PUMP, the new token from the prominent meme coin launchpad Pump.fun, has seen a significant rally, climbing over 20% in the past 10 hours following reports of a team-led buyback. This surge briefly propelled PUMP's market capitalization to $2.4 billion, allowing it to momentarily surpass BONK. However, BONK has since reclaimed its lead, according to CoinGecko data.
On-chain data from Lookonchain reveals that Pump.fun recently moved 187,770 Solana (SOL), valued at over $30 million, to a designated buyback address. From this amount, the team used 118,351 SOL to acquire nearly 3 billion PUMP tokens at an average price of $0.0064.
PUMP's launch on major crypto exchanges on Monday followed a successful Initial Coin Offering (ICO) over the weekend that raised $500 million. The token is now widely available for spot trading and deposits on a variety of exchanges, including Coinbase, Bybit, MEXC, Bitget, Gate, KuCoin, and Hyperliquid. Notably, Hyperliquid also offers up to 5x leverage on perpetual contracts for PUMP.
July 2025, Cryptoniteuae