Onchain Markets Reject New Launches as $PRINT, $SPC Debuts End Badly

After recording $200M in volume within its first two weeks, the Printr launchpad has hit a speedbump during its community presale. 

Meanwhile, Space finally launched its token, $SPC, which plummeted 90% on launch after the team pocketed an extra $11M when they changed the terms of their presale.

Despite a difficult week for TGEs, Solana memecoin volume is showing new signs of life, with weekly volume share hitting its highest point since September 2025.

Printr to Refund $2M Amidst Leadership Change

Printr, the latest memecoin launchpad seeking to usurp pump.fun’s reign of terror, has suffered a forgettable attempt at a token sale. Despite a strong opening few weeks, which saw the launchpad record over $200M in trading volume, Printr’s community token sale was plagued by controversy.

Setting out to raise $2M from depositors, Printr came under fire from community members when eagle-eyed users noted that the platform’s 𝕏 account removed “Backed by ByBit” from its official bio.

Concerns with the project were exacerbated further when $BELIEF, the launchpad’s leading token, dropped 80% in the space of two days.

With the future of the platform looking uncertain, users and community members turned to team members for guidance. However, communications from Printr leadership were not initially forthcoming, sparking concerns that the launchpad would effectively exit scam and rug its depositors.

After a tense waiting period, Printr CEO Fed announced he would be stepping down as CEO of the protocol, citing chronic stress and health problems due to toxic messages, threats, and being scapegoated for the actions of bad actors on the platform. 

Lennon, Printr’s COO and GTM Lead, will step into the role. Printr has since refunded $2M to all contributors, and intends to “restore belief in the trenches”.

$SPC Down 93% at Launch

Elsewhere in Solana’s DeFi economy, another controversial presale has finally hit the open market with a disastrous outcome for contributors. 

Space, a Solana-based prediction market, finally launched its native token after pocketing $13M in a highly controversial January ICO. 

After initially setting a $2.5M raise target, Space reportedly changed the terms of its presale, stating that the figure was never meant to represent a hard cap. At the close of the sale, Space announced it

Fast-forward three months later, and Space has finally brought its native token to market. Despite a large-scale launch campaign and listings across numerous centralized exchanges like Kraken and Kucoin, $SPC cratered immediately at launch, currently down 93% in the last 24 hours.

According to a public statement, Space has attributed the token’s poor performance to “heavy unlocks” and “soft demands.”

Memecoin Volume Gains Momentum

Despite forgettable debuts for high-profile tokens, Solana’s onchain trading scene is starting to show signs of life. Memecoins are once again fighting to get back in the spotlight, with platforms like pump.fun witnessing a resurgence in activity.

Onchain trading data reinforces this thesis. According to Blockworks, weekly memecoin volume share on Solana has climbed to 22%, marking its highest point since September 2025.

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