Current supply situation of SOL: The circulating supply of Solana is decreasing due to many tokens being held in contracts at Pump.fun, creating a major issue for the ecosystem.

Impact from Pump.fun: Pump.fun holds over 98% of all tokens in the bonding curve stage, putting pressure on the price and liquidity of SOL.

Amount of SOL locked: It is estimated that over 58 million SOL is locked in these contracts, with transactions almost having no liquidity.

Concerning inflation rates: The nearly 5% inflation rate from validator rewards is causing SOL to lose value. Nevertheless, a significant number of tokens remain locked in contracts.

Current situation: Despite Pump.fun appearing to have a negative impact, the aggregate value on Solana still exceeds 9 billion USD. Demand remains high, helping to keep the price near its peak.