Pump.fun’s public token sale for its PUMP cryptocurrency raised $500 million after selling out rapidly in roughly 12 minutes.
PUMP Token Sale Sells out, Raising $500 Million for Platform Expansion
The initial coin offering (ICO) — a crowdfunding method for new digital tokens — launched July 12 at 2 p.m. UTC. Pump.fun, a leading meme coin creation platform on Solana, offered 125 billion PUMP tokens at $0.004 each. These tokens represent 12.5% of its total 1 trillion supply.
Pump.fun’s platform essentially enables users to create and trade meme-inspired cryptocurrencies. The PUMP token will fund platform upgrades, social trading features, and ecosystem incentives like fee rebates. The sale occurred amid surging interest in meme coins, with assets like DOGE, TRUMP, and PEPE rallying this week pre-launch.
The $500 million raise follows an earlier private sale where 18% of tokens sold to institutional investors. Combined, Pump.fun secured over $1 billion ahead of trading. Token allocation includes 24% for community initiatives, 20% for the team, and 13% for existing investors.
Major exchanges including Bybit, Kraken, and Pump.fun’s own platform hosted the ICO. It has been said that U.S. and U.K. investors were barred due to regulations, shifting focus to Asian and European markets. Individual caps reached $1 million per buyer.
Pre-sale derivatives trading on platforms like Hyperliquid showed a 40% premium over the ICO price, signaling intense demand. All tokens reportedly unlocked immediately at launch, with trading expected by July 18.
Pump.fun will use proceeds to enhance its platform after acquiring wallet tracker Kolscan. Analysts note risks including meme coin volatility and regulatory challenges, but the sellout highlights significant market appetite.
