Pump.fun has announced the launch of its new token, PUMP, which will take place on July 12 on Gate.io, attracting investor attention amidst discussions of Solana ETFs.
Launch of PUMP Token by Pump.fun
Pump.fun is preparing to launch its new token PUMP, which will be conducted in a public sale on Gate.io. The sale will start on July 12 and will last for 72 hours. A total of 150 billion tokens will be available at a price of 0.04 USDT each, potentially raising up to $6 billion if fully subscribed. The offering will account for 15% of the total supply of 1 trillion tokens.
Evaluation and Tokenomics Analysis
Pump.fun is targeting a valuation of $4 billion for the project. The team is considering the inclusion of a revenue-sharing mechanism for token holders, which has become popular among new projects. Despite a recent decline in daily revenue to $1 million, the project remains one of the top-performing decentralized applications in the crypto space.
Prospects for Solana ETF Approval
While Pump.fun is preparing for the token launch, the SEC may accelerate its approval process for Solana ETFs. The Commission has requested issuers to make amendments to their filings by the end of July, which could lead to early approvals. The recently approved REX-Osprey fund became the first Solana-related product to hit the market, indicating a potential change in SEC's approach to crypto ETFs.
The launch of the PUMP token and the potential approval of Solana ETFs highlight the growing interest in the Solana ecosystem and its projects. The attention of all cryptocurrency market players is now focused on how these events will affect market dynamics.
