The much-anticipated PUMP token auction from meme asset platform Pump.fun has faced another delay, moving its tentative launch date from June 25 to mid-July. This marks yet another shift in the rollout of the token, which was originally aimed at raising $1 billion for a $4 billion valuation.
Private Sales and Stablecoin Inflows Hint at Off-Market Activity
Despite the lack of an official token launch, there are signs that Pump.fun may be selling token allocations to private investors. On-chain data points to significant stablecoin deposits in wallets connected to the project, suggesting early-stage fundraising is already underway.
Up to $70 million may have been raised privately, even as the public auction remains pending. Sources estimate that up to 60% of the tokens may be distributed via private placements before the Token Generation Event (TGE).
Aevo DEX Pre-Market Hints at Demand
Even with no official launch, PUMP is being speculated on Aevo DEX, where low-volume trades saw the token hit prices of $5.85 to over $7. This pre-market surge hints at strong demand, potentially driving the token’s fully diluted value to over $6 billion.
However, this market remains speculative and highly illiquid. Only $12,000 in open interest has been reported, making it a limited indicator of broader demand.
Revenue Performance Fuels Speculation
Pump.fun continues to generate over $2 million in daily fees, with cumulative revenues exceeding $760 million during its most active periods. This has sparked investor interest, as token holders may benefit from future revenue-sharing mechanisms.
Prior to the auction talks, community members were also anticipating an airdrop, fueling further engagement and speculation around the upcoming token.
No On-Chain Confirmation Yet for Official Token
While multiple assets attempt to use the PUMP ticker, no official contract address has been confirmed. There are also no signs that any pre-existing token will be adopted as the official PUMP token. With increased delays and uncertainty, the community continues to monitor stablecoin flows and platform updates closely.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.