$PUMP Unfazed as Creator Capital Markets Flounder

Creator Capital Markets (CCM) are in full swing, with pump.fun making progress on its ambitious plans to dethrone streaming giants like Twitch and Kick.

But naturally, this is crypto, and some things never change. Just as last year’s livestream meta was plagued by increasingly unhinged activity, CCM is already demonstrating a race to the bottom of human degeneracy.

Despite the crypto public’s appalled cries of disgust, markets are unfazed. However, while $PUMP continues its strong performance, rising reward claims and falling creator fees suggest the CCM meta may be winding down.

Livestream Content Trends Towards Degeneracy

People often say history doesn’t repeat, but it does rhyme. In this case, people are wrong, because the CCM meta is playing out in exactly the same way pump.fun’s livestream craze did in November 2024, albeit with far more generous cash incentives.

Creator fees on pump.fun have exploded since the launchpad introduced a new dynamic fee model on September 2nd, inspiring creators and streamers to deploy tokens en masse in the hope of earning 5-6 figures in rewards.

As before, livestreamers are clamoring for viewership by performing increasingly extreme activities. What started with aggravating strangers and being a mild nuisance has spiraled into coprophagy (poop eating) and Nazism.

Despite the widespread depravity, CCM has spawned some normal ideas. Certain creators have used the platform and its consequent rewards to fund new healthy habits, or dedicate a percentage of rewards to local charities.

Unfortunately for said streamers, shifting from established Web2 platforms to pump.fun hasn’t been smooth sailing. A creator with over 11M TikTok followers reportedly received “hate, threats, and criticism” after her coin lost value following the end of a stream.

Creator Claims Rise as Fees Fall

The CCM meta is at a critical inflection point. While the initial hysteria has worn off and the vast majority of streamer coin charts are trending downwards, CCM advocates contend that the sector is only in its first innings.

Pro-CCM personalities are championing the meta, claiming that the rewards on offer a simply too tempting for Web2 creators and emerging streamers to ignore.

Meanwhile, onchain data indicates that the trenches are already starting to reject Creator Capital Markets. While it’s perhaps still too early to draw conclusions, it’s evident that the sector is quickly becoming saturated with coins. Trader fatigue is on the rise, with memecoin trench warriors decrying the sustainably of the meta.

According to Dune Analytics data collected by adam_tehc, the volume of daily rewards has steadily dropped over the past 3 days, while the number of deployed coins continues to rise. This suggests that total volume on CCM coins is decreasing as new tokens saturate the market.

Markets Don’t Care - $PUMP Outperforms

Polarizing and contentious, pump.fun is no stranger to the spotlight. But despite the ongoing claims that ‘pump.fun ruined crypto’ markets continue to ignore the cries of anguish wailed by pump.fun’s detractors.

$PUMP has undeniably been one of the strongest-performing coins in the market in recent weeks. Crypto’s most popular token launchpad is a revenue-generating machine, consistently netting over $2M in daily volume and cementing it position as Solana’s most-valuable application.

Since introducing token buybacks, pump.fun has purchased over $104M worth of $PUMP tokens, helping to push the coin to new all-time highs of $0.0088. $PUMP is now in the process of finding new support, currently exchanging hands at $0.0079.

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