• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

PUMP Drops Below Private Sale Price: Market Faces Pressure

user avatar

by Giorgi Kostiuk

7 hours ago


Cryptocurrency prices continue to fluctuate, with recent data indicating a decline in PUMP tokens below their private sale levels. Meanwhile, South Korean exchanges are actively adding new tokens, which also affects the market.

Decline of PUMP Price

According to Spot On Chain, PUMP's price has dropped below its private sale level of $0.004. Among the 10,145 investors who participated in the private sale:

* 12.7% still hold their tokens, * 31.6% have sold on decentralized exchanges (DEXs), * 2.7% increased their holdings, * 53% transferred tokens to new wallets.

The analysis shows that the decline of PUMP below its $0.004 private sale level reflects heavy selling pressure and weakening investor confidence. Despite raising $500M rapidly during its ICO, the immediate unlock of 33% of tokens triggered fast profit-taking, undermining price support.

New Tokens on South Korean Exchanges

According to Pulse News, South Korea's top five crypto exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax — have listed 229 new cryptocurrencies this year, accounting for 85.44% of the total 268 new listings for 2024. Both Upbit (37 tokens) and Bithumb (84 tokens) have already surpassed their full-year 2023 listing counts.

This growth in new token listings reflects continued retail enthusiasm in the South Korean cryptocurrency market. However, the surge in new listings may increase market volatility and complicate the identification of quality projects.

PENGU Token Transfers

In the past 24 hours, 226.6 million PENGU tokens ($9.05M) were transferred from the deployer address to centralized exchanges. Since July 12, a total of 1.81 billion PENGU tokens ($54.61M) have been moved to CEXs from the deployer wallet.

The continuous transfers of PENGU tokens from the deployer address to exchanges suggest the team may be preparing to boost market liquidity or announce new partnerships. However, large inflows to exchanges often trigger sell-off concerns, thus putting short-term pressure on the price.

Under current conditions, the cryptocurrency market shows signs of high volatility. The decline of PUMP and the increase in new tokens on South Korean exchanges indicate varied investment sentiments that could influence further price dynamics.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

BitMine Announces Strategy to Acquire 5% Ethereum

chest

BitMine has announced plans to acquire 5% of Ethereum to strengthen the ETH ecosystem.

user avatarGiorgi Kostiuk

Edge One Capital Proposes Digital Asset Strategy for BuzzFeed

chest

Edge One Capital presented proposals for BuzzFeed's digital asset strategy, emphasizing the need for changes within the company.

user avatarGiorgi Kostiuk

Polymarket Considers Creation of a Stablecoin Amid Market Trends

chest

An analysis of the potential launch of Polymarket's stablecoin, including market rumors and official comments.

user avatarGiorgi Kostiuk

MicroStrategy's New Strategy and Perpetual Stock IPO

chest

MicroStrategy plans to raise additional funds for Bitcoin purchases through the IPO of a new type of stock.

user avatarGiorgi Kostiuk

Upexi's Investment in Solana: Insights and Predictions

chest

Upexi boosts its Solana token investments to $331 million amid rising interest in cryptocurrencies.

user avatarGiorgi Kostiuk

Summary of Vanadi Coffee's Bitcoin Strategy: 76 BTC in Reserves

chest

Vanadi Coffee has acquired two additional BTC, raising its reserves to 76 BTC despite financial losses.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.