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$BTC $SOL On May 11th, CoinGecko released a report: 73% of traders on Pump.fun are profitable, with over 50% for four consecutive months. It looks like a recovery on the surface, but the data tells a different story.$PUMP
First, look at monthly active wallets: the peak in May 2025 was 5.2 million → by December 2025, only 1.8 million remained. 3.4 million wallets left — it’s not that the platform got better, but that those losing money withdrew, leaving the 1.8 million as “survivors.”
Further, regarding revenue: the protocol’s income for the entire year of 2025 was $971 million, with an annualized projection for 2026 dropping to only $320 million. Revenue has been halved, but the “profitability rate” has increased — this is a statistical trick after retail investors were phased out.
As for the wallets that are profitable: 65.1% only earn $1-500, and only 5.4% actually earn $1,000 or more. So “70% profitability” sounds great, but most people are earning pocket change.