🧨 Pump.fun Aims for $1B Raise with Native Token — Valuation Hits $4B
Pump.fun is getting ready to launch a new coin that they hope will raise $1 billion.
Insiders say that the coin will emerge with a value of $4 billion.
Since early 2024, the platform has made it possible to create about 11 million Solana-based coins.
Blockworks says that sources say Pump.fun, a platform that makes it easier to create Solana-based memecoins, is proposing a token sale that might bring in $1 billion.
It is said that both public and private investors would be able to buy the token.
Three persons who know about the situation indicated that the token's value is likely to surpass $4 billion. The corporation hasn't said for sure when the token would be available, but a recent post on social media said it may be available in the next two weeks.
Since it started in early 2024, Pump.fun has developed quickly. The platform was intended to help anybody quickly and for free create Solana tokens. It has already made over $700 million in total sales.
Blockworks Research says that the service has made around 11 million tokens, which adds up to a market valuation of almost $4.5 billion.
The platform's popularity has made it a major participant in the memecoin industry, which is changing. It has also changed its primary offerings in response to more competition.
The development of its own automated market maker (AMM) was a big move. This severed its unofficial connection with the decentralized exchange Raydium.
Pump.fun has also added a mobile app and brought back a live-streaming capability that was taken away for a short time because of worries about content monitoring. These changes show that the platform wants to improve user engagement and infrastructure before the upcoming token release.
If Pump.fun is worth $4 billion, it will be a new unicorn in the crypto world. This decision comes at a time when people are still interested in and investing in memecoins, especially in the Solana ecosystem.
