Pump.fun's Price Drops 3% Amid Record Trading Volume and Project Ascend Launch

Pump.fun's latest price was $0.004746, down 2.998% in the last 24 hours. Pump.fun, a decentralized exchange, has been making waves in the Solana ecosystem. Its platform, PumpSwap, has recently achieved a historic milestone by recording an all-time high daily trading volume, surpassing its competitors Meteora and Raydium. This achievement has reignited interest in Pump.fun's live streaming feature, which has been a significant draw for users.

Pump.fun has been actively engaging with its community through various initiatives. Recently, the platform introduced Project Ascend, a significant update aimed at enhancing the sustainability and consistency of projects within its ecosystem. This update includes dynamic fee structures and expanded tools for creators, designed to boost creator earnings and accelerate community takeovers (CTO) fee applications. The Solana Foundation, which manages the official Solana X account, highlighted that this update is part of a broader shift in the digital creator economy. Unlike traditional models where creators chase views for ad revenue, Pump.fun's new structure emphasizes monetizing deep content and building genuine community connections.

One of the key innovations of Project Ascend is the dynamic fee V1 system. This system adjusts fees based on the market cap of the tokens, starting at 0.95% for tokens with a market cap below 30 million dollars and gradually decreasing to 0.05% for larger projects. This tiered fee structure applies to all tokens on PumpSwap, benefiting both new and existing projects. By charging higher fees for smaller projects and reducing them as the token grows, the system aims to provide necessary funding while not hindering the trading of mature assets. Pump.fun believes this change will increase creators' profits by tenfold, a claim supported by data showing that creators earned 2.4 million dollars in the first day after the upgrade.

Alongside the fee updates, Pump.fun has been enhancing its streaming and "creator economy" features. The platform introduced the Creator Capital Market (CCM) concept, which combines real-time content creation with tokenized incentives. This allows fans to invest in the success of their favorite creators by purchasing their tokens, sharing in their growth rather than just tipping or subscribing. However, some traders have expressed concerns that the higher creator fees could increase transaction costs and potentially revive issues seen in the 2024 live streaming era. For instance, a user named dethective on X highlighted a case where two streamers allegedly used Project Ascend's dynamic fee system to execute a "rug pull," earning 13,990 dollars in fees while the token's value plummeted 80% within a minute after the stream ended. Soju, a co-founder of Meteora, also criticized the update, suggesting it could incentivize wash trading to maximize fees.

These developments have sparked a debate about whether Pump.fun's new model enhances sustainability or introduces new risks for market participants. Despite the concerns, Pump.fun's recent achievements, including a record-breaking trading day and significant payments to creators, indicate that the platform is successfully revitalizing its ecosystem. However, questions remain about whether these innovations can translate into a sustainable platform and whether the increased rewards can maintain interest and community growth beyond the initial hype. Supporters of Pump.fun view these changes as a turning point for the on-chain creator economy, while critics worry it may be just another speculative cycle. Only time will tell if Project Ascend marks a lasting evolution or a fleeting frenzy in the memecoin world.

Pump.fun has also formed a strategic partnership with MEXC, a leading global cryptocurrency exchange. This collaboration follows the successful integration of Pump.fun with MEXC's DEX+ platform earlier this year. Under this partnership, MEXC will introduce a curated series of memecoin listings in its Meme+ Trading Zone. The TBCN/USDT trading pair is scheduled to go live as the first listing on September 8, 2025, at 14:00 UTC. This collaboration aims to bring the most dynamic and trending on-chain memecoins from Pump.fun directly to MEXC's user base, providing a seamless and secure entry point into the fast-moving memecoin market. MEXC launched the Meme+ Trading Zone to capture the momentum of the memecoin market and provide users with easier access to on-chain cultural trends. Through this cooperation, MEXC will feature weekly Pump.fun recommendations, simplify on-chain participation, and enhance market diversity. Tracy Jin, COO of MEXC, stated that this partnership reflects a shared vision for driving innovation and empowering users. Alon Cohen, COO of Pump.fun, expressed excitement about expanding their partnership with MEXC to support core communities within the Pump.fun ecosystem. Starting this month, one new Pump.fun ecosystem coin will be listed on MEXC each week, designed to accelerate the growth of promising projects and help communities that may have lacked the resources or connections to secure exchange listings. This initiative aims to bring greater visibility and opportunities to strong Pump.fun communities.

Recent developments surrounding Pump.fun highlight significant partnerships and platform dynamics within the Solana ecosystem. A notable advancement involves an expanded strategic collaboration with cryptocurrency exchange MEXC. This partnership renews earlier efforts and involves the introduction of a curated series of memecoin listings on MEXC's dedicated Meme+ Trading Zone. Crucially, the initiative commits to featuring one new Pump.fun ecosystem coin listed on MEXC each week, starting with the TBCN/USDT trading pair on September 8, 2025. The core objective is to facilitate broader access for emerging projects originating on Pump.fun, offering these tokens increased visibility and simplifying entry for traders by eliminating the necessity for direct Web3 wallet interactions. Executives from both companies emphasized the vision: MEXC aims to integrate grassroots token innovation seamlessly into its exchange infrastructure, while Pump.fun seeks to empower communities within its ecosystem by providing vital pathways to established trading platforms.

Simultaneously, Pump.fun continues to solidify its dominant position in facilitating token creation and trading on Solana. Recent data indicates a commanding 70.2% share of the Solana token platform market as of early September 2025. This underscores its role as the primary venue for new token launches within this ecosystem. The platform's functionality was also in focus, with reports indicating high engagement from token creators. Metrics showed substantial creator fee payouts exceeding $12 million claimed over a recent seven-day period, including $1.7 million generated within a single day, reflecting significant activity and creator participation. Additionally, industry analysts suggest that Pump.fun's increasing creator rewards system may drive further platform enhancements, potentially leading to higher concurrent streams, unique streamers, viewer numbers, and elevated creator content quality.

Amidst this growth, there are indications that Pump.fun may be exploring adjustments to its model or introducing new features. Some commentary points towards potential initiatives aimed at moderating excessive hype surrounding newly launched assets while fostering more sustainable growth within the memecoin segment. Specific details regarding these possible changes remain undisclosed, but the suggestion aligns with a maturing approach towards the often-volatile token launch landscape the platform inhabits.