On-Chain Ecosystem Analysis - The on-chain ecosystem is experiencing very interesting times [3] - Industry is closely monitoring @RaydiumProtocol charts [2] Pump(dot)fun Analysis - Pump(dot)fun revenue chart is still in a downtrend from the January blow off top [1] - Industry believes incentives post token launch could revitalize PumpFun, depending on the implementation of a flywheel or future rewards for traders [1] - Token graduations are declining due to lack of volume, indicating a lull in the on-chain ecosystem [1] - Incentives for volume could drastically increase token graduations in the coming weeks [1] Raydium Protocol Analysis - Raydium pools are seeing an uptick in fees after the flippening from LetsBonk [2] - The Buyback program is steadily at work, which is closely monitored due to the $RAY token and its appreciation [2] - Increased revenue for Raydium will lead to a larger buyback flywheel [2]