"Pump.fun executed two large onchain PUMP burns totaling approximately $370 million, with 128.22 billion PUMP worth $233 million burned earlier in the day, confirming a significant reduction in circulating supply."
"Going forward, 50% of net fees from the Bonding Curve, Pumpswap, and Terminal will be routed to open-market PUMP purchases and immediate burns via a locked smart contract, marking a structural change in revenue handling."
"Following the burn announcement, PUMP's price rose approximately 7%, and its 24-hour trading volume surged to $161 million, indicating a strong market response to the changes."
Pump.fun executed a significant burn of approximately $370 million worth of PUMP tokens, reducing the circulating supply by 36%. The platform has committed 50% of its net revenue from key products to a locked smart contract for ongoing buybacks and burns over the next year. This change marks a shift from the previous model where all revenue was directed to buybacks. Following the announcement, PUMP's trading volume surged by 137.87%, and its market capitalization reached $631.68 million.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]