60% of PUMP presale participants sold or transferred to CEXs
2025-07-17 11:54:49
Main Idea
Nearly 60% of PUMP token presale participants sold or transferred their holdings to centralized exchanges, while the token's price dropped nearly 20% from its peak despite initially trading 40% above presale price.
Key Points
1. 59.6% of PUMP presale participants (6,042 wallets) sold or transferred tokens to CEXs, while 37.4% held and 3% increased holdings.
2. PUMP token reached an all-time high of $0.006812 but later dropped 19.1% to $0.005468.
3. BitMEX noted the token debuted 40% above its presale price and maintained positive funding rates despite typical conditions favoring negative rates.
4. Pump.fun's trading volumes declined from $11.6 billion in January to $3.65 billion in June, raising concerns about justifying current valuation.
5. A new competitor, LetsBonk, is emerging, potentially challenging Pump.fun's dominance on Solana.
Description
BitMEX said the PUMP token defied the odds, with its funding rates trending positively despite a large initial float.
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