PUMP Token Pre-Sale Attracts 10,145 Buyers, Raises $500 Million

10,145 wallets participated in the Pump.fun project’s PUMP token pre-sale, completing KYC, PA News reports on July 13. Out of 23,959 wallets, a participation rate of 42.3% was recorded.

The successful completion of the PUMP token pre-sale underscores strong interest in the Pump.fun project, raising $500 million and suggesting high demand for Solana-based meme tokens.

$500 Million Raised, Majority via Website Sales

PUMP token pre-sale concluded with substantial engagement as 10,145 wallets invested. Reports indicate that 23,959 wallets completed KYC, hinting at high interest levels. Purchasers spanned different tiers, with 5,758 wallets buying less than $1,000 and 202 reaching the $1 million cap.

The structure involved website pre-sales accounting for 89.7% while CEX constituted the balance. Such an approach highlights the growing trend towards decentralized finance preferences in token launches. The total capital raised hit $500 million.

@Adam_Tehc’s data panel: 23,959 wallets completed KYC in the PUMP token pre-sale, and 10,145 wallets successfully bought in, with a participation rate of 42.3%; the average purchase amount was $44,209, 5,758 wallets participated in the amount less than $1,000, and 202 addresses reached the hard cap limit of $1 million per wallet. The proportions of website pre-sales and CEX pre-sales were 89.7% and 10.3% respectively.

Market Cap at $1.51 Billion Amid Volatile Trading

Did you know? High buyer concentration, reminiscent of early meme coin shuffles like PEPE and BONK, can drive rapid price shifts and centralized ownership.

According to CoinMarketCap, Pump.fun (PUMP) has a market cap of $1.51 billion, trading at $0.01. The token saw a 5.91% drop over 24 hours but appreciated by 17.15% over the last 90 days. Its fully diluted market cap stands at $7.35 billion.

Coincu’s research suggests implications for token decentralization from the large allocations to 202 wallets. Moreover, increased activity on Solana could bolster its ecosystem, countering the typical volatility seen following meme token launches.