Meme-coin trading accounted for 65% of November's volume as Pump.fun's automated system, while post-election speculation fueled record activity on Solana's leading exchange.

Justin Sun has launched SunPump, a direct competitor to Solana’s Pump.fun, which enables fast and easy meme-coin creation on the Tron blockchain. The platform has quickly attracted a large user base, generating substantial revenue.

As Pump.fun's novel idea to disseminate highly speculative tokens was just getting started, the service has found itself with competition.

The attacker used service accounts to drain the project’s bonding curve contracts. The platform quickly restored its services and promised to reimburse affected users.