Pump.fun raises a billion to launch its token
The phenomenon of Pump.fun is reaching a new height. The platform, known for launching memecoins on Solana, is reportedly preparing to raise a billion dollars through the sale of its own token, as per Blockworks. The goal? A fully diluted valuation of 4 billion dollars.
An unstoppable platform on Solana
Launched just over a year ago, Pump.fun allows any user to create a token with a few clicks on the Solana blockchain. In less than 18 months, it has already generated over 700 million dollars in revenue, a staggering figure that reflects the boom of memecoins.
The exact nature of the upcoming token remains unclear: neither the sale schedule nor the token issuance method (on Pump.fun or elsewhere) have been confirmed yet. However, the scale of ambitions is evident: attracting a billion dollars in capital alone would position the platform among crypto giants.
Immediate Impact on SOL
The announcement sparked an immediate reaction in the markets. The price of SOL, Solana’s native crypto, dropped by around 3% since the news was released. This reaction reflects the uncertainty surrounding the potential dilution or redistribution of value within the Solana ecosystem.
