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Following the LIBRA token controversy, Solana-based launchpad Pump.fun experienced significant decreases in new users, token launches, and fees collected. The number of new users fell by 16.4%, tokens deployed weekly decreased by 26.3%, and fees collected dropped by nearly 32%. The memecoin market cooled off after the LIBRA crash, raising concerns about insider trading and affecting Solana’s trustworthiness. This led to a 13.4% decline in the sector since Feb. 14.
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