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PUMP post-mortem: Breaking down the pump.fun ICO

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The pump.fun ICO was a roaring success, raising $500 million onchain at a $4 billion fully-diluted value (FDV). Another $100 million was raised via CEXs.

More than 10,000 addresses took part in the Saturday sale conducted on Solana. In total, 12.5% of the entire supply was sold in 12 minutes — 125 billion PUMP for $0.004 each. 

Within two days, PUMP had reached as high as 70% above that initial mark and has since retraced to be 14% ahead with a $4.6 billion FDV.

Such a rapid sale made availability a primary concern for anyone trying to get in — and as it turned out, it was much easier to…

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