Pump.Fun has spent more than $ 62.6 million re -purchase of folk token, pumps, according to data from Dune Analytics. Buybacks are soaking over 16.5 billion tokens at an average cost of $ 0.003785, as the platform seems to stabilize price action and reduce sales pressure.
The purchase strategy uses the platform generated by the platform, mainly the fees collected from users who launch Memecoins, to make daily token re-purchases. Sun -day purchases continue to reach between $ 1.3 million and $ 2.3 million in the past week, Dune Analytics data Shut up.
Since launch, Pump.fun has generated more than $ 775 million in income, According to to data from defillama. Notably, the platform saw a sharp fall of revenue from July 28 to August 3. Lowest since March 2024.
Meanwhile, the buyback initiative appears to be working. The pump gained more than 12% in the last month and around 9% last week. The token is currently trading at $ 0.003522, up to 54% from August low to $ 0.002282.
Related: How raised the pump.fun $ 500m to 12 minutes, and what does it say about retail fomo
The pump holder count is leading to 70,000
Onchain data also shows a healthy upbringing of user participation. The number of unique pump holders continues to grow to more than 70,800, with smaller purses (<10k pumps) that now cost 46% of the distribution. Expansion of hand -owner indicates a growing retail relationship.
Growth is coming as the pump.fun platform has recently struggled to maintain its dominance in the rankings of the Solana Memecoin launchpad. On July 7, a newly launched Solana’s platform called Letsbonk Took the top area for 24 -hour incomeExcessive pump.fun.
According to Solana Decentralized exchange (Dex) The aggregator Jupiter, the dominance of Letsbonk continued throughout Julyhaving more shares in the market than the pump.fun on many occasions.
However, Jupiter’s data suggests The pump.fun is that the No. 1 place. In the last seven days, the platform has a 73% market sharing and recorded $ 4.5 billion in trading volume. In contrast, the shares of the Letsbonk market dropped to less than 9%, with $ 543 million in volume.
Related: Pump.Fun private sale investors send more than $ 160m to exchanges
Pump.Fun hit by $ 5.5 billion suits
As the pump.fun continues to get traction, it faces severe legal pressure. A lawsuit filed on January 30 accused the platform of With the tactics “Guerrilla Marketing” To produce artificial hype and rush around the fullest -changing tokens.
The case was amended on July 23with the plaintiff describing the pump.fun as an “unlicensed casino.” The updated filing compares the platform structure to a “rigged slot machine,” claiming that the first participants would earn by offloading tokens to the last incoming. The suit expresses total investor losses to $ 5.5 billion.
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