Pumpfun has announced it will purchase its native token, $PUMP, using profits it made during its launch. The on-chain data indicates that yesterday, approximately 187,770 SOL, or about $31.3 million, were transferred to a special buyback wallet.

Pumpfun has started a multimillion-dollar buyback of its $PUMP token using platform revenue.

Onchain data shows 187,770 $SOL (~$31.3M) was moved to a buyback wallet.

So far, about 118,351 SOL ($19.3M) has been used to repurchase nearly 3 billion PUMP tokens.

News of the…

So far, Pumpfun has spent about 118,351 SOL (around $19.3 million) to repurchase nearly 3 billion PUMP tokens, pushing the memecoin’s price sharply higher.

The market lit up with news of the buyback. PUMP rose 17% to about 0.0067, above its ICO price of 0.004. 

These coordinated on-chain repurchases indicate the readiness of Pumpfun to keep the value of the token and show an innovative approach to reward long-term holders. 

Pumpfun initiated a token sale a few days ago, selling 600 million PUMP tokens in just 12 minutes, thereby setting a record for the fastest and largest launch on Solana.

Today, the platform is using some of its cash to purchase back PUMP tokens. The funds are obtained in two ways: much of the money that the platform retains in the form of fees and the profits that the platform receives during the launch of memecoins. 

With this cash, Pumpfun burns its way into reducing the amount of PUMP tokens circulating in the market, assisting in stabilizing the prices, and also exhibiting its ability to maintain its memecoin ecosystem in a healthy state in the long term.

Pumpfun is the first major memecoin incubator on Solana, and the buyback will establish a new standard. Pumpfun is not wasting the money and instead directing it to token economics, bringing true value to its people. 

Analysts believe it will bring additional liquidity to Solana since traders prefer coins whose owners can manage their treasuries and utilize favorable economic frameworks.

As the memecoin market continues to expand, these actions may become the primary method for platforms that connect community-driven launches with value capture over time.

353 +