The PUMP token IPO has concluded, raising $500 million in just 12 minutes. Despite this success, the team did not meet the $600 million goal.
Highlights of the PUMP Sale
According to the Pumpfun team, 12.5% of the total token supply was sold in the public sale. The sale price was set at $0.004, with a pre-market trading price around $0.0056.
Participation and Funding
A total of 203 different wallets participated in the ICO, each utilizing the maximum investment limit of $1 million. Of these, 201 paid in USDC and 2 in USDT, accounting for 40% of the total funding.
Statements from the Pumpfun Team
The Pumpfun development team stated, "The PUMP public sale has concluded. We are pleased to announce that the sale was completed in just 12 minutes. We thank all our community members who participated." The token distribution process will begin within the next 48-72 hours, with tokens not being tradable or transferable during this period.
While the sale concluded rapidly, the actual funds raised fell short of expectations. The team has yet to disclose the reasons for this discrepancy.
