Pump.fun buys back $15 million in tokens, value soars above $1 billion
- Pump.fun Buys Back $15 Million in Tokens
- PUMP Token surpasses US$1 billion in market capitalization
- Platform leads memecoin market on Solana network
The memecoin launchpad Pump.fun, built on the Solana blockchain, has repurchased approximately $15 million of its native token over the past two weeks. This move comes as PUMP's market capitalization has recovered, surpassing the $1 billion mark once again.
According to a market data , the token has appreciated more than 32% in the last 30 days and is currently trading around $0,0032. Buybacks, funded by fees generated on the platform itself, were carried out at up to 40% above market value in mid-August. In recent days, this difference has narrowed to approximately 20%, reducing the average cost of buybacks from $0,0058 to $0,003841, according to an onchain survey.
Still, Pump.fun has managed to sustain strong revenue performance, surpassing the $1 million per day mark since early August.
The platform's trading volume surpassed $210 million in a single day, solidifying its position as a leading token launcher within the Solana ecosystem. Currently, Pump.fun accounts for approximately 86% of token launches, surpassing competitors like LetsBonk. Last week, the project also surpassed $800 million in cumulative revenue since launch.
While Pump.fun is experiencing significant growth in usage and revenue metrics, DEX activity on the Solana network is showing signs of slowing. The number of daily users on the network's decentralized exchanges has fallen below 1 million for three consecutive days, a record high for months. This divergence highlights how a large portion of the Solana blockchain's transactions and fees are increasingly concentrated in the memecoin ecosystem led by Pump.fun.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
GTC -141.24% 24H Drop Amid Sharp Short-Term Volatility
- GTC plummeted 141.24% in 24 hours to $0.332, despite a 2830.88% monthly surge. - The token previously rose 86.71% in seven days, showing sharp short-term volatility. - Analysts suggest the crash may stem from speculative unwinding or technical stop-loss triggers. - The extreme price swings raise doubts about the sustainability of recent bullish momentum.
Investors Await Volume Confirmation as Sonic Nears Key Breakout Point
- Sonic (S) forms a bullish broadening wedge near $0.40, with price consolidating at the value area low, signaling potential upward breakout. - Key resistance at $0.40 aligns with value area high; volume surge needed for sustained move toward $0.50. - Sonic Labs’ $150M token issuance aims to boost U.S. market demand, adding fundamental catalyst for price appreciation. - Volume analysis critical: declining during consolidation, but sharp increase required to confirm bullish momentum. - Traders monitor price
Investor Attention Shifts from SUI and SHIB to BlockDAG's High-Risk Promise
- SUI and SHIB tokens struggle with stagnant prices near $3 and $0.000012, lacking bullish momentum despite strong infrastructure and partnerships. - A BlockDAG-based project raises $386M in presale, offering 2900% ROI projections, attracting investors with scalable architecture and high-risk potential. - Analysts highlight market divergence: established tokens underperform while innovative projects like BlockDAG capture investor interest despite volatility risks.
Ethereum News Today: "Arbitrum's Surge, PEPE's Dip, and MAGACOIN's Moonshot Signal Altcoin Shift"
- Arbitrum (ARB) surges 25% monthly, outperforming layer-2 and crypto markets, driven by Timeboost upgrades and PayPal PYUSD integration. - Pepe (PEPE) drops 2.85% in 24 hours despite $548M daily trading volume, with analysts warning of potential 30% 2025 decline amid shifting capital to utility tokens. - MAGACOIN FINANCE raises $12.5M in presale with dual audits, positioned as 2025 moonshot amid Ethereum staking unlock-driven altcoin rotation. - Market shifts highlight Arbitrum's TVL growth and MAGACOIN's
Trending news
MoreCrypto prices
More
