The $PUMP token sale, launched by Pump.fun on the Solana blockchain, sold out in a stunning 12 minutes Saturday, raising $600 million from the sale of 150 billion tokens priced at $0.004 each, according to a post on X by @pumpdotfun.
The rapid sell-out outpaced the 2017 Filecoin initial coin offering, which raised $257 million over a month, signaling a surge in speculative investment fervor within the crypto community.
The sale underscores the growing prominence of the Solana ecosystem, which now hosts over 100 projects with a combined market capitalization exceeding $10 billion as of July 2025, according to CoinMarketCap data.
However, the tokens will remain untradable for a 48-72 hour distribution phase, raising questions about market sustainability amid the hype.
Regulatory uncertainty surrounds the ICO, with the U.S. Securities and Exchange Commission’s EDGAR database indicating that only 15% of ICOs in 2024-2025 have filed the required Form D. This suggests potential legal risks for $PUMP, despite the project’s claim of being community-driven. Pump.fun did not immediately respond to requests for comment.
The sale’s success highlights Solana’s increasing influence in the crypto space, though experts caution about the volatility and long-term viability of such rapid fundraising efforts.
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