PUMP Jumps 67% in a Month as $13.6 Million in Tokens Are Unlocked

PUMP, the native token of Solana-based memecoin launchpad Pump.fun, has continued to surge as additional tokens held by the team and early investors were unlocked.

On HTX on Aug. 14, PUMP was up 19.65% over the past seven days and 66.57% over the past 30 days. Its market capitalization swelled to $1.665 billion. Pump.fun’s token buyback-and-burn policy and increased platform usage appear to have supported investor sentiment.

Earlier that day, 4.94 billion PUMP tokens allocated to the Pump.fun team and early investors were unlocked. The tranche was worth about $13.6 million at the time. The tokens were then dispersed across 125 wallets.

A token unlock is the process by which previously non-tradable supply becomes available for sale. If a large amount is moved to exchanges, it can create short-term selling pressure.

PUMP has a maximum supply of 1 trillion tokens. Of that, 20% was allocated to the team and 13% to existing investors. Those holdings have been released in stages after a one-year lockup ended following the token’s launch in July last year.