After being suspended for 24 hours on the X platform backed by Elon Musk, the account of Pump.fun – a memecoin issuance platform based on the Solana (SOL) blockchain – and its founder have been restored. The suspension of several cryptocurrency-related accounts on X on the second day caused a wave of speculation within the crypto community.
The regulators of this platform did not disclose the specific reason for the account closure, but according to reports from TinTucBitcoin, the temporary suspension of Pump.fun within 24 hours may be related to misconduct, violating X's policies regarding the handling of invalid data or fraudulent behavior in the crypto sector.
Details about Pump.fun
Over the past year, Pump.fun has helped introduce hundreds of thousands of memecoins on the Solana blockchain, such as the transparent and fair Token issuance process. Although it has not achieved widespread popularity, this launchpad model has attracted a large number of users to participate and contribute to the development of the Solana ecosystem.
Notably, Pump.fun has generated nearly $1 billion in revenue, which is crucial for their upcoming $4 billion Token launch plan. The platform also expands its services to include a decentralized exchange (DEX), aiming to compete with other web3 protocols that provide memecoin services. The success of Pump.fun has propelled Solana's memecoin ecosystem to grow, currently reaching nearly $10 billion in total market capitalization and a 24-hour trading volume of approximately $2.6 billion. The restoration of the platform will contribute to the long-term development of Solana, especially in the context of awaiting approval for the spot SOL ETF in the United States.
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Source: https://tintucbitcoin.com/elon-musk-x-khoi-phuc-pump-fun-tai-khoan-sang-lap/
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