The token of launchpad platform Pump.fun traded at 0.00526 euros on Thursday, October 1, at 01:04, according to CoinGecko. Seven days earlier it stood at 0.00352 euros. That is a gain of 49.6 percent in one week. With a market capitalization of around 2.45 billion euros, PUMP ranks 40th on CoinGecko.
Three developments sit behind the move, and all three can be documented. The buybacks funded from part of the platform's revenue have been running for more than a year and have by now destroyed a sixth of the maximum supply. Revenue picked up noticeably from September 26. And on September 25 the US Securities and Exchange Commission set out how it views buyback programs run by crypto projects. That statement is being read more broadly in many reports than its wording supports.
The PUMP price this week: from 0.0033 to 0.0053 euros
The weekly low was 0.00333 euros on Wednesday, September 24, at around 14:00, according to CoinGecko's hourly data. From there the price climbed almost without a setback. The weekly high coincided with the final data point, that is with the level in the early hours of Thursday. Over the preceding 24 hours ...
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