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Pump.fun’s PUMP token is trading at a 40% premium over its initial coin offering price on derivatives exchanges, days before the token officially launches. Pre-market and perpetual futures trading have pushed the token’s value higher, even before its release on-chain, data from Coindesk suggests.
Key Details:
- PUMP is priced at $0.0056 on Hyperliquid, compared to its $0.004 ICO rate.
- More than $30 million in volume was recorded in the first 24 hours of futures trading.
- Open interest surpassed $17 million as of July 10.
- OKX enabled pre-market futures trading at 4 a.m. UTC on July 11.
PUMP-USD perpetual pair was launched on Hyperliquid on July 9, allowing up to 3x leverage. The listing generated significant speculative activity despite the token not yet being live on-chain.
- Futures contracts have a face value of 1,000 PUMP and quote prices in USDT.
- Leverage on OKX pre-market futures ranges from 0.01x to 5x.
- Trading is available 24/7 across both platforms.
Pump.fun plans to distribute 33% of its 1 trillion total token supply. Of that allocation, 18% was sold privately, and 15% is reserved for the public sale on July 12. All tokens will be fully unlocked at launch.
- Private and public sale prices are set at $0.004 per token.
- The platform claims to have earned more than $600 million in revenue since 2024.
- Revenue mainly comes from fees on meme coin launches tied to the Solana blockchain.
Pump.fun is promoting the PUMP token as a tool for building a decentralized social platform. The project aims to reward users financially, contrasting with conventional engagement models used by TikTok, Twitch, and Facebook.
What is Pump.fun?
Pump.fun is a platform that enables the creation and trading of tokens with minimal friction. It is known for facilitating meme coin launches and has become a key player in Solana’s low-cost token ecosystem.
The platform is not without its controversy, as Pump Fun was blamed for the supposed lack of “altseason” in the current cycle.
This article is published on BitPinas: Traders Push PUMP Token Up 40% Ahead of ICO
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