Pump.fun is actively preparing for its initial coin offering (ICO) with the announcement of its acquisition of the Solana-based wallet tracker Kolscan. This new feature aims to enhance user experience and provide traders with new analytical tools.
Kolscan Integration and New Features
Pump.fun has announced the acquisition of Kolscan, a wallet tracker that aggregates data on key opinion leaders (KOLs) based on their trading performance. This will allow users to analyze the strategies of leading investors within the Solana network. Co-founder Alon Cohen emphasized that the integration will create better products and enhance the overall ecosystem experience.
Upcoming ICO and $PUMP Token
Pump.fun plans to conduct a $600 million ICO, with a launch scheduled for July 12. About 33% of the total supply of 3 trillion tokens will be available in this offering. Participants will be able to purchase 15% of the $PUMP tokens at a price of $0.004 per token, allowing the platform to achieve a valuation of $4 billion.
Market Competition and Solana's Growth
Pump.fun faces increased competition from other tokens. Recently, the platform lost its lead to competitor LetsBonk, with its market share dropping below 60%. Meanwhile, Solana has been showing growth, trading above $167 after several months of decline.
Pump.fun is taking substantial steps to strengthen its market position through the integration of Kolscan and preparation for the ICO. This may open new opportunities for trading and analysis within the Solana network, despite rising competition.
