By Ajibola Fowowe
The emergence of cryptocurrency in the labour capital market has empowered millions of people with financial substance creating a market place of all for all.
Pump.fun a crypto coin which was launched in the early 2024 has emerge as the ‘new waking king’ as it currently raises over $600 millions in 720 seconds late Saturday evening.
This development increases other crypto lifelines such as memecoins.
According to the CoinMarketCap. “live Pump.fun price today is $0.007595 USD with a 24-hour trading volume of $6992615.70 USD.”
Saturday’s token sale also marks a resurgence of the Initial Coin Offering (ICO) model—a fundraising method that had largely faded after peaking in early 2018 and subsequently falling out of favor due to scams, regulatory crackdowns, and investor losses.
It was reported that ICOs , (Initial Coin Offering) are now seeing a revival amid looser market sentiment and a renewed appetite for high-risk, high-reward bets.
The sale priced 125 billion tokens at $0.004 apiece, imply revenue generated via the launchpad dropped from $133 million in the first month of the year to nearly $34 million last month, according to DeFiLlama data.
While launchpad volumes plunged, Pump.fun’s decentralized exchange PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of volume in May and $10 billion last month.
Revenue for PumpSwap stood at $7 and $5 million for those months, per the same data source.ng a $4 billion fully diluted valuation for the Solana-based memecoin launcher’s new utility token.
However, holders must wait to get their hands on the token they bought.
Pump.fun said the purchased tokens will land in wallets over the next 48–72 hours and will stay locked until distribution ends, blocking trades or transfers.
In a firm and assured tone founder and crypto investments firm Split Capital, Zaheer Ebtikar commented .
“You go from max fear to max FOMO very quickly,”
The team shared the official Solana contract address—
pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn— and warned users to shun look-alike assets.
Stressing that Crypto is becoming machinery of ‘ a new financial market’ with individuals pulling through the New face-phase of fiscal monetary values.
