Pump.fun Announces PUMP Token Launch Amid Market Skepticism
The crypto community is abuzz with the upcoming launch of the PUMP token by Pump.fun, scheduled for July 12, 2025. The token, which will be distributed through an Initial Coin Offering (ICO), boasts a total supply of over 1 trillion tokens. Notably, 33% of these tokens are reserved for the ICO, with the private and public sales pricing set at $0.004 per token. However, the launch has been met with skepticism, particularly from large investors, known as “whales,” who are reportedly shorting the token even before its release.
Token Sale Details
The PUMP token sale will be conducted as a multi-exchange ICO/IEO, involving major exchanges such as Kraken, MEXC, Bybit, and others. The sale will offer 150 billion tokens at a fixed price of $0.004 each, starting at 14:00 UTC on July 12. It’s important to note that U.S. and U.K. residents are excluded from participating in the public sale.
Market Reactions and Concerns
Despite the planned launch, there is a notable bearish sentiment surrounding the PUMP token. Whales on the Hyperliquid exchange have been shorting the token, indicating a lack of confidence in its potential performance. This skepticism is further fueled by the token already trading at a 40% premium over its ICO price on Hyperliquid, with significant trading volume and leverage options available.
PumpBTC (Governance Token) Overview
In contrast to the buzz around PUMP, PumpBTC, a governance token, has been maintaining a steady presence in the market. As of July 8, 2025, PumpBTC’s close price was $0.0387116, with a 52-week high of $0.233851 and a low of $0.0266594. The market capitalization stands at approximately $11,237,166.91.
Other Market Developments
In other crypto news, a Chinese customer of FTX has filed a formal objection against the bankrupt exchange’s proposed reorganization plan, alleging discrimination against creditors in “Restricted Jurisdictions.” This development adds to the ongoing legal challenges faced by FTX in its bankruptcy proceedings.
As the crypto market continues to evolve, the launch of the PUMP token will be closely watched by investors and analysts alike, particularly in light of the skepticism and bearish bets surrounding it. Meanwhile, PumpBTC remains a stable player in the governance token space.