Bybit has confirmed particulars of the much-awaited Pump.enjoyable token sale, revealing that customers registered via its European Union-regulated platform, Bybit.eu, is not going to be permitted to take part within the token sale, citing compliance with the European Union’s Markets in Crypto-Property Regulation (MiCA).
The general public sale of PUMP, the native token of the no-code memecoin launchpad Pump.enjoyable, will open on July 12 at 14:00 UTC and run via July 15, in line with a Wednesday press launch shared with Cointelegraph.
A complete of 150 billion PUMP tokens, 15% of the one trillion complete provide, will probably be supplied at a hard and fast worth of $0.004 USDT per token.
Bybit, at the moment the world’s second-largest crypto alternate by buying and selling quantity, is the one main platform collaborating within the sale. A lot of different exchanges may also assist the token sale.
Bybit will assist subscriptions in USDt (USDT), USDC (USDC), Solana (SOL) and bbSOL, offering entry to each stablecoins and Solana-native belongings.
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Pump.enjoyable rises to prominence
Pump.enjoyable, launched in January 2024, shortly rose to prominence for enabling customers to create and commerce memecoins with zero coding abilities. The platform’s gamified interface and viral mechanics have pushed a wave of onchain experimentation on Solana, reworking informal customers into lively token creators and merchants.
Final month, rumors began swirling that the platform is getting ready a $1 billion token sale at a $4 billion valuation.
Nonetheless, the crypto neighborhood has been divided in its response. Whereas some expressed pleasure about potential listings and buying and selling alternatives, others have criticized the platform’s impression on the area.
Social media persona Ash Crypto claimed Pump.enjoyable has turned altcoin traders into “memecoin gamblers,” pointing to $700 million in extracted worth with most customers reportedly shedding cash.
Information from DefiLlama exhibits Pump.enjoyable has already generated practically $715 million in income. The platform has generated over $35 million over the previous month alone.
Associated: Bots behind most tokens on Pump.enjoyable and LetsBonk
Pump.enjoyable’s momentum declines
Regardless of the hype surrounding its token sale, Pump.enjoyable volumes have plummeted round 75% for the reason that peak of the memecoin frenzy in January, in line with Dune. DefiLlama reviews a steeper 80% hunch in day by day quantity on the platform over the previous six months.
The downturn comes as new rivals enter the area. On Monday, Cointelegraph reported that rising launchpad LetsBonk outpaced Pump.enjoyable’s day by day income, bringing in $1 million and signaling a possible shift in memecoin dominance.
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