TL;DR
- PUMP token surged 21.16% in the last 24 hours, reaching a price of $0.005712, fueled by its recent listing on Binance.US and major platform upgrades.
- Pump.fun’s token launchpad clawed back market share from rival LetsBonk while implementing buybacks totaling over $99 million.
- Daily revenue has rebounded to $1.5–$2.3 million, reinforcing PUMP’s position as the 55th largest cryptocurrency by market capitalization with a market cap of $2.02 billion.
PUMP, the native token of memecoin platform Pump.fun, has experienced a striking rally, climbing 21.16% in the past 24 hours to $0.005712, according to CoinMarketCap. Its market capitalization now sits at $2.02 billion, with daily trading volume surpassing $393 million, marking a 93% increase.
This recent growth puts PUMP within striking distance of its July debut price of $0.0055, outperforming its initial coin offering of $0.004. The token’s momentum has attracted renewed attention from retail and institutional investors alike, signaling growing confidence in Pump.fun’s ecosystem.
Binance.US Listing And Platform Upgrades Drive Growth
The surge follows PUMP’s listing on Binance.US, coupled with several updates to Pump.fun’s token launchpad. Enhancements include an improved user interface, an exclusive Bubblemaps integration, and a partnership with crypto exchange MEXC, which will list a Pump.fun token every Monday.
The first featured token was Trencher Broadcasting Company. These strategic moves have strengthened Pump.fun’s market position, enabling it to regain ground lost to rival LetsBonk in the previous month. Investors are now closely monitoring upcoming token launches for additional upside opportunities.
Buyback Programs And Revenue Boosts Reinforce Token Value
Pump.fun continues to support PUMP through extensive buybacks funded entirely by protocol revenue. The platform repurchased 11,785 SOL ($2.5 million) on Tuesday, exceeding 100% of daily revenue. To date, Pump.fun has bought back $99.2 million worth of its token. Daily revenue has rebounded, reaching highs of $2.28 million in late August and $1.5 million on Tuesday, which is then funneled back into PUMP, reinforcing the token’s upward momentum.
Despite the overall rise of PUMP, its ecosystem tokens remained mostly flat on the day. Individual performances varied, with notable gains like HYPER at 25% and declines such as SPARK, down 12%.
Over the past two weeks, PUMP has climbed 81.5%, solidifying its position as the 55th largest cryptocurrency, ahead of BONK from the competing LetsBonk platform. Market watchers are also debating the likelihood of a PUMP airdrop. Prediction platform Myriad suggests an 84% chance that no airdrop will occur by the end of September.
