Reported 2 days ago
Amid a broader downturn in the cryptocurrency market, Pump.fun's native token, PUMP, has risen by 17% this week thanks to the platform’s buyback strategy aimed at reducing supply and supporting token holders. Currently trading at $0.0035, PUMP has gained 40% compared to a month ago, despite being down 50% since its initial launch in July. The platform has successfully generated $734 million in fees over the past year, with $59 million directed towards buybacks, which are vital for stabilizing the token. As autumn approaches, generally a strong period for digital assets, PUMP’s future growth will depend on maintaining consistent fee revenue in a challenging market.
Source: YAHOO