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#Bitcoin is ready for the next leg down Bitcoin will dump below 80k this week Keep our shorts from 90, 87k open!

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Raydium, the well-established decentralized exchange (DEX) on the Solana blockchain, is set to directly compete with the meme coin launchpad Pump.fun by launching its own platform called LaunchLab . This announcement comes just days after Pump.fun, which recently launched its own DEX, PumpSwap, is facing a revenue dip and increased competition in the Solana ecosystem. Pump.fun has been having mixed success lately. While it attracted millions of users and generated over $600 million in revenue, most of the 8.7 million tokens created have lost value. Only four have maintained a market capitalization above $100 million. In response to a nearly 60% drop in monthly revenue, is why Pump.fun had launched PumpSwap. Since its debut in January 2024, Pump.fun has attracted a large number of users eager to easily create their own meme coins. The platform allows anyone with a Solana wallet to generate tokens without needing any coding skills. While Pump.fun has generated over $600 million in revenue, the majority of the tokens created have either lost their value or completely disappeared from the market. Currently, only four tokens from the initial launch have a market cap exceeding $100 million, highlighting the inherent volatility within the meme coin market. To address the recent drop in revenue, Pump.fun launched PumpSwap , a native decentralized exchange built directly on the Solana blockchain. The primary goal of this new platform is to speed up the token launch process by eliminating the previous reliance on liquidity pools on Raydium. Related: Pump.fun: Here’s Why We Launched Our Own DEX, PumpSwap Now, tokens are launched immediately after their bonding curve is complete, and migrations happen instantly without any fees. This change addresses a previous pain point where the platform charged a 6 SOL migration fee, which was considered a barrier by many users. PumpSwap operates with a fee structure similar to other decentralized exchanges, charging a 0.25% fee on each trade. Of this fee, 0.20% is allocated to liquidity providers, while the remaining 0.05% goes to the Pump.fun protocol itself. Beyond the fee structure, Pump.fun has emphasized security, with PumpSwap undergoing nine independent audits. The platform also has plans to further open-source the program code to enhance both transparency and security for its users. Related: Pump.fun Token Graduation Rate Plunge: Is the Platform in Trouble? The launch of PumpSwap occurs at a time when the competition within the Solana memecoin ecosystem is becoming increasingly fierce. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

If 83.5k breaks again soon, I believe that will open the slide up to the next leg down👀

ETH open interest hits new ATH. Study past peaks like 4.21M ETH (Jul ‘22) & $12.6B USD (Nov ‘21) Thanks me later on 👊🏻