$500M Raised by Pump.fun in Public Sale, Pushing Valuation to $4 Billion

Pump.fun’s latest token sale set off fireworks on Friday, pulling in a remarkable $500 million from eager retail investors in a lightning-fast 12-minute window across platforms like Bybit, Kraken, and KuCoin.

The public sale saw all 125 billion tokens snapped up at a price of $0.004 each, valuing the Solana-based memecoin launchpad’s new utility token at a fully diluted market cap of $4 billion.

Despite the frenzy, buyers will need to wait a little longer before they can trade or move their tokens. Pump.fun announced that distribution to user wallets will happen over the next 48 to 72 hours, during which time the tokens will remain locked to prevent early transfers or trading.

To avoid scams, the team provided the official Solana contract address—pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn—and cautioned users to steer clear of counterfeit tokens or imitations.

The public sale represented 12.5% of PUMP’s total supply of one trillion tokens, slightly lower than the previously planned 15% allocation. Another 18% had already been distributed in a private sale.

The token’s overall distribution is as follows: 20% for the team, 24% reserved for community and ecosystem incentives, 13% for existing investors, 2.6% allocated for liquidity, 2.4% for the ecosystem fund, and the rest earmarked for the foundation fund and live streaming incentives.

Pump.fun has gained popularity as a launchpad that makes it easy for users to mint and list new tokens, with automatic listings on decentralized exchanges once certain trading criteria are met.

However, the platform has faced declining activity in recent months. Data from DeFiLlama shows launchpad volume dropping from over $11.6 billion in January to just $3.65 billion in June. Revenue followed a similar trend, falling from $133 million in January to $34 million last month.

Nevertheless, Pump.fun’s decentralized exchange, PumpSwap, launched in March, has provided a boost. PumpSwap recorded $14.3 billion in trading volume in May and another $10 billion in June, generating revenues of $7 million and $5 million, respectively, according to DeFiLlama.