A fresh assessment published by
BitMEX
reveals that a significant
$312.73K
portion of individuals who invested in PUMP’s initial offering have since liquidated or moved their holdings.
Data indicates that out of the 10,145 wallets involved in the presale, approximately 60%, totaling 6,042 wallets, have either traded their tokens or transferred them to centralized trading platforms. Conversely, 3,791 wallets are still maintaining their initial investment, and an additional 312 have increased their holdings since the token’s launch.
Following its market introduction, the PUMP token experienced a surge to a high of $0.006812 on July 16th, only to recede by 19% to $0.005468 on July 17th.
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Despite the price correction, PUMP’s initial trading price of $0.0056 still exceeded its presale value by roughly 40%. Market analysts have pointed out that this performance is notably favorable, particularly given the large volume of tokens available immediately following the launch.
BitMEX
observed
that this pattern often encourages traders to speculate against PUMP, contributing to additional market pressure. The exchange commented:
Circumstances involving large floats and the potential for quick gains, like those observed with PUMP, often lead to risk mitigation strategies and increased negative momentum within the derivatives markets.
However,
BitMEX
cautions that the sustained value of PUMP is contingent on Pump.fun’s capacity to sustain its current trading activity. The platform has experienced a decrease in transaction volumes, from $11.6 billion in January to $3.65 billion by June.
Recently, Gate briefly included Pump.fun token on its listing schedule for a $600 million sale but abruptly removed it afterward. Want to know what happened?
Find the detailed explanation here
.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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