Aug 28, 06:32 PM

Pump.fun Buys Back $10.6 Million of PUMP, Holds 80% Launchpad Share

Solana-based memecoin launchpad Pump.fun has tightened its grip on the sector, accounting for 84% of market share on Aug. 27 and 79.5% two days later, according to crypto data provider JupPro. Weekly trading volume linked to the platform reached about $794 million, while its nearest rivals each controlled less than 8% of the market. New entrant Heaven captured roughly 15% share in its debut week but remains far behind the incumbent leader. The dominance is being reinforced by an aggressive buy-back program. Pump.fun spent $10.66 million repurchasing its native $PUMP token during the week of Aug. 20-26, equal to 99.3% of its revenue for the period. Total buybacks now stand at $58.13 million, removing an estimated 4.261% of the token’s circulating supply. Tweets from on-chain trackers indicate the platform has directed about $15 million to repurchases over the past two weeks, funded in part by protocol fees that have exceeded $1 million a day since early August. Market enthusiasm has followed the spending spree. The price of $PUMP has climbed 32% over the past month, including a 16% jump on Aug. 29 that lifted its market capitalization to roughly $1.23 billion and its fully diluted valuation to around $3 billion. Analysts say the sustained revenue-backed buybacks are supporting the rally, though some observers question how Pump.fun can keep devoting more than 100% of daily revenue to token purchases.

#JupPro #Heaven #Pump

Written with ChatGPT .

Pump.fun Buys Back $10.6 Million of PUMP, Holds 80% Launchpad Share

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