Pump.fun’s new PUMP token began public trading today. The token launched at a price of $0.0062, over 50% higher than its public sale two days ago. Despite skepticism and setbacks, the launch has proven notably successful.
So far, around 55% of PUMP trading is on decentralized exchanges, including Pumpswap, Raydium, and Meteora. Bybit and KuCoin represent the majority of PUMP’s CEX trade volume.
PUMP Is Now Available for Trading
Pump.fun, the most popular meme coin launchpad, has built a lot of hype with its new PUMP token. After some confusion regarding the launch announcement, the presale took place on July 12, selling out in 12 minutes.
Today, PUMP trading is now open to the public, allowing retail investors to participate:
As far as token launches go, Pump.fun has created a huge hit with PUMP.
According to data from GMGN, PUMP started trading at $0.0061301, giving it a fully diluted valuation (FDV) of $6.13 billion. This is impressive compared to its public sale price of $0.004, representing an increase of approximately 53.25%.
Naturally, the token’s price fluctuated throughout the day thanks to retail investors’ profit-seeking. After Pump.fun announced public trading, PUMP soared dramatically, but quickly fell back down.
Still, its current price is higher than its presale valuation, which seems like an encouraging sign.
Currently, around 55% of trading volume is on decentralized exchanges, with only Bybit and KuCoin representing CEXs. Pump.fun’s own Pumpswap platform represents around 20% of PUMP trading activity, and Raydium and Meteora make up most of the remaining DEX volume.
All things considered, Pump.fun did quite well with the PUMP launch. The presale faced several key setbacks in addition to the announcement mixup: The platform lost its market dominance, the community criticized the presale, and many whales bet against the token.
Nonetheless, PUMP had a good showing, demonstrating high enthusiasm. While Binance is yet to list the token on its spot market, PUMP is available on Binance Futures.
The post PUMP Token Begins Trading With a 50% Jump From Public Sale Price appeared first on BeInCrypto.
