Cryptocurrency trade Gate.io has quietly eliminated a web page displaying an upcoming token sale for the Pump.enjoyable Solana-based memecoin platform.
On Tuesday, customers of X seen a “leaked” webpage displaying particulars of a public sale of the Pump.enjoyable official token, scheduled to start out on July 12.
The web page reveals 150 billion tokens being supplied at $0.004 out of a complete provide of 1 trillion tokens. The increase would quantity to round $600 million.
The web page states the IEO (Preliminary Alternate Providing) marks Pump’s “first official public token sale,” and the IEO valuation is about at $4 billion.
Nevertheless, the crypto trade later deleted the web page from each the English and Chinese language variations of the web site, now displaying a 404 “web page not discovered” discover.
Gate.io assist put up provides to confusion
A response from Gate.io assist to a person in regards to the takedown has solely added extra confusion, stating, “following negotiations between Gate and the undertaking, Gate has eliminated Pump.enjoyable Pre-Market OTC. Presently, there is no such thing as a confirmed date or announcement for its reopening.”
The message references an October 2024 announcement that the trade would now not assist over-the-counter buying and selling for Pump.enjoyable.
Cointelegraph reached out to Gate.io and Pump.enjoyable founder Alon Cohen for remark, however didn’t obtain an instantaneous response.
Token sale rumors
In early June, rumors emerged that Pump.enjoyable was planning to lift $1 billion by way of a token sale that might worth the corporate at $4 billion.
Nevertheless, neither the platform nor its co-founder, Alon Cohen, confirmed these rumors regardless of a report on the time citing individuals acquainted with the matter.
Associated: Pump.enjoyable and its founder hit in X account suspension blitz
Pump.enjoyable’s recognition wanes after memecoin droop
The Solana-based meme market Pump.enjoyable surged in recognition in January in the course of the memecoin minting frenzy.
The platform has facilitated the creation of greater than 11 million new tokens with a mixed complete income of roughly 4.4 million Solana (SOL), or roughly $655 million, in keeping with Dune Analytics.
Nevertheless, volumes have plummeted round 75% because the top of the memecoin frenzy in January, in keeping with Dune.
DefiLlama studies a steeper 80% droop in day by day quantity on the platform over the previous six months.
On Monday, Cointelegraph reported that Solana’s latest memecoin launchpad, LetsBonk, doubled Pump.enjoyable’s day by day income with $1 million, shaking up the leaderboard within the memecoin house.
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