Pump.fun Reportedly Plans $1 Billion Token Sale
Solana-based platform Pump.fun is reportedly planning a token sale aiming to raise $1 billion, according to a Blockworks report. The sale is expected to value the token at $4 billion.
Token Launch Imminent
The token launch, which will be available to both public and private investors, is anticipated to occur within the next two weeks. Sources familiar with the matter suggest that Pump.fun is preparing for a substantial initial coin offering (ICO).
As of now, there has been no official confirmation from Pump.fun regarding the token sale. Details such as the token name, ticker symbol, and exact launch date remain undisclosed.
Key Takeaways:
- Pump.fun aims to raise $1 billion through a token sale.
- The token valuation is projected at $4 billion.
- The launch is expected in approximately two weeks.
Becoming a Crypto Unicorn
Blockworks notes that a $4 billion valuation would position Pump.fun as a leading “crypto unicorn,” following its significant role in the meme coin surge of the past year. The platform facilitated the creation of numerous tokens within a short period, driving substantial activity in the meme coin market.
“The potential $4 billion valuation of the token would establish Pump.fun as the latest ‘startup unicorn’ of cryptocurrencies.”
Revenue and Market Impact
Since its launch last year, Pump.fun has generated $622 million in total revenue, according to data from Dune Analytics. While revenue declined following a decrease in meme coin demand in February, the platform has since implemented strategies to maintain revenue streams.
In March, Pump.fun launched its own decentralized exchange (DEX), PumpSwap, to support the trading of meme coins and other Solana-based tokens, thereby ending its reliance on Raydium.
Meme Coin Market Reaction
Following the announcement, the Solana meme coin category experienced a slight downturn, with major tokens like Official Trump (TRUMP), BONK, Fartcoin, and Pudgy Penguins (PENGU) seeing declines in the last 24 hours. Dogwifhat (WIF) was the only top 5 Solana meme token to show positive returns, gaining 3%.
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