The largest cryptocurrency exchange in the United States by trading volume is stirring up the memecoin market as it officially lists the native token of a prominent platform in the Solana (SOL) ecosystem.
According to the latest announcement from Coinbase, the altcoin pump.fun (PUMP) has been added to the exchange's digital asset portfolio.
"Pump.fun (PUMP) is now available on Coinbase.com as well as the Coinbase app on iOS and Android with a 'Beta' label. Coinbase users can log in to buy, sell, convert, send, receive, or store this asset."
Pump.fun quickly attracted attention by providing a simple platform where users can create and trade native memecoins without any programming skills. Since its launch in 2024, the platform claims to have issued over 11 million tokens and recorded impressive revenue of around $700 million.
Pump.fun aims to reward pioneering investors – those who buy new coins early. Furthermore, the platform opens up opportunities for eligible memecoins to 'graduate,' meaning they can be listed and traded on decentralized exchanges (DEX) after achieving significant development milestones.
Just last week, pump.fun set a record by completing one of the fastest token sales in history.
"The public sale of PUMP has officially closed. We are thrilled to announce that all tokens were sold out in just 12 minutes. A heartfelt thank you to the community for your enthusiastic support!"
The entire amount of PUMP tokens will be distributed through the official website pump.fun along with partner exchanges and will be transferred to buyers within 48 to 72 hours after the sale ends. These tokens will be available for trading and transfer immediately after the protocol confirms that the distribution process is complete.
In a previous announcement, the pump.fun platform disclosed the allocation structure of the total maximum supply of 1 trillion PUMP tokens, with a long-term development vision and community support as follows:
33% allocated for the initial coin offering (ICO)
24% allocated for the community and ecosystem development initiatives
20% awarded to the development team
13% belongs to existing investors
2.4% allocated to the ecosystem fund
2% allocated for the foundation fund
3% supporting livestream activities
2.6% used to increase liquidity and serve exchanges
Immediately after being listed on Coinbase, the price of PUMP recorded positive growth, reaching $0.0064, corresponding to a 13.6% increase in the past 24 hours (as of the time of writing).