PUMP (Pump.fun) rose 2.52% in the last 24 hours.

Gate News Bot news, on July 31, according to CoinMarketCap data, PUMP (Pump.fun) is currently priced at $0.00285017, having risen 2.52% in the last 24 hours, with a maximum of $0.00324866 and a minimum of $0.00228227. The 24-hour volume reached $470 million. The current market capitalization is approximately $1.009 billion, an increase of $24.8 million compared to yesterday.

Pump.fun is a platform that allows anyone to create tokens. All tokens created on this platform adopt a fair issuance model, meaning that everyone has an equal opportunity to buy and sell when the tokens are first created. Users can select their preferred tokens, purchase them on the binding curve, and can sell anytime to lock in profits or losses.

PUMP Recent Important News:

1️⃣ The project party increases the token buyback力度

Pump.fun transferred 12,000 SOL (approximately $2.16 million) to the repurchase execution address for the continued repurchase of PUMP tokens. Previously, the project team had used approximately $21.5 million to purchase 3.828 billion PUMP, with an average repurchase price of $0.0056. At the same time, the project team committed to using 100% of daily income for repurchases, demonstrating confidence and support for the token's value.

2️⃣ Large institutional investors completed their liquidation.

A large institutional investor participating in the PUMP private placement recently completed the liquidation of all holdings. This investor initially invested 100 million USDC to acquire 25 billion PUMP, and has now sold all of it, making a total profit of 8.2 million dollars. This large-scale sell-off may put short-term supply pressure on the market.

3️⃣ The platform's trading activity has decreased.

Recent data shows that the number of "graduation" tokens on the Pump.fun platform has significantly decreased, with its share in the Launchpad ecosystem dropping to 7.1%. At the same time, the platform's 24-hour revenue and trading volume have been surpassed by the competitor Letsbonk by more than four times, challenging its market share. This indicates a decline in platform activity, which may affect the demand for PUMP tokens.

From a technical perspective, although the PUMP price has rebounded, it is still near recent lows. The project's continuous buyback may provide some support for the price, but institutional investors' liquidation and the decline in platform activity may bring some selling pressure. Investors should closely monitor the project's subsequent developments and market reactions.

This message is not investment advice; investors should be aware of market volatility risks.