Summary
- PumpDotFun rose 56% during the month of August.
- It assessed that revenue buybacks averaging 98.7% during the same period were the main factor behind the rise.
- It said that token purchases totaling US$88.5 million offset 6.3% of the circulating supply, creating upward price pressure.
PumpDotFun (PUMP) rose 56% in August alone.
On the 13th (local time), Messari analyst Matthew Nei said on X, "PumpDotFun rose 56% over the month of August. This is an effect of executing revenue buybacks averaging 98.7% over the same period," he assessed.
He added, "Since July 15, the PumpDotFun team has secured a total of 386,883 SOL in revenue, and about US$88.5 million of that was used to buy PumpDotFun tokens," and "this offset 6.3% of the circulating supply and led to upward price pressure," he analyzed.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
