Pump.fun’s $PUMP token launches at $5.6B valuation

• Pump.funs PUMP token debuted with a $5.6 billion fully diluted valuation after its ICO sold out in under 12 minutes.
• Massive demand during PUMPs weekend sale led to exchange failures and user backlash across Kraken and Bybit.

Meme coin launchpad Pump.fun launched its PUMP token earlier today across major crypto exchanges after raising $500 million in an ICO that sold out in under 12 minutes over the weekend.

$PUMP trading is now live!

thank you to all who participated in the $PUMP public sale. its time to build the future of crypto and social media on Solana.

PUMP opened at $0.0056, giving it a $5.6 billion fully diluted valuation. The token briefly spiked to $0.0065 before retracing to $0.0054 at press time.

The launch wasnt without controversy. During the weekend presale, Kraken co-CEO Arjun Sethi acknowledged that some users were unable to complete their orders due to system constraints. Sethi said Kraken will airdrop tokens to affected users, purchasing them on the secondary market at a premium.

Bybit also faced complaints, initially blaming Pump.fun for an API delay before editing its statement. The exchange later announced it would issue a $20 spot fee saver to all affected users as a gesture of goodwill, though many questioned the decision, saying it felt insufficient for missing out on the presale.

PUMP is now available for spot trading and deposits across Bybit, MEXC, Bitget, Gate, KuCoin, and Hyperliquid, with the latter offering up to 5x leverage on perpetual contracts.