Solana’s Pump.fun Nets $500M as PUMP Token ICO Sells out in 12 Minutes
Main Idea
Pump.fun's PUMP token ICO on Solana raised $500 million in 12 minutes, with proceeds aimed at platform expansion and meme coin development.
Key Points
1. The PUMP token ICO sold 125 billion tokens at $0.004 each, representing 12.5% of the total supply.
2. The $500 million raise follows an earlier private sale, bringing total funding to over $1 billion.
3. Token allocation includes 24% for community initiatives, 20% for the team, and 13% for existing investors.
4. Major exchanges like Bybit and Kraken hosted the ICO, with individual caps set at $1 million per buyer.
5. Pre-sale derivatives trading showed a 40% premium over the ICO price, indicating high demand.
Description
Pump.fun’s public token sale for its PUMP cryptocurrency raised $500 million after selling out rapidly in roughly 12 minutes. PUMP Token Sale Sells out, Raising $500 Million for Platform Expansion The initial coin offering (ICO) — a crowdfunding method for new digital tokens — launched July 12 at 2 p.m. UTC. Pump.fun, a leading meme
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