying opportunity, embracing the volatility that traditional investors often shy away from. As one meme coin trader put it: “FUD = fuel.”

為什麼這種彈性？似乎是負面的宣傳，而不是阻止用戶，而是對模因硬幣平台的火箭燃料。貿易商對這部戲的不滿意，將這種反對視為購買機會，擁抱傳統投資者經常迴避的波動。正如一個模因硬幣交易者所說：“ fud =燃料。”

The Token Launch: Mass Adoption or Master Exit?

令牌發布：大規模收養還是大師退出？

Adding another layer of intrigue, Pump.fun is venturing into the realm of token launches, aiming to raise $1 billion in an initial presale stage and boasting a fully diluted valuation (FDV) of $4 billion for its token. This audacious move has sparked both excitement and controversy.

加上另一層的陰謀，pump.fun正在進入代幣發射的領域，旨在在初始的預賽階段籌集10億美元，並擁有40億美元的代幣估值（FDV）。這一大膽的舉動引發了興奮和爭議。

The company plans to offer revenue sharing to token holders, distributing profits derived from a 1% buyback mechanism. While this may appeal to those seeking sustainable yield, critics question the timing and structure of the token raise. Some see it as a cash grab driven by FOMO, while others view it as a signal from the founding team that they're preparing for a well-planned exit.

該公司計劃向代幣持有人提供收入共享，分配從1％回購機制獲得的利潤。儘管這可能會吸引那些尋求可持續收益的人，但批評家質疑令牌加薪的時機和結構。有些人將其視為FOMO驅動的現金搶購，而另一些人則將其視為創始團隊的信號，他們正在為計劃進行精心計劃的出口做準備。

Concerns are further fueled by repeated delays in the token's rollout and the absence of vesting, which would typically serve as a safeguard against extreme risk. With only a small percentage of users currently profiting from their trades on the platform, questions arise about the long-term sustainability of the ecosystem.

代幣的推出和缺乏歸屬的重複延誤進一步加劇了人們的關注，這通常可以作為防止極端風險的保障。由於目前只有一小部分用戶從其平台上的交易中獲利，因此對生態系統的長期可持續性產生了問題。

Data Over Drama: A Lesson for Crypto Traders

戲劇性的數據：加密交易者的課程

Pump.fun's story offers a valuable lesson for crypto traders: don't let emotions cloud your judgment. While legal troubles and community skepticism can be concerning, it's crucial to analyze on-chain metrics and separate the data from the drama. As recent performance shows, the numbers often tell a different story than the headlines.

Pump.Fun的故事為加密交易者提供了一個寶貴的教訓：不要讓情緒蒙蔽您的判斷。儘管法律上的麻煩和社區懷疑可能是令人擔憂的，但分析鏈指標並將數據與戲劇分開是至關重要的。正如最近的表演所表明的那樣，這些數字通常與頭條新聞不同。

Of course, it remains to be seen whether Pump.fun can weather the upcoming legal storm and successfully navigate its token launch. But one thing is clear: this is a platform, and a community, that refuses to go quietly into the crypto night.

當然，泵是否可以環境即將到來的法律風暴並成功地導航其代幣發射還有待觀察。但是有一件事很清楚：這是一個平台和一個社區，拒絕安靜地進入加密之夜。

So, keep an eye on those on-chain metrics, folks! They might just reveal the next big pump...or dump. Either way, it's going to be a wild ride!

因此，請密切注意那些鍊子指標，伙計們！他們可能只是揭示下一個大型泵...或垃圾場。無論哪種方式，這都是瘋狂的旅程！