- Pumpfun has purchased 3.196 billion $PUMP using $19.2 million from fee revenue.
- The buyback used 118,350 SOL out of a $30.5 million total transfer.
- $PUMP price has risen 10.38% in 24 hours, currently trading at $0.006618.
Pumpfun has executed a large-scale buyback of its native $PUMP token, acquiring 3.196 billion tokens worth approximately $19.2 million according to data from spotonchain. The buyback, funded entirely from protocol fee revenues, began roughly eight hours ago and has already impacted market metrics. The platform sent 187,770 SOL, equivalent to $30.53 million, from its fee accounts to the wallet “3vkpy5” to facilitate open-market accumulation of the token.
The average price paid during this campaign stands near $0.006 per token. This action follows a pattern shift in how Pumpfun manages fee revenue. Previously, the platform frequently offloaded its fee earnings directly via centralized exchanges. However, this time, it opted to redirect earnings to support the token price through a buyback effort.
Pump.fun Switches to On-Chain $PUMP Buybacks
Since May 19, Pumpfun has consistently sold fees using centralized platforms. Records show approximately 4.1 million SOL, or $741 million, was sold at an average rate of $180 per token through Kraken. This historical approach generated liquidity but did not aim to support $PUMP’s price directly. The current move marks a departure from that strategy.
Instead of liquidating on exchanges, the protocol now uses on-chain capital to accumulate its own token. The recent transfer of 187,770 SOL for this buyback aligns with that shift. So far, 118,350 SOL of this has been deployed, representing $19.2 million in token purchases. The volume remains significant, with the accumulated 3.196 billion tokens entering the buyback address.
$PUMP Rebounds Post-Presale as Buyback Boosts Price
Following a $500 million presale that sold out in 12 minutes at $0.004, $PUMP briefly experienced downward pressure. However, the token has since rebounded, aided by the ongoing buyback. As of now, $PUMP trades at $0.006664, reflecting a 9.43% increase over the past 24 hours.
The 24-hour volume currently sits at $1.31 billion, showing a 2.06% decline from the previous day. Despite this, the market cap has grown to $2.34 billion, mirroring the day’s percentage gain. The token’s fully diluted valuation (FDV) stands at $6.61 billion, underlining the scale of capital involved.
The buyback effort appears to have shifted market sentiment and price action in the short term. As capital continues flowing into $PUMP from fee-derived SOL, both supply dynamics and market behavior may continue to evolve.
