Pump.fun, a Solana-based token-launch platform, has begun a large-scale buyback of its native PUMP token, funding the effort with trading-fee revenue rather than diverting the proceeds to exchanges as in the past. On-chain data compiled by blockchain analysts shows the project moved 187,770 SOL—valued at about $30.6 million—into a dedicated wallet between 15 and 16 July. Of that amount, 118,351 SOL (roughly $19.3 million) has already been used to acquire 2.99 billion PUMP tokens at an average price of $0.0064, leaving around 69,420 SOL (about $11.5 million) available for further purchases. Wallet activity indicates the team added a single $16 million tranche late Tuesday, suggesting the first-day repurchase programme could reach close to $30 million. The buying pushed PUMP about 10 percent higher and lifted its fully diluted market value to an estimated $6.5 billion to $6.8 billion, according to price-tracking services. The move represents a shift in treasury strategy for Pump.fun. Data from analytics firm Lookonchain shows the platform had previously sold about 4.1 million SOL (approximately $741 million) in fees since May 2024. Pump.fun has not publicly commented on the latest buyback initiative.