How liquid are new Solana tokens?
We measured how much a trader could buy or sell before moving the price 2% in the 3,000 newest Meteora DAMM v2 pools, the pools launchpad tokens graduate into. Depth comes from each pool's on-chain liquidity, not reported volume.
| Launchpad | Pools | Median TVL | Median ±2% depth | Share under $100 depth |
|---|---|---|---|---|
| met-dbc | 2,626 | $0.18 | $0.002 | 100.0% |
| stonkfun | 74 | $1.64 | $0.009 | 100.0% |
| pump.fun | 42 | $0.95 | $0.006 | 100.0% |
| raydium-launchlab | 9 | $9.09 | $0.050 | 100.0% |
| ember | 3 | $2.3 | $0.014 | 100.0% |
| letsbonk.fun | 1 | $2.32 | $0.012 | 100.0% |
Method
Pools were discovered newest-first through Meteora's public DAMM v2 data API. Only pools with a launchpad and a USDC or SOL quote were valued.
For each pool we read liquidity and sqrt_price from its mainnet account and computed the quote needed to move the price 2% each way: Δquote = L·(√P₂ − √P₁)/2¹²⁸, clamped to the pool's price range. Depth is the smaller of the bid and ask side, converted to USD with the quote token's price.
Limits. This is one snapshot of recently created pools, most of them days old, on one venue. It says nothing about a token's liquidity on other venues, about whether a team has a budget, or whether anyone wants to trade it: a thin pool can mean a neglected market, missing quote capital, or no demand. Some pools pair large trailing 24-hour volume with almost no current depth, which fits liquidity that was withdrawn after trading; that pattern needs a time series, not a snapshot, before drawing conclusions. Treat the numbers as where the problem shows, not as a count of buyers.
Reproduce it with npx tsx scripts/liquidity-study.ts --pages 30 from the repository.