Bybit, one of the leading cryptocurrency exchanges globally, announced the launch of the PUMP token sale, but users on the Bybit.eu platform will be unable to participate due to new regulations in the EU.
Details of the PUMP Token Sale
The token sale will begin this Saturday at 14:00 UTC and run through Tuesday. A total of 150 billion PUMP tokens will be available at a fixed price of $0.004 USDT each. Participants can subscribe using USDT, USDC, Solana, and bbSOL.
The Pump.fun Platform and its Impact
Pump.fun, responsible for the PUMP token launch, has become a popular platform for launching memecoins on the Solana blockchain. The platform allows users to launch tokens with little to no technical experience, contributing to increased traffic and revenue within the crypto ecosystem.
Criticism and Market Consequences for Memecoins
Despite its successes, Pump.fun faces criticism for creating conditions that encourage speculation. Platform activity has declined by 75% from January’s peaks. Competitors like LetsBonk are starting to capture market share, increasing their revenues.
Thus, the launch of PUMP tokens on Bybit is accompanied by not only user interest but also many questions about compliance with new regulations and the stability of memecoins.
