tl;dr
Tokens on Pump.fun rose 8% on Wednesday, solidifying its lead over LetsBonk for the seventh day. The Pump.fun team injected nearly $1.7 million through the Glass Full Foundation, aimed at boosting liquidity for tokens with dedicated communities. Fartcoin, the largest token, gained 15% to a $1.08 bil...
Tokens created on Pump.fun have surged 8% on Wednesday, reasserting the launchpad's dominance over LetsBonk for the seventh consecutive day. This uptick follows the Pump.fun team injecting nearly $1.7 million into the ecosystem through an initiative called the Glass Full Foundation. The exact nature of this initiative remains unclear, whether it is a standalone project or a new entity.
Among the tokens, Fartcoin, the largest by a significant margin, gained 15% to reach a $1.08 billion market cap. This dwarfs the platform’s second-largest token, Peanut the Squirrel, which increased 4.7% to $263 million, making Fartcoin over three times larger. Meanwhile, Pump.fun’s own token, PUMP, surpassed Fartcoin to hit a $1.3 billion market cap, up 20%, after a nearly 12% weekly rise.
PUMP faced an initial dip post-token generation event as traders preferred rival launchpads such as LetsBonk. However, it regained market share, helped by token buybacks and support from the Glass Full Foundation. This foundation aims to inject significant liquidity into Pump.fun tokens, particularly those with dedicated communities. Since launching on Friday, it has invested about $1.7 million in multiple tokens.
An impressive example is Tokabu, representing the original character The Spirit of Gambling, which doubled from $36.5 million to $73.5 million over the weekend before falling 37% to $46 million. Despite the drop, the Foundation’s investment remains profitable. Furthermore, the Pump.fun X (formerly Twitter) account has shifted strategy, increasingly promoting tokens with memes, artist content, and reposts to regain ground lost to LetsBonk.
LetsBonk had captured nearly a month of market share by reinvesting 1% of all revenue into its top coins and fostering a supportive community around its projects. Yet, Pump.fun has made a strong comeback, accounting for 71% of all Solana token launches on Tuesday—up sharply from 14.8% at the start of the month.
Several Pump.fun tokens have seen substantial gains recently: FRIC surged 45%, Butthole Coin rose 27.6%, and Comedian, a viral banana artwork coin, climbed 24.3%. Conversely, some notable tokens like Troll, Cuspey, and Chill House experienced declines ranging from 9% to 15%. As excitement revives around the launchpad, PUMP briefly traded at its initial coin offering price of $0.004 on Wednesday, highlighting renewed investor confidence.