Pump.fun said to be ditching Raydium, launching own AMM

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Crypto’s most lucrative tech marriage appears headed for a divorce.

Presently, the Solana memecoin launchpad pump.fun migrates tokens with sufficient liquidity to trade on Raydium, a Solana-based automated market maker. The so-called graduation mechanism has proven very profitable for Raydium: Pump.fun pools accounted for 36% of the DEX’s $154 million in 2024 swap revenue.

That looks set to change, as an amm.pump.fun URL recently went online, and an onchain sleuth posted evidence that pump.fun was testing liquidity pools for its own AMM. Raydium’s token is down some 40% since Sunday as…

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Issuers pile more crypto ETF plans

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We’ve rounded up the myriad of crypto ETF plans issuers are dreaming up, and launching.

The proposals continue to move beyond ones focused on solana, XRP and litecoin. 

An update from yesterday: A 19b-4 filing from Nasdaq signals Grayscale Investments’ intent to offer a Polkadot ETF. 21Shares put out a similar proposal a few weeks back. 

Polkadot (DOT) has a market cap of nearly $7 billion, ranking it 26th among crypto assets.  

The filing is not a proposal for Grayscale to convert one of its existing trusts to an ETF wrapper, like it had done with its bitcoin and ether…

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The price of bitcoin is at a ‘critical juncture’ 

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You probably saw bitcoin’s latest price plummet, briefly falling below $86,000 for the first time since November. It comes as the Bybit hack and SEC moves grab headlines — not to mention the relentless non-crypto macro developments.

Even before BTC’s drop, Bitfinex analysts laid out the scene. Bitcoin had mostly traded between $91,000 and $102,000 for weeks, rearing its head to a peak around $109,000 last month.

“Bitcoin remains at a critical juncture after nearly 90 days of consolidation,” they explained. “As market participants await a catalyst, bitcoinʼs next major move…

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