Pump.fun ICO raises record $500 million in 12 minutes as whales go big
2025-07-12 16:44:29
Main Idea
Pump.fun, a Solana-based meme coin platform, conducted a highly successful ICO, raising $500 million in 12 minutes, signaling a shift from meme culture to broader applications.
Key Points
1. Pump.fun raised $500 million in 12 minutes by selling 125 billion tokens at $0.004 each, falling short of its $600 million target.
2. The ICO excluded U.S. participants and required full KYC compliance, offering 33% of PUMP’s total supply with no lock-up period.
3. Pump.fun aims to expand beyond meme coins, acquiring Kolscan, a Solana wallet tracker, to enhance its platform capabilities.
4. Whales showed mixed sentiment: three major wallets deposited $7 million USDC into Hyperliquid to long PUMP, while another whale shorted PUMP with $8 million USDC at 2x leverage.
5. The platform gained prominence in 2024 as a leading Solana-based meme coin creator, with the ICO reflecting strong market interest despite regulatory exclusions.
Description
Solana ( SOL )-based meme coin platform Pump.fun (PUMP) has registered one of the fastest and largest ICOs in the cryptocurrency market , selling 125 billion PUMP tokens. On-chain data shows the public token sale raised $500 million in just 12 minutes, with each token priced at $0.004. The company had aimed to raise $600 million from the offering. Pump.fun token sale. Source: Pump.fun The sale, which excluded U.S. participants and required full KYC compliance, offered 33% of PUMP’s total supply ...
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