Pump.fun has once again captured attention in the cryptocurrency world, raising $500 million in just 12 minutes during its ICO. Despite impressive figures, there are many questions about the platform's legitimacy and sustainability.
The Financial Triumph of Pump.fun: Golden Masks and Hidden Risks
In a remarkable **12 minutes**, Pump.fun raised **$500 million** during its ICO. The **PUMP token** was offered at $0.004, with **125 billion units** sold. The memecoin creation platform on Solana took the opportunity to announce that it had raised a total of **$1 billion**, including private sales to institutional investors.
Is Every Pre-Sale a Scam?
However, there are significant issues. According to CCN, **Pump.fun's revenue has dropped by 92%** since January. Daily token launches fell from 1,100 to 69. Despite this decline, the diluted valuation exceeds $4 billion, raising eyebrows among analysts. Jocy, founder of IOSG Ventures, remarked: "In a market where purchasing power is weak, such a valuation is unsustainable and contradicts fundamental logic."
Crypto or Chaos? Pump.fun and the Rug Pull Machine
The designation of Pump.fun as a memecoin platform is also questioned. According to Coinbase, **98.6% of all tokens launched on the platform are scams**. Furthermore, a single individual has reportedly produced **18,000 tokens**, consistently generated through automation. This raises concerns about how the platform can be perceived as a safe option for investors.
Ultimately, despite impressive financial performance, Pump.fun faces serious criticism and doubts regarding its legitimacy. Once a proponent of anti-pre-sale ideals, the platform now finds itself at the center of controversies and distrust, jeopardizing the future of some aspects of the cryptocurrency ecosystem.
