Token sales initiation planned by Pump.fun, the leading meme coin launchpad.
Pump.fun's highly anticipated token sale on Gate.io and other exchanges concluded successfully, selling 15% of the total token supply in just 12 minutes and raising a total of $600 million. This valuation places Pump.fun at $4 billion fully diluted.
On Gate.io specifically, about $5 million worth of tokens were sold during this token sale phase. The tokens from the sale entered a 48-72 hour distribution phase immediately after, during which the tokens remain locked and non-transferable. Trading of $PUMP on Gate.io and other major exchanges like Kraken, KuCoin, Bybit, Bitget, and MEXC was expected to begin shortly after the distribution ended, around July 15-16, 2025. The exchanges received large allocations of tokens to support trading liquidity, with Gate.io receiving an allocation worth about $25.6 million as part of the post-sale distribution.
The removal of the Pump.fun token sale page on Gate.io has left many wondering about the reasons behind it. Given that the ICO sale ended very quickly due to high demand, a likely reason for the page's removal is that the sale has closed and the page was taken down accordingly. Token sales on centralized exchanges often have their purchase or listing pages removed when the sale ends or the tokens become tradable, to avoid confusion and reflect status updates. No other regulatory or technical issues linked to Gate.io's removal of the sale page are reported.
However, the success of the sale has left some community members questioning the ambitious valuation and lack of a clear token roadmap. There are concerns that the 15% supply set aside for the sale may eat into the highly anticipated airdrop, which the Pump.fun team once hinted could be "one of the largest in crypto history."
Meanwhile, rival launchpad LetsBonk.fun has been making strides, overtaking Pump.fun in daily token launches. LetsBonk.fun allocates 50% of platform fees toward buybacks of $BONK, creating a virtuous cycle of demand and price support. On July 6, LetsBonk.fun's daily revenue crossed the $1 million mark, while Pump.fun's daily revenue dropped to $533,000, a decrease of over 92% from its peak in January.
The success of Pump.fun's token sale, coupled with the stable earnings of Hyperliquid ($38 billion valuation) despite similar revenue numbers, highlights the volatile nature of the cryptocurrency market. The future of Pump.fun remains uncertain, with questions about its valuation, airdrop, and competition with rivals like LetsBonk.fun yet to be answered.
[1] Gate.io Official Announcement: Pump.fun Token Sale [2] Pump.fun Official Announcement: Successful Token Sale Conclusion [3] DeFiLlama: Pump.fun Total Fees Collected [4] Gate.io Support Message: Explanation for Removal of Pump.fun Token Sale Page [5] Kraken Official Announcement: Pump.fun $PUMP Listing Announcement [6] KuCoin Official Announcement: Pump.fun $PUMP Listing Announcement [7] Bybit Official Announcement: Pump.fun $PUMP Listing Announcement [8] Bitget Official Announcement: Pump.fun $PUMP Listing Announcement [9] MEXC Official Announcement: Pump.fun $PUMP Listing Announcement
Solana technology was utilized by the Pump.fun platform during its highly successful token sale. The tokens from the sale were distributed on major exchanges like Gate.io, Kraken, KuCoin, Bybit, Bitget, and MEXC, which were supported by large allocations of tokens to ensure trading liquidity.
