- PUMP token is now trading on major exchanges like Kraken and Bybit, but dropped 30% to $0.005 after going live.
- Trading volumes hit $508 million with an 8,511% spike, and the token maintains a $5.53 billion fully diluted valuation.
- Community members are raising concerns about the token sale process and criticizing it as favoring venture capital investors over retail traders.
Pump.fun has confirmed that its PUMP token is now available for trading on major cryptocurrency exchanges after its public sale. The token has experienced immediate volatility, dropping nearly 30% since trading began despite maintaining a $5 billion fully diluted valuation.
The platform announced through an X post that PUMP tokens from the public sale are now live and tradable across multiple exchanges. Leading centralized exchanges, including Kraken, Bybit, KuCoin, and MEXC, have listed the token within 48 hours of the public sale completion.
PUMP currently trades at $0.005, representing a significant decline from its initial trading price. The token had surged during premarket trading over the weekend, riding momentum from the public sale announcement before facing selling pressure in open market conditions.
Token Metrics Show Strong Trading Activity
The token maintains a fully diluted valuation of $5.53 billion with 354 billion PUMP tokens in circulation from a total supply of 1 trillion. Trading volumes have reached $508 million, marking an 8,511% increase in transaction activity within 24 hours of exchange listings.
Market forces now determine PUMP’s price trajectory as the token transitions from controlled distribution to open market trading. Despite the price decline, the substantial trading volume indicates strong interest from both retail and institutional traders.
Pump.fun had previously disclosed plans to enable trading after public sale participants received their allocated tokens. The rapid exchange listings demonstrate the platform’s commitment to providing immediate liquidity for token holders.
Community Concerns Surface Over Token Launch
Public sale participants have raised concerns about the token launch process and exchange handling. Bybit experienced unexpected API delays during the public sale event, causing frustration among investors attempting to participate.
The trading announcement notably omitted any mention of the previously announced airdrop, leading to questions from the community about the distribution timeline. Some investors have criticized the token sale structure, suggesting it favors venture capital investors over retail participants.
Competition in the token generation space has intensified with Binance launching a rival platform powered by bonding curve mechanisms. The new platform features dynamic pricing models and represents Binance’s token generation event sector entry.
PUMP’s market performance will be closely monitored as the crypto community evaluates whether the token can recover from its initial trading decline. The combination of high trading volumes and exchange support provides a foundation for potential price stabilization, though market conditions remain the primary determining factor for future performance.
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