PumpDotPump surpasses $200M in buybacks… bought 14% of circulating supply five months after launch
Summary
- PumpDotPump said its buyback amount surpassed $200 million.
- It said it bought 13.8% of the total circulating supply in five months after launch, recording the top buyback among Solana protocols.
- Its native token PUMP has fallen 15.28% over the past week and is trading at $0.002775.
Solana (SOL)-based meme coin issuance platform PumpDotPump (PUMP) has exceeded $200 million in buybacks (repurchases of its own token).
On the 11th (local time), according to SolanaFloor, PumpDotPump's buyback amount was calculated at $205.42 million as of that day. SolanaFloor said, "(PumpDotPump) bought 13.8% of the circulating supply in just five months after the token launch," and "the cumulative buyback amount ranks first among Solana protocols, surpassing Raydium (RAY)."
PumpDotPump's native token PUMP was launched in July. PumpDotPump is regarded as a project that helped drive the growth of the Solana network last year thanks to the meme coin craze.
Meanwhile, as of 4:03 PM (Korean time) on that day, PumpDotPump was trading on CoinMarketCap at $0.002775, down 8.6% from the previous day. Compared with one week earlier, it is down 15.28%.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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