In fact, the Pump token issuance has already been delayed three times... just like Kanye's token issuance... everyone wants to launch at the best timing, but determining the best timing is quite mystical.
Currently, the actual situation is that there is indeed an institutional round (this has been going on for several days), and there are plans for an ICO, but it's uncertain when that will be.
As for the impact on the market, I am first quite curious whether the ICO can be fully subscribed...