Pump.fun is preparing to launch its own token, with plans to raise as much as $1 billion in initial sales. According to some reports, the sale could value the project’s token at around $4 billion.

The token will be offered to both private and public investors. Reports suggest the sale could take place within the next two weeks, although no official date has been announced.

BeInCrypto earlier reported that the launch could take the form of either an airdrop or a Liquidity Bootstrapping Pool (LBP). Each option comes with trade-offs, but the project has not yet disclosed which route it will take.

Speculation around the launch intensified today after Bybit renamed a previously listed token. The token, originally called ‘PUMP’, was tied to PumpBTC, a liquid staking protocol for Babylon. 

Bybit changed the ticker to ‘PUMPBTC’, leaving ‘PUMP’ available.

Bybit has renamed the ticker for PumpBTC from $PUMP to $PUMPBTC.

This change is exclusive to Bybit and does not affect listings on other exchanges.

Trading under $PUMPBTC resumed at 8:00 UTC, June 4https://t.co/bJgDkMLREw

This move triggered fresh discussion within the crypto community, with many pointing to a likely token launch by the Solana-based platform. That speculation has now been confirmed.

Pump.fun has not released further technical or tokenomic details yet. 

This is a developing story, and more information is expected in the coming days.

The post Pump.fun Confirms Plans for PUMP Token Launch Aiming to Raise $1 Billion appeared first on BeInCrypto.

317 +