Pump.Fun, Meme Coin Launchpad of the Solana blockchain, has completed its public token sales in just 12 minutes and achieved a major milestone by raising $500 million.
The record-breaking event was confirmed in X’s July 12th post. There, the team thanked the community and announced that the tokens are currently in the distribution phase.
Pump.Fun tokens are 40% after pre-sale
At the token sale, 12.5% of the total supply of 1 trillion pump tokens was sold at a fixed price of $0.004.
Sales were made on multiple exchanges, but were not available to participants in the US or UK.
“The tokens are initially unable to be transformed and cannot be moved while the distribution phase is running. Once the distribution phase is complete, the tokens become tradeable and transferable. An announcement will be made upon completion,” the project team said.
Despite these restrictions, the demand for tokens was overwhelming and attracted a lot of attention from large crypto investors.
On-chain data from blockchain analytics platform LookonChain revealed that the well-known crypto whales were immediately taking part in the sale.
One such investor, identified by the handle “FF.SOL,” had previously shown significant profits, which turned the $1.19 million bet on Trump Meme Coin to a peak value of $438 million.
The investor moved 1 million USDC to a new wallet and took part in the pump’s preselle.
On the other hand, early signs indicate that the token’s value continues.
Pump tokens have seen positive market reactions after sales.
The latest data shows a $0.005609 pump deal on the high lipid platform, up 40% from the initial selling price.
Additionally, trading volumes skyrocketed above $443 million, with open interest at $317 million.
Meanwhile, Pump.Fun’s success has surpassed token sales with the first acquisition of wallet tracking analytics platform Kolscan.
Financial terms for the acquisition have not been revealed
This strategic acquisition will enhance Pump.Fun’s social trading tools and provide detailed insights into real-time trading, profit and loss trends, and wallet activities of leading traders.
Alon Cohen, co-founder of Pump.Fun, emphasized that the acquisition will increase the reliability and speed of trade data.
It also ensures that leaderboard rankings reflect actual trading activities rather than simply influencer-based metrics.
The post pump, Huntoken, sold out in 12 minutes as the Whale Flood Solana Launchpad first appeared on Beincrypto.
