Pumpfun Expands Beyond Memecoins With New Venture Investment Arm, PUMP Price Jumps

Michael Adeleke
1 hour ago
Michael Adeleke

Michael Adeleke

Crypto Journalist
Expertise : Cryptocurrency, Blockchain, DeFi
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
un debuts Pump Fund to support crypto startups

Highlights

  • Pumpfun has officially launched a new investment arm called Pump Fund.
  • The initiative will debut with a $3 million hackathon.
  • PUMP token reacted positively to the announcement, gaining nearly 3%.

Pumpfun has expanded its offerings, announcing the launch of its new investment arm. This new move is aimed at funding crypto-related startup projects in its ecosystem. Crypto traders reacted to the news as the PUMP price recorded gains.

Pumpfun Launches “Pump Fund” for Startup Projects

In a thread on X, the platform revealed it is launching a new investment arm called “Pump Fund.” This would be dedicated to funding startups in its community.

The project would start off with a hackathon project that would distribute $3 million in funding for 12 different projects. They also said the event would be different from other programs as it would be judged by users in the ecosystem.

“Instead of having to please judges/VCs for money, tokenizing allows the market to become the judge. Your users are the ones that fund you by betting on you early. Those who can capture the minds of the people are empowered like nowhere else,” they said.

Participants of the Pumpfun project are expected to build their own project and launch a new native token. They are also to control 10% of the overall supply of the coin, while expanding its own community.

The initiative is similar to the launch of its Glass Fund Foundation, which launched in August last year. The GFF aimed to provide liquidity for memecoin tokens in its ecosystem, giving them a chance to withstand the volatile market. Since its launch, many projects have received substantial funding.

Since its launch, Pumpfun has been a major leader in the space. It has seen the launch of millions of tokens and generated a substantial amount in just fees. The project has continued to build on its momentum as they look to maintain its position.

PUMP Price Reacts

In reaction to the news, the PUMP token price rose by 2.78% in the past 24 hours despite the broader crypto market crash. The coin is now maintaining price movement between $0.0266 and $0.259.

Source: TradingView; PUMP daily chart

The PUMP price had been showing positive signals since Pumpfun announced the changes to its creator fee model. The dynamic fees were initially launched to encourage more token launches. This was done to ensure a balance in bonuses for traders and token creators.

It is also worth noting that the platform has repurchased about $250 million worth of the token since it started the buyback plan last July. This has helped reduce the circulating supply to over 19%. The team has said that they would continue with its purchases as they look to regain previous highs.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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