The worth of PUMP additionally simply hit a brand new all-time excessive.
The whole worth locked (TVL) on PumpSwap, the decentralized trade from Solana-based memecoin launchpad pumpfun, surged to a report $334.81 million this weekend. The DEX’s TVL excessive got here simply weeks after pumpfun launched a brand new charge construction that rewards creators of smaller tokens.
Knowledge from DefiLlama reveals that the surge wasn’t restricted to locked capital on the DEX, because the protocol’s native PUMP token additionally posted report buying and selling volumes of $1.66 billion over the weekend.
In the meantime, the worth of PUMP spiked virtually 70% over the previous week and 144% prior to now two weeks, to achieve an all-time excessive of $0.00889 yesterday, Sept. 14, in line with CoinGecko information.
The inflow of buying and selling and value momentum additionally lifted the platform’s 24-hour income to greater than $3.1 million as of immediately, Sept. 15, marking its highest stage since mid-February. As of press time, pumpfun is the third-largest protocol within the DeFi house by each day income, overtaking Hyperliquid, per DefiLlama information.
The expansion comes about two weeks after pumpfun rolled out the primary a part of its “Challenge Ascend” ecosystem updates, dubbed “Dynamic Charges V1,” on its PumpSwap market. The replace modifications how Creator Charges work — creators of smaller cap tokens will obtain increased Creator Charges, however the share of charges given to creators drops because the token’s market cap grows. Pumpfun says the change makes it simpler for brand new, smaller tasks to get off the bottom.
“Now, creating on pump enjoyable shall be 10x extra rewarding, which means we’ll see an exponential improve in expertise onboarding to pumpfun, from streamers to startups,” pumpfun mentioned in an X thread on Sept. 2.
Buybacks and Listings
PUMP’s value efficiency comes two months after its much-anticipated ICO, and what ended up being a bumpy token launch, as whales had been fast to dump their tokens shortly after the token went dwell, pushing the worth down, regardless of the platform’s $20 million token buyback program.
The PUMP value has since absolutely recovered and pushed to new highs, with this latest surge pushed by the aggressive buybacks — with pumpfun utilizing 100% of each day income to purchase PUMP on open markets — and up to date listings on main exchanges. Prime centralized crypto trade Binance, together with main South Korean platforms Upbit and Bithumb, all listed PUMP for spot buying and selling on Sept. 11, giving extra merchants an opportunity to purchase and promote it.
