Coinbase, a major US cryptocurrency exchange, just listed the Solana-based memecoin platform, Pump.fun (PUMP), giving the token a significant boost.
PUMP Takes Off on Coinbase
The announcement means users can now buy, sell, and trade PUMP directly through the Coinbase website and mobile apps. Coinbase has labeled PUMP as “experimental,” a common designation for newer cryptocurrencies.
What is Pump.fun?
Pump.fun lets users create and trade their own memecoins without needing any coding skills. Since launching in 2024, the platform boasts over 11 million tokens created and $700 million in revenue. The platform’s model rewards early adopters of new coins, and these coins can eventually graduate to trading on decentralized exchanges (DEXs) after meeting certain milestones.
A Speedy ICO
Pump.fun recently completed a remarkably fast Initial Coin Offering (ICO). The entire sale sold out in just 12 minutes! The tokens will be distributed within 48 to 72 hours of the sale’s conclusion, after which they become fully tradable.
Token Distribution
The ICO sold 33% of PUMP’s total supply (1 trillion tokens). The remaining tokens were allocated to the community, team, investors, and various ecosystem initiatives.
Price Surge
Following the Coinbase listing, PUMP’s price jumped, currently trading at $0.00568, a 4.5% increase in the last 24 hours.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto carries significant risk./p>