Pump.Fun’s new pump tokens have begun public trading today. The token will be released at a price of $0.0062, and is more than 50% more than its public sale. Two days ago. Despite skepticism and set-up, the release has proven to be particularly successful.
So far, around 55% of pump trading is decentralized exchanges, including Pumpswap, Raydium and Meteora. Bybit and Kucoin represent the majority of the CEX trade volume of the pump.
Pumps are now available for trading
The most popular Meme Coin Launchpad, Pump.Fun, has built a lot of hype with the new pump token. After confusion over the launch announcement, a pre-sale took place on July 12th and sold out in 12 minutes.
Today, pump trading is open to the public and is now available to retail investors.
As far as token releases go, Pump.Fun was a huge hit with Pump.
According to GMGN data, the pump began trading at $0.0061301 and gave it a full dilution rating (FDV) of $6.13 billion. This is impressive compared to the public sales price of $0.004, representing an increase of around 53.25%.
Naturally, token prices fluctuated throughout the day thanks to retail investors’ profits. After Pump.Fun announced public trade, the pump spiked dramatically, but fell shortly.
Still, the current price is higher than its previous sales rating, which seems to be a encouragement.
Pump price performance. Source: Coingecko
Currently, around 55% of trading volume is on decentralized exchanges, with only Bybit and Kucoin representing CEXS. Pump.Fun’s proprietary Pumpswap platform accounts for around 20% of pump trading activities, with Raydium and Meteora making up most of the remaining DEX volumes.
All in all, Pump.Fun went very well with the pump launch. Plesire faced several important setbacks in addition to the confusion of the announcement. The platform lost control of the market, the community criticised the pre-sale, and many whales bet on the tokens.
Nevertheless, the pump had a good show and showed high enthusiasm. Binance has not yet listed tokens in the spot market, but Pump is available on Binance Futures.
