On July 8, 2025

gate revealed the sales page for pump.fun, but soon retracted it. If we calculate based on this valuation, it's really infuriating. Many are somewhat familiar with pump.fun; it drove the last meme wave on sol and is a new coin issuance platform, indeed an excellent project. However, during the last meme wave, the project team kept selling sol and made a fortune.

But now, not only has the meme enthusiasm drastically decreased, but pump's reckless coin-selling behavior has also caused resentment in the crypto community, with recent sales data being surpassed by bonk. In the crypto world, if a project doesn't airdrop and give back to loyal users, it goes against the original intention of entrepreneurship in the crypto sphere. To be honest, we can’t do much about this, but if we calculate based on gate's sales page, pump's valuation reaches a staggering 4 billion USD.

This is simply ridiculous; in my view, a token issuance platform does not have strong sustainability and belongs to a field with a relatively low moat. If it launches at such a high valuation, it essentially treats secondary market users like fools. Besides this, there’s the upcoming WLFI, which, based on the current off-market prices, also has an absurd valuation. I once again urge everyone not to invest in these highly valued new coins, as the probability of getting stuck is very high.

In terms of market conditions, there is currently no improvement; we are still waiting for Bitcoin to consolidate before breaking out. At this point, the most worthy of attention are the older coins, such as established DeFi projects, which are much safer compared to these new hot projects. Of course, holdings should still mainly consist of Bitcoin, Ethereum, BNB, and other safer assets, waiting for the market to pick up.

Thank you for your attention and likes.