Pump.fun, a platform allowing users to create pieces even, managed to collect $ 600 million in just 12 minutes on Saturday.
The main dishes to remember:
- Pump.fun raised $ 600 million in just 12 minutes, marking one of the largest ICOs to date.
- A block of 180 billion tokens was sold to private investors before the public sale.
- The rapid growth of the platform highlights a renewed interest in the parts and the collection of ICO funds.
The fast fund collection effort ranks among the largest initial offers of parts (ICO) and arrived one day after Bitcoin, the largest cryptocurrency in the world, has reached a new summit of all time.
Operating on the Solana blockchain, Pump.fun announced on July 9 via X (formerly Twitter) its 150 billion tokens sales plan at $ 0.004 each.
180 billion tokens sold to private investors before the public sale
Before the public sale, a block of 180 billion tokens had already been sold at the same price to private investors.
Confirming Bloomberg News figures, the co-founder Alon Cohen said the total recorded was now $ 1.32 billion.
In particular, investors based in the United States and the United Kingdom have been prohibited from participating due to regulatory restrictions.
Despite certain initial concerns among cryptographic investors that this massive sale could overshadow the wider market of coins, the votes of the industry remain impermeable.
Zaheer Ebtikar, founder of Crypto Fund Split Capital, pointed out the extreme fluctuations in the feeling that characterize the sector.
“People go from Max Fear to Max Fomo very quickly,” he told Bloomberg, referring to the sudden rush of buyers wishing to participate in the sale.
The coins have cut a niche in the cryptographic space by mixing internet culture with finance.
Often linked to jokes, viral memes and celebrity mentions, they drew the attention of merchants and retail professionals.
Even former American president Donald Trump launched his own meter piece shortly before his second inauguration in January, highlighting the scope of the trend.
Since its beginnings in 2024, Pump.fun, founded by Cohen, Noah Tweedale and Dylan Kerler, has become a key player behind the recent increase in the activity of the same, in particular in Solana.
The platform has attracted billions of investments, generating nearly $ 800 million in revenues, the company spokesperson.
Its success reflects a wider renewal of the ICOS, a fundraising method which has a peak of around 3 billion dollars per month at the beginning of 2018 before regulatory repression and high -level scams reduced enthusiasm.
Pump.fun announced that his tokens will be negotiable between 48 and 72 hours after the conclusion of the sale.
Pump.fun acquires Kolscan
Last week, Pump.fun announced its acquisition of the Kolscan portfolio monitoring tool, aimed at revolutionizing trading on the channel.
Integration will merge Kolscan’s analyzes with Pump.Fun’s social trading features, improvement in transparency, portfolio monitoring and copy trafficking.
The co-founder Alon Cohen stressed that trading is a “social sport”, highlighting the importance of the community and the information shared in the conduct of success within the ecosystem.
As part of the agreement, all Kolscan services will be made free to users.
Pump.fun has already attracted tens of thousands of users and intends to build a social media-social media platform, taking advantage of Kolscan’s tools to develop its community and influence.
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