#pump #speculation
$PUMP Token Sale: Hype, Speed, and My Doubts šš°
According to Arkham, the $PUMP sale ended in a matter of seconds ā 189 accounts contributed $1 million each, raising $189 million! š± But, according to the latest data, in total, Pump.fun raised $500 million in 12 minutes, selling 125 billion tokens at $0.004 each with an FDV of $4 billion. This is a crazy hype, but I decided to pass it by. Why? Here are my reasons:
1. Liquidation of $M depot: After the failure with $M, my balances did not allow me to enter an amount that would give a tangible profit. The risk outweighed the potential benefit.
2. Difficulty with āsizeā: Entering a normal amount in such a fast sale is not an easy task. The competition was fierce, and access was limited.
3. Questionable metrics: $4 billion FDV looks inflated, and the hype surrounding the sale raises questions. Pump.fun, despite generating $700 million in revenue in 2024, has problems: 60% of addresses are in the red, and the platformās activity has fallen by 75% since its peak in January 2025.
Add to this the criticism: 98% of tokens on Pump.fun show signs of fraud or ārag poolsā. The platform makes money on commissions, but most traders lose. Plus, the emergence of competitor LetsBonk.fun, which is already overtaking Pump.fun in daily revenue (~$1 million), makes you think about the long-term prospects.
Will $PUMP live up to expectations? On Hyperliquid, the token is already trading 40% higher than the ICO ($0.0056), but this is more speculation than fundamental value. I stayed away, but itās interesting to hear: who managed to get in?