Pumpfun Shocks Market With $19.2M Buyback , $PUMP Fires Back Up
2025-07-16 08:30:56
Main Idea
Pumpfun executed a $19.2M buyback of its $PUMP tokens using protocol fee revenue, marking a significant shift from its previous strategy of selling fee revenue on Kraken.
Key Points
1. Pumpfun deployed 187,770 $SOL (~$30.53M) from fee wallets to a new address for buyback purposes, spending 118,350 $SOL (~$19.2M) to purchase 3.196B $PUMP.
2. Prior to this, Pumpfun had been aggressively selling fee revenue on Kraken, offloading ~4.1M $SOL ($741M) since May 2024.
3. The $PUMP token recently raised over $500M in a 12-minute presale at $0.004 and is now trading at $0.0064, up 60% from the presale price.
4. The buyback signals a strategic shift, with the team now actively supporting the token's value, and there is still $11.3M worth of $SOL remaining in the buyback wallet.
5. The move has shifted market sentiment, with $PUMP showing bullish momentum and heavy trading volume on-chain and across exchanges.
Description
Pumpfun (@pumpdotfun) just dropped a bomb on the market—$19.2M buyback live and counting. Eight hours ago, the team deployed a surprise open-market buyback using protocol fee revenue. 187,770 $SOL (~$30.53M) was moved from their fee wallets to a fresh address, 3vkpy5, now confirmed to be a buyback wallet. So far, 118,350 $SOL (~$19.2M) has been spent to purchase 3.196B $PUMP at an average price of ~$0.006. Pumpfun ( @pumpdotfun ) has bought back 3.196B $PUMP ($19.2M)! 8 hours ago, they launched ...
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