PUMP Token Shows Positive Funding Rates Despite Price Drop and High Initial Float, BitMEX Suggests Possible Market Confidence

Key Points

1. PUMP token's price surged post-presale but dropped nearly 20% within 24 hours, yet maintained positive funding rates indicating market confidence.

2. 59.6% of presale participants sold their tokens, 37.4% held, and 3% showed mixed sentiment, reflecting a balance between profit-taking and long-term holding.

3. Pump.fun's trading volumes declined from $11.6 billion in January to $3.65 billion in June, posing risks to PUMP's long-term momentum.

4. New competitors like LetsBonk are emerging, challenging Pump.fun's dominance and potentially impacting PUMP's funding rates.

5. The PUMP presale raised $500 million in 12 hours, marking a significant event in 2025, highlighting strong initial interest despite subsequent sell-offs.