Categories: Crypto

Pump.fun secures $500M in public sale; PUMP token jumps in pre-market trading

Key Takeaways

Pump.fun raised $500 million in a public sale by selling 12.5% of the PUMP token supply.
PUMP tokens sold out in 12 minutes and will be distributed to buyers within 48-72 hours.

Meme coin creation platform Pump.fun completed a $500 million public token sale on Saturday, with all available tokens selling out within 12 minutes of the offering.

“We are delighted to reveal that the $PUMP public sale was able to sell out in only 12 minutes,” Pump.fun said in a statement. “We would like to thank our entire community for participating!”

The PUMP token surged in pre-market trading on Hyperliquid within seconds of the token sale, reaching $0.007. At the time of reporting, PUMP changed hands at around $0.006.

“We’d like to thank everyone who participated in the sale, whether on pump fun or on one of the participating exchanges, and we look forward to the very bright future of pump fun and the wider Solana ecosystem,” the team said.

The token, listed under the ticker PUMP, was offered at $0.004 per unit, representing 12.5% of the total 1 trillion supply.

Token buyers will receive their PUMP tokens within 48-72 hours, with transfers temporarily disabled during the distribution phase. The tokens will become tradeable once distribution is complete, according to project announcements.