泵无视链链指标：FUD燃烧火

Pump.Fun面临诉讼和令牌发起争议，但链上的数据讲述了另一个故事。它是真正的Web3进化还是计划完好的退出策略？

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.

在持续不断的加密景观中，模因硬币统治着至尊和命运在眼睛的眨眼中被（并迷失了），pump.fun在风暴的眼中找到了自己。尽管在其新的代币发布方面面临着法律斗争和社区怀疑论，但该平台的链链指标令人惊讶地具有弹性的图片。

FUD as Fuel: Pump.fun's Unlikely Resilience

FUD作为燃料：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.

最近的头条新闻一直在尖叫pump.fun的灾难。 Burwick Law提起的诉讼指控平台处理“未注册的动荡证券”，通过加密货币社区向恐惧，不确定性和怀疑（FUD）发出了涟漪。社交媒体的情绪暴跌，批评者很快预测了平台的灭亡。

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区块链指出的那样，链上的数据揭示了不同的叙述。泵的交易量仍然很健壮，甚至在Twitter恐慌之后的日子里也有所飙升。每日模因令牌交易的范围在2到270万之间，转化为1.2亿至1.84亿美元。这些数字无视其临近平台的概念。

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.”

为什么这种弹性？似乎是负面的宣传，而不是阻止用户，而是对模因硬币平台的火箭燃料。贸易商对这部戏的不满意，将这种反对视为购买机会，拥抱传统投资者经常回避的波动。正如一个模因硬币交易者所说：“ fud =燃料。”

The Token Launch: Mass Adoption or Master Exit?

令牌发布：大规模收养还是大师退出？

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.

加上另一层的阴谋，pump.fun正在进入代币发射的领域，旨在在初始的预赛阶段筹集10亿美元，并拥有40亿美元的代币估值（FDV）。这一大胆的举动引发了兴奋和争议。

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.

该公司计划向代币持有人提供收入共享，分配从1％回购机制获得的利润。尽管这可能会吸引那些寻求可持续收益的人，但批评家质疑令牌加薪的时机和结构。有些人将其视为FOMO驱动的现金抢购，而另一些人则将其视为创始团队的信号，他们正在为计划进行精心计划的出口做准备。

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.

代币的推出和缺乏归属的重复延误进一步加剧了人们的关注，这通常可以作为防止极端风险的保障。由于目前只有一小部分用户从其平台上的交易中获利，因此对生态系统的长期可持续性产生了问题。

Data Over Drama: A Lesson for Crypto Traders

戏剧性的数据：加密交易者的课程

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的故事为加密交易者提供了一个宝贵的教训：不要让情绪蒙蔽您的判断。尽管法律上的麻烦和社区怀疑可能是令人担忧的，但分析链指标并将数据与戏剧分开是至关重要的。正如最近的表演所表明的那样，这些数字通常与头条新闻不同。

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.

当然，泵是否可以环境即将到来的法律风暴并成功地导航其代币发射还有待观察。但是有一件事很清楚：这是一个平台和一个社区，拒绝安静地进入加密之夜。

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，请密切注意那些链子指标，伙计们！他们可能只是揭示下一个大型泵...或垃圾场。无论哪种方式，这都是疯狂的旅程！