PUMP.FUN DOUBLES DOWN ON MEMECOIN CRAZE BY STARTING MOBILE APP AS NEW TOKEN LAUNCH HITS RECORD

Summary from the TLDR Crypto newsletter

Memecoin launchpad Pump.fun has announced a new mobile app allowing users to create Solana-based tokens easier than ever, despite facing a recent class-action lawsuit over securities law violations. CoinGecko COO Bobby Ong reports that there were 600,000 token launches in January, a 12-fold increase from the previous year, and attributes this surge to platforms like Pump.fun. The proliferation of new tokens has raised concerns about market fragmentation, with Ong warning that the increasing dispersion of liquidity and trader attention could prevent significant price movements typical of previous market cycles.