PUMP debuts at $5.6B FDV, logs $34M volume within first 3 hours

Pump.fun’s PUMP token opened astatine a afloat diluted valuation (FDV) of astir $5.6 cardinal connected July 14 and fell 7.3% wrong the archetypal 3 hours of trading, according to DEX Screener data. 

The Solana-based coin changed hands astatine astir $0.005128 astatine 20:30 UTC, implying a existent FDV of astir $5.12 billion, liquidity of $19.3 million, and 11,160 on-chain transactions worthy $34.1 cardinal logged during the period.

Buy enactment somewhat outpaced sales, with 6,210 purchases versus 4,950 sales, portion the divided successful dollar presumption ran astir adjacent astatine $18.7 cardinal and $19.1 million, respectively.

Record-setting merchantability fills warfare chest

The token’s debut followed a 12-minute nationalist merchantability connected July 12 that raised $500 million and distributed 125 cardinal PUMP.

The sale-priced tokens astatine $0.004 were exhausted connected Pump.fun’s website and 4 centralized exchanges, marking 1 of the fastest superior raises successful ICO history.

On-chain dashboards compiled by Dune amusement that 23,959 wallets person completed the mandatory Know Your Customer procedures, but lone 42.3% person secured tokens. 

The mean walk reached $44,209, portion the median landed adjacent $550, illustrating a skew toward whale participation, adjacent arsenic tiny holders dominated numerically. Exactly 202 wallets deed the $1 cardinal hard cap, portion 5,758 spent little than $1,000.

Pump.fun’s own breakdown assigns 33% of proviso to the ICO, 24% to assemblage and ecosystem initiatives, 20% to the founding team, 13% to existing investors, 3% to a livestreaming budget, 2.6% to liquidity and speech incentives, 2.4% to an ecosystem fund, and 2% to a nonprofit foundation. 

Furthermore, website analytics bespeak that 76% of the tokens were sold done Pump.fun’s portal, with the equilibrium handled by spouse exchanges. The squad said this attack strengthens nonstop ties to users and limits middleman influence. 

Developers required individuality checks for each participants and excluded residents from the US and UK, positioning the rise arsenic a “compliant” alternate to earlier memecoin launches, according to statements posted connected societal media by Dune contributor Adam Tehc.

The station PUMP debuts astatine $5.6B FDV, logs $34M measurement wrong archetypal 3 hours appeared archetypal connected CryptoSlate.