Fidelity Investments, overseeing $15.1 trillion in client assets, took a pivotal step toward launching a solana ( SOL)-focused investment product by registering a Fidelity Solana Fund in Delaware on March 20, 2025—a precursor to a potential spot exchange-traded fund (ETF). Fidelity Enters Solana ETF Race with Strategic Delaware Move The Delaware filing (filing #10138042) paves (…)
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Fidelity Files for Solana Fund in Delaware, Signals ETF Ambitions
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Pump.fun Launches PumpSwap on Solana: Is This the End of Raydium (RAY)?
Without Pump.fun and meme coins, Solana would likely be lagging behind Ethereum and Tron. Then came meme coins like Bonk and BOME, and SOL prices turned the corner, rising from 2022 lows of around $8 to breaking all-time highs in January 2025.
Pump.fun and Rise Of Meme Coins On Solana
Pump.fun singlehandedly made Solana the go-to blockchain for launching meme coins. To launch an SPL token that can be swapped for SOL, for example, all you have to do is visit the Pump.fun homepage and choose a ticker name, a symbol, and a picture.
In the next few steps, your meme coin will be live, and if lucky enough to gain traction—say Elon Musk mentions your meme coin or it gets the attention of a developer—you’ll be set, even “graduate” and get listed on Raydium.
As more users launched meme coins on Solana via Pump.fun, the launchpad became the most profitable protocol on Solana.
However, there was another effect: since tokens with over $69,000 in market cap graduated and listed on Raydium, the DEX also became one of the top-performing protocols, riding the wave and churning out millions of dollars in revenue as traders swapped, searching for the next best Solana meme coins to buy.
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Pump.fun Says PumpSwap Is Live
This period of high performance could be over for Raydium now that Pump.fun has announced they are launching their own DEX, dubbed PumpSwap.
In a post on X, Pump.fun said PumpSwap will be a token-swapping portal powered by its own liquidity pools, placing it in direct competition with other DEXes, mainly Raydium, which has long been a hub for meme coin trading, benefiting from the Pump.fun boom.
Introducing PumpSwap, Pump’s new native DEX
beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap
PumpSwap enables
– instant migrations
– 0 migration fees (down from 6 SOL)
– more liquidity
– creator revenue sharing (coming soon)& more
pic.twitter.com/T9BkmmaVVS— pump.fun (@pumpdotfun) March 20, 2025
According to Pump.fun developers, the goal is to enhance user experience, and one way of doing so is to eliminate needless friction.
Therefore, instead of tokens with at least $69,000 in market cap migrating and listing on Raydium, they will directly list on PumpSwap without any additional fee. Previously, migrating protocols had to pay a 6 SOL fee. All migrations will also be instant.
As a way of incentivizing meme coin traders to switch to PumpSwap, developers said a percentage of their revenue will, in the coming days, be shared with coin creators. Swap fees will be set at 0.25%, with 0.20% distributed to liquidity providers and the remaining 0.05% going to the DEX.
On X, the co-founder of Pump.fun said they wanted to “get to the next level” and are now “ruthlessly reducing barriers and points of friction.”
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A Blow For Raydium?
Whether Raydium was a barrier to their success remains to be seen. What’s clear is that the move is a massive blow for the popular Solana DEX.
For months, Raydium has been synonymous with meme coin trading on Solana. In the process, RAY, the native governance token, became one of the best cryptos to buy.
It is estimated that, on average, they received 36% of their trading volume from Pump.fun every month.
By the close of 2024, Raydium made about $154 million in revenue, of which nearly half was from Pump.fun. Now that tokens won’t be trading on its rails but on PumpSwap, it means Raydium will lose a big chunk of its trading volume and revenue.
Hours after the announcement, RAY slid, losing 11%, per Coingecko data.
Will Raydium Stand Tall?
All hope is, however, not lost.
This week, Raydium launched LaunchLab, a launchpad that rivals Pump.fun but their intention is not to “steal Pump.fun users.”
It features additions such as a flexible bonding curve and multi-token support, meaning it supports tokens beyond Solana.
The launchpad also offers seamless liquidity integration that ensures the DEX remains competitive, even staving off competitors.
According to Raydium, LaunchLab is “far more versatile” and will integrate the DEX’s LP locker for Fee Key NFTs. What this means is that it locks liquidity to secure swap fees forever.
Beyond the launchpad, it may take time before PumpSwap picks up momentum. Already, Raydium is popular and has a broader user base. Per DeFiLlama, it manages over $1.1 billion as of late March 2025.
Raydium also serves other sectors, including DeFi, not just meme coins, which Pump.fun aims to capitalize on after launching PumpSwap.
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Pump.fun Launches PumpSwap, The End of Raydium?
- PumpSwap’s Edge: Fee-free migrations and revenue sharing challenge Raydium’s model
- Raydium’s Risk: Losing Pump.fun’s 36% trading volume could cut millions in revenue
- Raydium’s Response: LaunchLab aims to retain users with flexible features and broad token support
The post Pump.fun Launches PumpSwap on Solana: Is This the End of Raydium (RAY)? appeared first on 99Bitcoins.
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Solana CEO Apologises: Everything To Know About Cursed Solana Ad
Solana Labs CEO Anatoly Yakovenko has broken his silence over the controversial “America Is Back — Time to Accelerate” Solana ad.
The advert received huge backlash because it contained political messaging regarding gender identity. Yakovenko took to X late yesterday (March 19), saying, “The ad was bad, and it’s still gnawing at my soul.”
The ad was bad, and it’s still gnawing at my soul. I am ashamed I downplayed it instead of just calling it what it is – mean and punching down on a marginalized group. I am grateful for the ecosystem devs and artists that immediately called it what it is both publicly and…
— toly
(@aeyakovenko) March 19, 2025Controversial Solana Ad Stayed Up For Nine Hours And Amassed Over 1.2 Million Views
Yakovenko praised those in the Solana ecosystem who called out the “mess” that was posted on Solana’s X account. The post accumulated around 1.2 million views and 1,300 comments before it was deleted roughly nine hours later.
The CEO of Solana Labs said he will use the learning experience to ensure Solana stays focused on open-source software development and decentralization while staying firmly “out of cultural wars.”
Solana hasn’t made an official comment on the matter, though its X account reshared Yakovenko’s post to its 3.3 million followers. However, the report of Anatoly’s statement likely means that the Solana Foundation agrees with his message.
The now-deleted two-minute ad for the Solana Accelerate conference showed a man acting as America in a therapy session who said he was thinking “about innovation” such as crypto.
In response, the therapist then responded that he should instead do “something more productive, like coming up with a new gender”, going on to say the man should “focus on pronouns.”
The man snapped back, stating he wanted “to invent technologies, not genders.” The controversial Solana ad came nine days after Solana’s X account posted: “Solana is for everyone.”
Judging by the backlash to the ad and the “Solana is for everyone” post, it has come as a slight surprise due to the crypto community being seen as holding more traditionalist views and not caring for the left-wings obsession over gender ideology.
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SOL Still In The Green Even With The Advertisement Backlash
–PriceMarket Cap–––
The whole crypto market has bounced positively on the back of this weeks FOMC meeting where it was stated there will be no change to current BPS rates. However, many expected SOL to crash following the backlash of the now-deleted ad.
This hasn’t been the case and SOL is up around 2.5% over the past 24 hours. It is holding steady at around $130 and looks primed to push on to its next resistance level of $150.
Its bullish momentum is being helped along by the news of a Solana ETF launching today (March 20). While not a spot ETF, Florida-based Volatility Shares LLC is launching funds to track SOL futures.
(SOURCE)
The Volatility Shares Solana ETF (ticker SOLZ) will track Solana futures, while the Volatility Shares 2X Solana ETF (SOLT) will offer twice the leveraged exposure.
Volatility Shares LLC is a start-up ETF firm, and its CEO Justin Young said, “Our launch comes at a time of renewed optimism for cryptocurrency innovation in the US. We believe the Trump administration recognizes the strategic importance of maintaining American leadership in financial technology.”
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Solana Labs CEO Anatoly Yakovenko issues apology for the controversial ad
- The advert has since been deleted but was labelled as bigoted toward the trans community
- The price of SOL hasn’t been effected and is up 2% on the day
- SOL price momentum being kept up due to two Solana futures ETFs launching today (March 20)
The post Solana CEO Apologises: Everything To Know About Cursed Solana Ad appeared first on 99Bitcoins.
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