Pump.Fun's Pump Cryptocurrency public token sales raised $500 million after selling out quickly in about 12 minutes.
Pump token sales sell out, raising $500 million for platform expansion
Initial Coin Offering (ICO) – A new way to crowdfund your digital tokens – was released at 2pm on July 12th. Solana's leading meme coin creation platform, Pump.Fun, has provided 125 billion pump tokens for $0.004 each. These tokens represent 12.5% of the total supply of $1 trillion.
Pump.Fun's platform essentially allows users to create and trade meme-inspired cryptocurrencies. Pump tokens fund ecosystem incentives such as platform upgrades, social trading capabilities, and fee rebates. Sales came amid a surge in interest in meme coins, with assets like Doge, Trump and Pepe Rallying being launched this week.
The $500 million salary increases follow previous private sales, when 18% of the tokens were sold to institutional investors. Together, Pump.Fun has secured more than $1 billion in trade. Token allocations include 24% of community initiatives, 20% for teams and 13% of existing investors.
Major exchanges, including Bybit, Kraken and Pump.fun's own platform, hosted the ICO. Investors in the US and UK are said to be banned due to regulations and focused on Asian and European markets. Individual caps reached $1 million per buyer.
Derivatives before trading on platforms like high lipids show a 40% premium over ICO prices, indicating intense demand. All tokens reportedly will be unlocked immediately upon release and are expected to trade by July 18th.
Pump.Fun uses revenue to enhance the platform after getting wallet tracker Kolscan. Analysts focus on risks, including memecoin volatility and regulatory challenges, while sellouts highlight important market desires.
