Track market-moving stories before they get noisy

A Solana-based KIMCHI memecoin has plunged more than 95% after a promotional post linked to crypto trader Kimchi’s X account disappeared, triggering allegations of suspicious trading and questions about Pump.fun co-founder Alon’s involvement in promoting the token.

Summary

A KIMCHI token promoted through a QR code linked to trader Kimchi’s X account crashed after the post disappeared.
Lookonchain reported that the token briefly reached a $14 million market capitalization before falling more than 95%.
Blockchain analysts flagged profitable early trading, while allegations of hacking and deliberate fraud remain unconfirmed.
Pump.fun’s daily revenue and active addresses declined during the same period, without evidence establishing a direct connection.

According to blockchain analytics firm Lookonchain, Kimchi’s account promoted a newly launched token after reportedly receiving 500 million KIMCHI tokens, while Alon reposted the announcement. Both posts subsequently disappeared, and the token’s market capitalization collapsed after briefly reaching approximately $14 million.

The controversy began when an AI-generated promotional image appeared on Kimchi’s X account, featuring a QR code directing users to a newly created token on Pump.fun. Traders quickly bought the token, while Alon’s repost drew further attention to the promotion.

Within minutes, KIMCHI reportedly climbed past a $10 million market capitalization before reaching roughly $14 million. Its subsequent decline exceeded 95%, with some market observations placing the drop closer to 99% after the promotional post disappeared.

Kimchi token crashe, source: Lookonchain/X
Market capitalization measures the estimated value of a token’s supply at the prevailing price. The reported $14 million peak therefore does not establish that investors collectively lost $14 million or that an equivalent amount of money entered the market.

Crypto trader Arez questioned the sequence, alleging that the QR code’s destination changed after the token attracted substantial trading. The trader said Alon subsequently withdrew his repost, while some buyers were left holding tokens purchased near the peak.

The incident followed recent attention surrounding Kimchi’s relationship with Pump.fun.

Lookonchain identifies over $385K in suspected trading profits
Lookonchain’s investigation identified several wallets that reportedly accumulated KIMCHI at relatively low prices before selling during the rally. The analytics firm estimated that the transactions generated more than $385,000 in combined profits.

Investigators identified three Solana addresses for examining the associated transfers. The wallet activity described by Lookonchain raises questions about trading patterns, but blockchain transfers alone do not establish who controlled the addresses or whether the traders had advance knowledge of the promotion.

A separate Bitquery investigation documented activity involving another KIMCHI launch around October 20. Its researchers identified three linked wallets that bought a newly issued token and quickly sold their holdings, generating approximately $104,000 in gains.

Bitquery explicitly stated that it could not connect those wallets to the deployer through direct transfers. Its findings concern a separately identified token and transaction sequence, so the reported profits should not be combined with Lookonchain’s estimate without matching the contracts and timestamps.

Traders demand answers over deleted KIMCHI promotion
Following the collapse, some traders accused the accounts involved of promoting an unsafe token. An X user known as tontheneko demanded refunds, arguing that Alon should have verified the promotion before sharing it with his followers.

Hello @a1lon9, I hope you immediately refund anyone who lost money on this coin.

You literally retweeted a rug pull and made hundreds of people lose money.

It was your responsibility as @Pumpfun founder to double check and confirm what you are posting with kimchi before… pic.twitter.com/3QNtkWSYA8

— ton (@tontheneko) October 22, 2026

Those accusations remain allegations, not established findings of fraud or misconduct. Neither the promotional repost nor subsequent deletion independently proves that Alon or Kimchi coordinated the trading or benefited financially from the token’s price movements.

A suspected account hack has been suggested as another explanation, although the available statements do not confirm unauthorized access. No verified refund arrangement or official finding assigning responsibility was identified.

The episode follows scrutiny of Pump.fun token survival rates, with an October Bitquery study finding that 79% of launches in its sample recorded no trading after their first day. That study covered a larger token sample and did not examine the latest KIMCHI promotion specifically.

Pump.fun revenue falls as activity declines
Meanwhile, Lookonchain highlighted a decline in activity on Pump.fun after Kimchi reportedly removed the platform’s name from his X biography. The researcher compared daily revenue of $1.61 million with $1.35 million two days later, representing a decline of approximately 16%.

Active addresses fell from 178,539 to 159,492 over the same comparison, a drop of roughly 11%. However, the timing does not demonstrate that the KIMCHI controversy caused either decline.

The DefiLlama protocol dashboard separately showed approximately $1.35 million in daily revenue and 159,492 active addresses. Its methodology distinguishes platform revenue from total fees paid by traders.

Recently, Pump.fun introduced perpetual futures trading through Hyperliquid, expanding its services beyond memecoin launches. Subsequently, the platform launched Pump Bridge to support cross-chain transactions, with its published performance figures based on testing conducted between September 28 and October 7.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Pump.fun launches EVM limit orders, supporting take-profit and stop-loss functions.

Pump.fun has launched a new crosschain trading service called Pump Bridge, which has replaced Relay as the default option for users trading across different blockchains through its mobile app.

Summary

Pump.fun has launched Pump Bridge as its default crosschain trading service. Internal tests showed that Pump Bridge processed purchases in 1.95 seconds on average, compared with 3.88 seconds for Relay. Pump.fun reported a 92% drop in buy errors, with its new service recording an error rate of just 0.9% against Relay’s 11.2%. The company said Pump Bridge delivered better execution prices and currently charges no additional bridging fees. Performance figures were based on a testing period from September 28 to October 7, covering more than 400,000 trade outcomes. In an October 22 announcement on X, the Solana-based memecoin platform said Pump Bridge processes buys nearly twice as fast as Relay, which previously handled its crosschain trades and remains in use by competing trading app FOMO.

Your crosschain trades have been slow, broken and overpriced for months.

Relay, used by Fomo & Pumpfun, has led traders to worse fills, missed trades and poor experiences. We refused to let this go on.

Introducing Pump Bridge: 2x FASTER, 12x FEWER buy errors & the BEST fills 👇 pic.twitter.com/CcDjoznreW

— Pump.fun (@Pumpfun) October 21, 2026 According to the company, the new service has reduced buy errors by 92%, while traders receive more tokens for the same amount spent. Pump Bridge currently charges no additional bridging fees, although other applicable trading costs may still apply.

The rollout follows a testing period that ended on October 7, after which Pump.fun made its own infrastructure the default route for crosschain transactions.

Pump Bridge cuts transaction times and failed buys Pump.fun said a typical buy through Pump Bridge takes 1.95 seconds to complete, compared with 3.88 seconds through Relay, based on transaction times recorded during its internal comparison.

The difference was even more noticeable among the fastest transactions, where the quickest 10% of Pump Bridge buys took 1.23 seconds against 2.75 seconds on Relay.

According to the company, 90% of buys routed through Pump Bridge completed before a typical Relay transaction, while the slowest 10% of Pump Bridge trades took more than 4.21 seconds compared with 7.36 seconds for Relay.

Relay was also found to be less reliable when it comes to processing buys, making it another area where Pump Bridge performed better, with the former recording an 11.2% buy error rate compared with just 0.9% for the latter.

Based on these figures, a trader making 10 buys daily would encounter more than one failed transaction per day on Relay on average, compared with roughly one every 11 days using Pump Bridge.

Pump.fun attributed the differences to its new infrastructure, although the results come from its own testing and have not been independently established across all trading conditions.

The company estimated that crosschain buys have a theoretical minimum completion time of approximately 1.1 seconds, accounting for network communication and destination blockchain confirmation requirements. Its fastest recorded buys came within 0.13 seconds of that estimate.

Traders received better execution prices during testing Beyond speed and reliability, Pump.fun reported that its new bridge delivered better execution prices by reducing the difference between prevailing spot prices and the number of tokens users actually received.

According to the company’s comparison, the execution gap was approximately 17% smaller on Pump Bridge than on Relay, based on completed USDC buys valued below $500.

The published figures showed a median execution gap of 3.0% on Pump Bridge against 3.6% on Relay, indicating a smaller difference between the reference market price and the final execution price.

Pump.fun estimated that someone making 10 buys worth $500 each day could save approximately $11,000 annually compared with using Relay, assuming the observed execution difference continued throughout the year.

Although Pump Bridge currently charges no separate bridging fee, Pump.fun has maintained other charges across its trading products. Pump.fun has recently introduced new trading fees for its app users, with wallets that do not have a referral code now paying 0.45% per trade.

Pump.fun said its performance figures came from a randomized experiment conducted between September 28 and October 7, during which users were assigned to either Pump Bridge or Relay within its mobile application.

The experiment covered crosschain transactions involving Robinhood, BSC, Base, Arc and Ink, with users reassigned between the two services several times throughout the testing period.

Pump.fun said it was making the underlying datasets publicly available so that outside researchers could examine its findings. The measurements concern transactions within its own application and do not establish identical performance across every service using Relay.

Pump.fun continues to branch out beyond memecoin launches Pump.fun introduced crosschain trading in May, several months before bringing the service under its own infrastructure.

Its latest product launch follows other changes to the platform’s trading services, including the introduction of perpetual futures through Hyperliquid on October 17.

The perpetual futures interface allows users to access leveraged contracts through Hyperliquid’s infrastructure, which handles order execution, margin, funding payments and settlement. Published fees reach 0.10% per order, with access restrictions applying to users in the United States and Ontario.

Meanwhile, the platform’s original memecoin launch business continues to face questions over token longevity. As crypto.news reported on October 20, a Bitquery study found that 79% of Pump.fun tokens in its sample recorded no trading after their launch day.

Pump.fun has said it will continue developing Pump Bridge to reduce transaction times further, while its published performance comparisons remain based on the September 28 to October 7 testing period.

A new Solana memecoin has hard-coded its entire creator fee stream to a single wallet, permanently. The token is $KIMCHI, launched on Pump.fun, and the address receiving those fees cannot be changed.

Pump.fun’s own profile page labels that address “Kimchi.” That name belongs to a trader who had just been announced as a Pump.fun collaborator on creative direction.

How the launch unfolded
$KIMCHI went live on October 20, 2026, at approximately 23:00 UTC. The token also goes by a second name, “Aura Final Boss.”

The deployer used an anonymous wallet with a track record of launching similar tokens. In the very first transaction, that wallet scooped up about 79.3% of the one billion token supply.

The cost was roughly 87 SOL, worth somewhere between $9,000 and $9,300.

Minutes after launch, 750 million tokens, or 75% of the supply, landed in the address labeled “Kimchi.” At the same time, the deployer named that address the fixed, unchangeable recipient of every creator fee the coin generates.

Then came the rally. Promotion tied to the trader Kimchi helped push the token’s market cap to approximately $40 million within its first hour.

On-chain analysis indicated the deployer sold most of its remaining tokens after launch. Its estimated profit came to about $26,000. Early sniping wallets reportedly walked away with even more.

Why the fee setup matters
Creator fees are Pump.fun’s way of paying whoever launches a token. On the bonding curve, the creator fee sits at 0.30% of trading volume. Once a token graduates to a PumpSwap pool, the fee ranges from 0.05% to 0.95%, depending on which market-cap tier the token occupies.

What makes $KIMCHI unusual is the permanence. The deployer did not keep the fee stream or retain the option to redirect it later. Instead, every future fee flows to the one address, with no way to reassign it.

The arrangement concentrates both a large token balance and an ongoing revenue stream in a single wallet.

The influencer playbook on Solana
The address carries the Kimchi label on Pump.fun’s profile page. The source material does not establish whether the trader set up the token, endorsed it, or controls the wallet.

What this means for traders and the platform
One address holding 75% of supply can move the price dramatically if it ever decides to sell.

Fee recipients earn from activity, not from price direction. A wallet collecting a cut of every trade profits from volatility in both directions, which can sit awkwardly beside holders who only win when the price rises.

The deployer turned roughly $9,300 into an estimated $26,000 profit, and snipers reportedly did better. Those gains came from being first to a bonding curve.

Watch the Kimchi-labeled address closely. Its 750 million tokens and its permanent claim on creator fees make it the single most important wallet in the $KIMCHI economy.

Also watch whether the token graduates to a PumpSwap pool and which fee tier it lands in. That will determine how much the fixed recipient collects as trading continues.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Nearly eight in 10 Pump.fun tokens have stopped trading after their first day, according to a study, while traders have complained about too many new coins and too few reasons to hold them.

Summary

Bitquery found 79% of Pump.fun tokens traded only on launch day.
Just 17.2% of September launches recorded a trade at least 24 hours later, Jumpbit reported.
MemeFees counted at least 21,765 launches across eight platforms on Oct. 19.
Traders complained about instant selling and fewer reasons to hold new tokens.

Bitquery, the blockchain data provider behind the finding, tracked new Solana tokens from Nov. 1, 2025, through Oct. 7, 2026. Its survival table recorded 8,984,141 Pump.fun tokens, with just 1.5% registering any trade during their fifth week and 0.2% recording at least 10 trades in that window.

Traders describing the market often complain about short holding periods, rapid selling, and a loss of the community appeal that once drew them to new coins.

Memecoin survival has remained low across launchpads
Beyond Pump.fun, Bitquery recorded launch-day-only trading for 51% of Meteora Dynamic Bonding Curve tokens and 84% of Raydium LaunchLab tokens. Only 1.9% of Meteora tokens and 1.3% of Raydium tokens were still trading in their fifth week. The study counts successful swaps, including automated trades, and discloses missing blocks and gaps involving newer trade formats.

A separate September report from Jumpbit examined 1,083,771 Pump.fun launches using dydt’s Solana trade index, following activity through Oct. 12. The research counted roughly 36,100 launches per day, with 95.1% recording at least one trade.

Jumpbit found that 17.2% had a last recorded trade at least 24 hours after launch, while 7.5% had one at least seven days later. Only 0.5% of the September launches traded during the final 24 hours of its observation period.

Under Jumpbit’s definition, a token qualifies as still trading if its last recorded transaction has occurred beyond the specified age. A creator’s first purchase counts, and continued activity can occur even when a token’s price is close to zero, per its methodology.

Daily launch counts have gaps in coverage
MemeFees recorded at least 21,765 launches across eight tracked platforms on Oct. 19. Flap.sh accounted for 10,570, followed by at least 9,284 on Pump.fun and 1,707 on Pons.

Its seven-day daily averages stood at 17,726 for Pump.fun, 11,325 for Flap.sh and 1,578 for Pons. Its Pump.fun observations also carry a plus sign because incomplete collection windows make those figures lower bounds.

Using factory-contract events, MemeFees labels its Flap.sh and Pons counts as exact for the contracts covered.

A Sep. 5 account of Pons’s launchpad activity described more than 10,000 daily deployments and $4 billion in cumulative platform volume. The historical report put the creator share at near 70% of its 1% trading fee, with creators receiving over $25 million cumulatively at that point.

DEXTools published a smaller June 29 report covering 215 fresh Pump.fun pools. Its researchers classified 24% as showing a bot-like burst, defined as at least 20 trades within 15 minutes.

The sample measured the proportion of tokens crossing an activity threshold, without calculating what share of dollar trading volume came from bots. DEXTools recorded a median of three trades per token, while 30% had no recorded trades.

Trader complaints have centered on holding incentives
One trader, identified as Mystral on X, described an environment where developers expect immediate volume and buyers expect immediate returns.

“we don’t have a shortage of coins, we have a shortage of reasons to hold them,” the trader wrote.

In a separate X post, Mystral said memecoins were losing “the feeling that a random community could turn something completely stupid into a billion dollar phenomenon.”

Bishaqs, another trader, described launchpad trading as a market for attention in which early buyers sell to later arrivals.

memecoins are a casino where the chips are your early twenties. that's the whole product and it works exactly as designed there's nothing underneath them, so stop waiting for billions. on pumpfun roughly 1 in 70 coins even makes it off the bonding curve, attention lasts about as…

— Bishaqs (@Bishaqs) October 20, 2026

As previously reported by crypto.news on Oct. 18, CoinGecko placed the memecoin category near $29.9 billion, including approximately $12.4 billion for Dogecoin and $1.6 billion for Pepe.

Early trading activity has varied between tokens
An Oct. 6 account of new memecoin launches recorded different opening trajectories for Meme Agency and PunchCard, both on Solana.

Meme Agency launched through Pump.fun on Oct. 4 and graduated that day. DexBrief figures cited in the account showed 5,390 holders, 8,070 active traders, and nearly 14,000 transactions within roughly a day, with trading volume near $965,400.

PunchCard began trading on Oct. 1. Solflare data cited in the same account put its price as high as $0.00019527 early on Oct. 2, before it traded near $0.000045 on Oct. 6, when its market capitalization stood around $43,900.

Jumpbit’s September study classified 116,714 launches, or 10.8%, as graduated because they had a PumpSwap pool.

As NVIDIA GTC draws near, a large crypto whale has opened a new short position worth $12.61 million in NVDA.

Nvidia’s GTC Berlin conference will be held from October 20 to 22. Jensen Huang is scheduled to deliver a keynote speech from 17:00 to 19:00 Beijing time. Earlier, Nvidia announced plans to invest in four German startups as part of its nearly $10 billion European investment commitment. According to TradingBeats’ monitoring, against this backdrop, a crypto whale opened a large short position with an average entry price of $218.078. The current position is valued at approximately $12.61 million, with an unrealized profit of around $86,600 (0x4e23).

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Pump.fun has rolled out support for perpetual futures (perps) for crypto assets including Bitcoin and Ethereum. The offerings also span RWA (real-world assets) perps covering the S&P 500, oil, and other U.S. stocks with up to 50x leverage, powered by Hyperliquid. 

Neither the platform nor its leadership has officially announced the update as of press time. However, the new perps feature is already live for trading. 

Source: Pump.fun Pump.fun will join a growing list of super-apps and wallets (Phantom, MetaMask, Rabbit Wallet, etc.) that are using Hyperliquid to offer leveraged trading across various asset classes. 

This marks a significant milestone and evolution for Pump.fun as it expands beyond just a Solana-based memecoin launchpad to include a DeFi platform and self-custody wallet. So, will the expansion boost PUMP and HYPE tokens? 

Will Hyperliquid integration boost PUMP and HYPE? Analysts are generally optimistic that the update will be net positive for both tokens. Such integrations are expected to increase users, trading volumes, and eventually, revenues for each protocol involved. 

In fact, Blockworks analyst Shaunda Devens billed it as a “monetization potential.”

PumpFun enabling perps through Hyperliquid is an example of the monetization potential you have when you move from pure infra (launchpad<>DEX) to owning the user as well (mobile<>terminal).

So far, Phantom, MetaMask, Trust Wallet, and Fomo are already generating $370K-$430K in weekly revenue. That’s over $22M in annualized revenue for only these three platforms. 

Assuming Pump.Fun pulls such a massive adoption scale, that’s over $20M in potential revenue. And since 50% of Pump.Fun revenue goes to PUMP buyback, it could boost the token’s value. 

Similarly, routing users to Hyperliquid translates to more volume and base protocol fees. With Pump.Fun bringing a new pipeline of traders, Hyperliquid will benefit in the long run too. 

Interestingly, Hyperliquid uses over 97% of its revenue for HYPE buybacks. So, any incremental revenue will likely scale HYPE value, especially during risk-on periods. 

In fact, DeFiLlama painted a similar picture. In 2026, HYPE’s price rally from $40 to over $80 was fueled by rising perp volume and revenue. Any brief corrections correlated with a slight dip in volume and revenue.     

Source: DeFiLlama  That said, PUMP has seen a 34% correction over the past few days. It broke below some key moving averages, which flipped its market structure bearish. 

However, whether the Hyperliquid integration will enable buyers to defend the next support zones at $0.003 and $0.004 remains to be seen. 

Source: PUMP/USDT, TradingView Final Summary Pump.fun launched crypto and RWA perps with up to 50x leverage powered by Hyperliquid. Integration could boost Pump.Fun traction and revenue, but it’s unclear if it can help reverse the 34% pullback in October.

Pump.fun’s new Hyperliquid integration brings leveraged perpetuals trading to the memecoin crowd.

Pump.fun isn't just a memecoin launchpad anymore. The platform has switched on leveraged perpetual futures trading inside its app, and it's leaning on Hyperliquid for the heavy lifting.

What's the Scoop?
The plumbing: Pump.fun plugs in through Hyperliquid's builder codes, a setup that lets outside apps pipe user orders into Hyperliquid's books and pocket a cut of the fees. Hyperliquid's HyperCore engine does the matching and runs liquidations.

The leverage: Early reports put max leverage at 40x on BTC and 25x on ETH. The perps are off-limits in the U.S. and Ontario.

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Background prep: Perps data first surfaced in Pump.fun's API around Oct. 9th, and the launch follows the platform's HyperEVM spot trading integration in August.

Interesting timing: Pump.fun briefly out-earned Hyperliquid on a weekly basis in late September. Now it's routing its traders straight into Hyperliquid's order books, a neat snapshot of the builder-code era, where frontends and venues can be rivals and partners at once.

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Pump.fun built its name as the place where memecoins are born. Now it wants a piece of the leveraged trading business, too.

A post on X announced that Pump.fun is launching crypto perpetual futures trading powered by Hyperliquid. API data shared around October 9, 2026, shows the platform pulling funding rates and open interest for BTC and ETH perpetuals directly from Hyperliquid’s HyperCore mainnet.

What Pump.fun is actually plugging into
Perpetual futures are a type of derivative contract. They let traders bet on an asset’s price without owning it, and with no expiration date.

The funding rate is a periodic payment between long and short traders that keeps the contract price tethered to the real market price. Open interest measures how many contracts remain open at a given time.

Both figures are being sourced from HyperCore, Hyperliquid’s core trading layer. Rather than building its own derivatives engine from scratch, Pump.fun is borrowing Hyperliquid’s order book and liquidity.

The leverage on offer is substantial. According to the research findings, traders can access up to 40x margin on BTC and 25x on ETH.

A partnership that has been building for months
This is not Pump.fun’s first integration with Hyperliquid’s stack. On August 26, 2026, the platform added support for HyperEVM, Hyperliquid’s smart contract environment, enabling USDC-denominated spot trading with near-zero fees.

Hyperliquid’s perpetual market recorded $12.43 billion in daily trading volume in late August 2026. That is the liquidity pool Pump.fun users will effectively be tapping.

By early October 2026, Pump.fun had surpassed Hyperliquid in 30-day revenue.

Background: from memecoin factory to trading venue
Pump.fun launched in January 2024 as a memecoin launchpad, becoming a central hub in the memecoin sector.

Rival platform FOMO introduced Hyperliquid-based perpetuals trading in June 2026, broadening the range of assets its users could trade. Pump.fun is entering a lane a competitor already occupies.

What this means for traders and the platforms
Hyperliquid is becoming backend infrastructure for consumer-facing crypto apps. FOMO uses it. Pump.fun now uses it for both spot and perpetuals.

The risks deserve equal billing. Leverage of 40x on BTC and 25x on ETH can turn modest price swings into total losses. Liquidation on a leveraged position is a different and less forgiving experience than spot trading.

There is also concentration risk at the infrastructure level. If multiple consumer platforms rely on HyperCore for pricing and execution, any disruption on Hyperliquid could ripple across all of them at once.

Key metrics to track from here include open interest on Pump.fun’s perpetual markets, whether its 30-day revenue lead over Hyperliquid holds, and how FOMO responds to a larger rival entering its lane.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Pump.fun has expanded beyond memecoin trading by introducing crypto perpetual futures powered by Hyperliquid’s decentralized trading infrastructure. The integration enables eligible users to trade leveraged cryptocurrency contracts on Pump.fun with liquidity provided by Hyperliquid.

Pump.fun Adds Bitcoin and Ethereum Perpetual Futures The Solana-based platform has introduced perpetual futures trading, with Bitcoin (BTC) contracts offering up to 40x leverage. Traders can trade on Ethereum (ETH) contracts with up to 25x leverage without owning the underlying assets themselves.

The development comes after the discovery of perpetual trading data in Pump.fun’s application programming interface on October 9. The data included funding rates, open interest, and trading volumes sourced from Hyperliquid’s HyperCore mainnet.

Pump.fun uses Hyperliquid’s existing order books rather than developing a separate derivatives trading system. This enables trades to use the liquidity of Hyperliquid while the user interacts with the Pump.fun interface.

The growth comes after previous progress from Hyperliquid on its perpetual futures platform, such as its ongoing work on bringing commodity futures to regulated U.S. markets.

Hyperliquid Infrastructure Supports Derivatives Trading As part of the integration, HyperCore will take care of order matching, margin balances, funding payments, and liquidations. According to the terms of the platform, the operations are handled by Hyperliquid, and Pump.fun offers the trading interface.

The partnership is based on an existing link between the platforms. In August, the Solana-based platform added support for HyperEVM so that USDC can be used to trade spot transactions in Hyperliquid’s smart contract environment.

At the end of August, Hyperliquid saw about $12.43 billion in daily perpetual futures trading volume. Its existing liquidity allows Pump.fun to offer derivatives without establishing an independent order book.

The development comes on the heels of Hyperliquid’s derivatives growth that has helped prop up trading fee income and its ongoing HYPE token acquisitions via its Assistance Fund.

However, leveraged trading carries liquidation risks, and traders can lose their entire posted collateral during sharp market movements. Pump.fun restricts perpetual futures access in the United States, Ontario, and other prohibited jurisdictions.

Pump.fun Expands Trading Services Beyond Memecoins Pump.fun entered perpetual futures after building its business around Solana-based memecoin launches and trading. The new product introduces derivatives alongside its existing spot trading services.

The platform has competed with Hyperliquid in protocol revenue during 2026, although their primary products serve different trading markets. In late September, Pump.fun overtook Hyperliquid in weekly revenue, generating $15.16 million against Hyperliquid’s $15.06 million.

Pump.fun can now earn additional fees from derivatives activity, while Hyperliquid receives trading orders through another interface. However, despite the launch, Pump.fun (PUMP) has fallen 5.35% over the past 24 hours to trade at $0.004320.

Pump.fun [PUMP] has corrected by 25.8% in the past nine days and has experienced a 12.68% decline in the past 24 hours as of writing. This decline came alongside a Bitcoin [BTC] price slide below $83k, but there were other factors affecting PUMP token sentiment.

Pump.fun faces 6.57M sandwich bot attacks Blockchain data provider Bitquery published data on the vast number of sandwich attacks on Solana [SOL]. Between the 30th of October, 2025, and the 7th of October, 2026, they counted 6.85 million sandwich attacks made by 2,545 bot wallets against 2,154,994 different wallets.

A sandwich bot profits by buying a token just before a user’s trade and selling immediately afterward, exploiting slippage to earn $29.7 million from traders’ worse execution prices.

Notably, 96% of the detected attacks were on the Pump.fun platform, where most new Solana memecoins start trading. The bots took 309,010 SOL, 39% of which was from other rival bots. The $29.8 million estimate was computed using the SOL price at the minute of the attack and does not measure net profit (since some attacks lose money after costs).

The findings likely damaged user trust and could have a bigger impact on PUMP token prices in the future.

PUMP remains inside a steady uptrend Source: PUMP/USDT on TradingView PUMP has been trending higher in recent weeks, starting in early August when the $0.00225 swing high was breached. The A/D indicator has been steadily rising since the second half of August.

The CMF also had a couple of weeks where the indicator’s values were consistently around +0.20 to signal heavy capital inflows. This demand helped the altcoin rally to $0.0054 and $0.0068.

The retracement in the past nine days was within this uptrend. The golden pocket between $0.0041 and $0.0047 could be a buying opportunity for swing traders and investors.

Final Summary Sandwich attacks on Solana measured over 11 months found $29.7 million in SOL extracted over 6.85 million sandwich attacks, 96% of which occurred on the Pump.fun platform. The PUMP token price was in a retracement over the past two weeks alongside the broader market selling pressure.

Pump.fun co-founder Alon announced in a post that several major adjustments will be made to the Callout Rewards program in the coming days, with some changes set to take effect starting from today’s reward distribution. The adjustments include reducing the reward weight for callouts on low-market-cap tokens; trading volume will no longer be the primary factor determining rewards, as the focus shifts to the actual profits of followers. Going forward, if relevant participants fail to consistently help followers generate profits, their chances of earning rewards will be significantly reduced.

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Pump.fun is changing how it pays people to recommend tokens. Starting with the October 10 payout, callouts on low-cap tokens will earn less, according to co-founder Alon.

The bigger change is in what gets measured. Rewards will now track whether followers actually benefited from a recommendation, not how much trading volume the call generated.

What changed in Callout Rewards Alon announced the update in a post on X. Under the revised model, callers who steer followers into profitable trades are the ones who get rewarded.

Until now, the program favored callouts that drove trading activity. That approach has a familiar flaw. Volume rewards the person making the call whether the trade goes well or badly for the people who followed it.

Alon framed the goal as spreading the gains more widely. The idea is to create broader “wealth effects” instead of letting most profits flow to a small group of skilled traders. Under the new structure, creators earn by guiding their followers into successful trades.

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Low-cap tokens take the most direct hit. Recommendations on smaller tokens will be rewarded at a reduced rate. These are the assets where thin liquidity can leave late followers holding the bag.

A program still finding its footing Callout Rewards launched around August 2026 with an approximate budget of $15 million set aside for payouts.

The October 10 change is the second adjustment in under a week. On October 4, Pump.fun scaled back rewards for users who post callouts at high frequency. The aim was to cut spam and improve the quality of what shows up in people’s feeds.

The program’s design is meant to be open to everyone. High-profile accounts and accounts with only a handful of followers can both earn rewards, including accounts with fewer than 10 followers. Pump.fun says no account gets preferential treatment.

Eligible participants are paid daily in USDC, a dollar-pegged stablecoin. The amount each person receives comes from a methodology the company has not disclosed. Pump.fun also reserves the right to change that methodology without notice.

One practical wrinkle: historical leaderboard data does not reflect the most recent algorithm updates. Anyone comparing past rankings to future ones should keep that in mind, since the scoring rules underneath have shifted.

What this means for callers and followers For callers, the incentive math has flipped. Under a volume model, the best strategy was to post often and push tokens that would move a lot of money quickly. Under a profit model, the best strategy is to post less and pick better.

The cut to low-cap token rewards matters too. Smaller tokens are often where coordinated pumps do the most damage. A caller can promote a thinly traded token, followers rush in, and the price swings sharply before early buyers exit. Reducing payouts for those calls removes some of the financial fuel behind that pattern.

There are open questions. Measuring whether followers “benefited” is harder than measuring volume. Profit depends on when someone buys and when they sell, and followers do not all act at the same moment. Pump.fun has not published its exact methodology, so outsiders cannot yet judge how it defines a successful callout.

The undisclosed formula cuts both ways. Keeping the details private makes the system harder to game, since callers cannot easily reverse-engineer the scoring. It also makes it harder for participants to know what they are being paid for, and the methodology can change without warning.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Baton Coin (BATON), Solana ekosisteminde yer alan ve Pump.fun platformunun geçmişine gönderme yapan bir meme coindir. Proje, Pump.fun’ın ilk dönemlerinde kullandığı Baton ismini yeniden gündeme taşıyarak bu ismi bir köpek karakteri üzerinden blokzincir dünyasında yaşatmayı amaçlar. BATON, teknik bir altyapı çözümü veya belirli bir finansal hizmet sunan token olmaktan ziyade, internet kültürüne, meme topluluklarına ve kripto para tarihine dayanan bir projedir.

Baton’un hikâyesini diğer meme coinlerden ayıran temel unsur, Pump.fun ile kurduğu tarihsel bağlantıdır. Solana ağında meme coin üretimini ve piyasaya sürülmesini kolaylaştıran Pump.fun, bonding curve mekanizmasıyla çok sayıda tokenın oluşturulmasına öncülük etti. BATON ise platformun bugünkü kimliği ortaya çıkmadan önceki ismine odaklanarak bu geçmişi topluluk odaklı bir meme coin anlatısına dönüştürür.

Projenin yaklaşımı oldukça basittir: BATON bir teknoloji tokenı, haber tokenı veya karmaşık bir kullanım alanına sahip dijital varlık olarak konumlandırılmaz. Bunun yerine, elinde cop bulunan bir köpek karakteri üzerinden mizah, topluluk kültürü ve Pump.fun ekosistemiyle bağlantı kurar. Projenin temel fikri, bu karakteri ve temsil ettiği geçmişi blokzincir üzerinde kalıcı hâle getirmektir.

Baton Coin Hikâyesi Ve Pump.fun İle Bağlantısı Baton Coin’in ortaya çıkışını anlamak için Pump.fun’ın ilk dönemlerine bakmak gerekir. Pump.fun, Solana ağı üzerinde kullanıcıların kendi tokenlarını kolayca oluşturmasına ve işlem görmeye başlamasına imkân tanıyan bir platform olarak öne çıktı. Platformun yaygınlaşmasıyla birlikte meme coin üretimi, kripto para piyasasının dikkat çeken faaliyetlerinden biri hâline geldi.

Ancak Baton anlatısının merkezinde Pump.fun’ın bugünkü adı değil, platformun daha önce kullandığı Baton ismi bulunur. Projenin kendi anlatımına göre Baton, NFT staking protokolü olarak başlayan ve daha sonra meme coinlerin piyasaya sürülmesine odaklanan bir yapıyla ilişkilidir. Ardından platform, bugün bilinen Pump.fun markasına geçiş yaptı.

Bu tarihsel bağlantı, BATON’un temel hikâyesini oluşturur. Proje, platformun geçmişteki ismini yalnızca hatırlatmakla kalmayıp onu bir meme karakteri aracılığıyla yeniden yorumlar. Böylece Baton adı, geçmişte kalmış bir marka unsurundan çıkarılarak topluluk tarafından sahiplenilebilecek bir kripto para anlatısına dönüştürülür.

Burada önemli bir ayrım bulunur: BATON, Pump.fun platformunun kendisiyle aynı şey değildir. Pump.fun, token oluşturma ve işlem süreçleriyle ilişkilendirilen bir platformken BATON, bu platformun geçmişine atıfta bulunan bağımsız bir meme coin projesi olarak ele alınmalıdır. Bu tarihsel ilişki, iki yapının aynı hukuki veya ekonomik varlık olduğu anlamına gelmez.

Baton Coin (BATON) Ne Amaçlıyor? BATON’un temel amacı, karmaşık bir teknolojik problemi çözmekten çok, belirli bir internet ve kripto para kültürünü temsil etmektir. Proje, Pump.fun’ın gelişim sürecinde geride kalan Baton ismini yeniden gündeme getirerek bu isme ait hikâyeyi topluluk kültürü üzerinden sürdürmeyi hedefler.

Bu yaklaşım, meme coin piyasasında sıkça karşılaşılan bir modele dayanır. Bazı projeler merkeziyetsiz finans, blokzincir altyapısı veya uygulama geliştirme gibi alanlarda belirli işlevler sunarken bazıları mizah, karakter tasarımı, topluluk etkileşimi ve internet kültürü üzerinden şekillenir. BATON ikinci grupta yer alır.

Projenin öne çıkardığı unsurlar şunlardır:

Tarihsel anlatı: Pump.fun’ın önceki Baton ismini temel alması. Meme kültürü: Elinde cop bulunan köpek karakterini projenin merkezine yerleştirmesi. Topluluk odaklılık: Teknik işlevlerden çok karakterin ve hikâyenin etrafında bir kimlik oluşturması. Pump.fun ekosistemiyle bağlantı: Solana üzerindeki meme coin üretim kültürüne atıfta bulunması. Basit konumlandırma: Tokenın belirli bir teknoloji hizmeti sunma iddiası taşımaması. Bu özellikler, BATON’un değer önerisinin büyük ölçüde anlatısına ve topluluk ilgisine bağlı olduğunu gösterir. Dolayısıyla projenin benimsenmesi, geleneksel bir yazılım projesinde olduğu gibi yalnızca teknik performans üzerinden değerlendirilemez.

Baton Coin Bir Meme Coin Mi? Evet. Projenin kendi açıklamasına göre BATON, işlevsel bir teknoloji tokenından ziyade bir köpek temalı meme coindir. Projenin tanıtımında sıfır kullanım alanı, tamamen köpek karakteri üzerine kurulu bir kimlik ve derin bir hikâye vurgulanır. Bu yaklaşım, tokenın öncelikli amacının belirli bir hizmetin kullanımını sağlamak olmadığını ortaya koyar.

BATON’un karakteri, elinde cop tutan ve hem tehditkâr hem de sevimli bir görünüme sahip köpek figürü etrafında şekillenir. Projenin mizahi anlatımı, bu karakteri yalnızca görsel bir unsur olarak değil, tokenın kimliğini oluşturan temel sembol olarak kullanır.

Meme coinlerde bu tür semboller, toplulukların ortak bir kimlik geliştirmesine yardımcı olabilir. Bir karakterin kolay tanınması, sosyal medyada paylaşılabilmesi ve belirli bir hikâyeyle ilişkilendirilmesi, projenin görünürlüğünü artırabilir. Bununla birlikte, görünürlük ve topluluk ilgisi kalıcı talep veya fiyat artışı garantisi sunmaz.

BATON’un teknik kullanım alanının bulunmaması da yatırım değerlendirmesinde dikkate alınmalıdır. Tokenın değerini destekleyebilecek unsurlar, öncelikle topluluk katılımı, piyasa likiditesi, işlem talebi ve Pump.fun anlatısına gösterilen ilgi gibi değişkenlerdir. Bunların hiçbiri tek başına sürdürülebilir değer oluşacağını garanti etmez.

Proje Nasıl Çalışır? BATON’un çalışma mantığı, belirli bir yazılım hizmetine erişim sağlamaktan ziyade Solana üzerindeki token alım satım mekanizmalarına dayanır. Tokenın alınıp satılabilmesi, kullanılan piyasa ve likidite altyapısına bağlıdır.

Pump.fun ekosisteminde bonding curve modeli, yeni tokenların ilk aşamadaki fiyat oluşumunda kullanılan mekanizmalardan biridir. Bu modelde token fiyatı, akıllı sözleşmede tanımlanan eğri ve gerçekleşen işlemler doğrultusunda değişebilir. Bir tokenın işlem görmesi ve likiditesinin gelişmesi, piyasadaki alım satım talebiyle yakından ilişkilidir.

Bununla birlikte, BATON’un Pump.fun ile tarihsel bir anlatı üzerinden ilişkilendirilmesi, tokenın Pump.fun platformunun resmî tokenı olduğu anlamına gelmez. Projenin kendi internet sitesinde de Pump.fun ile kurumsal bir bağlantısı bulunmadığı belirtilir. Dolayısıyla BATON’u platformun yerel tokenı veya platform gelirlerine hak kazandıran bir varlık olarak değerlendirmek doğru değildir.

BATON’un fiyatı; alıcı ve satıcıların davranışları, likidite derinliği, işlem hacmi ve projeye yönelik ilgi gibi faktörlerden etkilenebilir. Meme coin piyasasında bu değişkenler kısa sürelerde önemli ölçüde farklılaşabilir.

Baton Hangi Ağda Yer Alıyor? BATON, Solana ekosistemiyle ve Pump.fun platformuyla ilişkilendirilen bir meme coin olarak tanıtılır. Solana, hızlı işlem gerçekleştirme kapasitesi ve görece düşük işlem maliyetleri sayesinde meme coin projelerinin yoğun olarak faaliyet gösterdiği blokzincir ağlarından biridir.

Pump.fun da Solana ekosisteminde token oluşturma ve piyasaya sürme süreçleriyle tanınır. Bu platformun bonding curve tabanlı modeli, yeni tokenların ilk aşamadaki fiyat oluşumunu ve alım satım mekanizmasını belirleyen sistemlerden biridir. BATON’un hikâyesi bu ekosisteme dayansa da tokenın belirli bir platformda anılması, otomatik olarak o platform tarafından resmen desteklendiği anlamına gelmez.

BATON satın almak isteyen kullanıcıların doğru tokenı belirlemek için güncel sözleşme adresini doğrulaması gerekir. Aynı veya benzer isimleri kullanan tokenlar farklı adreslerde bulunabilir. Yalnızca token adı, sembolü veya sosyal medya paylaşımları üzerinden hareket etmek, yanlış varlığın satın alınması riskini doğurabilir.

Baton Coin Tokenomics: Arz Ve Dağılım BATON’un token ekonomisi, projenin teknik bir kullanım alanından çok meme kültürüne odaklanan yapısıyla uyumludur. Projenin tanıtım sayfasında toplam arz, işlem ücretleri ve likidite havuzunun durumu hakkında üç temel bilgi paylaşılır.

Token adı: Baton Sembol: BATON Blokzincir ekosistemi: Solana Toplam arz: 1 milyar BATON İşlem ücreti: Yaklaşık %1 olarak belirtiliyor Likidite: Toplam arzın havuzda bulunduğu belirtiliyor Likidite sağlayıcı tokenları: Yakıldığı ifade ediliyor

Resmi Bağlantılar Website X (Twitter) Son Dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

Pump.fun [PUMP] breached the $0.006 support and was trading around $0.0055, down 7.2% on the daily charts, at press time. Over the same period, the altcoin’s trading volume dropped 20% to $427 million, reflecting a slowdown in market activity.

PUMP’s long liquidations exceed $5M Pump.fun‘s price drop pushed many bulls out of the market. CoinGlass data showed that $5.09 million worth of long positions were liquidated.

Usually, higher long liquidations add selling pressure to an already falling market, causing further price declines. This can trigger a cascade of liquidations.

At the same time, increased liquidation risk can cause a shift in sentiment, forcing traders to panic-close their positions.

In fact, this market behavior was widely observed over the past 24 hours. PUMP’s futures recorded $445 million in outflows compared to $418 million in inflows.

Source: CoinGlass As a result, Futures Netflow dropped 98% to -$27 million. The negative Netflow suggested that more capital flowed out of the futures market than entered it, potentially reflecting traders closing positions to cash out or avoid further losses.

Spot sellers are not left behind On the Spot side, selling pressure was even more intense. According to Coinalyze data, the altcoin recorded 11.4 billion in Spot Sell Volume compared to 10.8 billion in Buy Volume.

Source: Coinalyze As a result, the Buy Sell Delta fell to 600 million, reflecting strong spot selling pressure. Exchange activity is also recorded for this selling activity, especially over a 12-hour timeframe. 

Over this period, PUMP saw $11.47 million in Spot inflows compared to $9.8 million in outflows. Moreover, Spot Netflow rose 148% to $1.6 million, a significant reversal from $1.6 the previous day. 

Historically, intense selling pressure has preceded further market weakness, leading to lower prices.

Can PUMP withstand the selling pressure? Structurally, PUMP has been weakened by intense market pressure. Notably, the MACD formed a bearish crossover and dropped to 0.00005 as of writing.

The crossover confirmed increasing selling pressure and strengthening downside momentum as buyers lost control.

Source: TradingView Likewise, the Stochastic Momentum Index (SMI) dropped to 22, reinforcing the bearish outlook.

These indicators point to a strengthening downtrend and a potential continuation. Thus, if the bearish pressure seen on the daily charts persists, we could see PUMP drop below $0.005 toward $0.0046.

However, if reduced leverage eases market volatility, the altcoin could hold above $0.005 and potentially reclaim $0.006.

Final summary Pump.fun declined 7%, breached the $0.006 support, and fell to a low of $0.0052 amid intense selling pressure PUMP’s price drop triggered over $5 million in liquidations on the long side. 

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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37 minutes ago

Pump.fun has announced an update to its Custom Pairs feature. Previously, new tokens could only be paired with tokenized stocks or whitelisted tokens, but now they can be paired with any token issued on the platform that is either still on a bonding curve or has graduated to PumpSwap. Tokens that have graduated to Raydium and are not on the whitelist are not currently supported, with exceptions for whitelisted projects like Fartcoin. The official stated that derivative trading of past popular tokens was siphoning attention and liquidity. Under the new mechanism, when purchasing a new token paired with an existing one, funds will first be converted into the paired token before buying the new token, thereby generating buy pressure and deeper liquidity for the original token pool. Currently, pairing depth is limited to one layer, and the pairing relationships of already listed tokens cannot be modified. The platform has also adjusted the fee calculation for multi-hop swaps to prevent fees from stacking up.

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4 hours ago

According to Lookonchain monitoring, Pump.fun sold an additional 102,495 SOL tokens 8 hours ago, valued at roughly $12.41 million. Data indicates that Pump.fun has cumulatively sold 5,347,925 SOL tokens, totaling about $861 million in value, at an average selling price of approximately $161 per token. The current price of SOL stands at around $120.07.

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DWF Labs Partner: If Trump wins the midterm elections and distributes $5,000 to every adult, the crypto market may usher in a bull market.

DWF Labs Managing Partner Andrei Grachev stated that if Donald Trump wins the midterm elections and disburses $5,000 to every U.S. adult, the scale would reach 150% of the COVID-19 era’s "helicopter money" program. He noted that a portion of these funds would inevitably flow into the crypto market, potentially triggering a bull run comparable to the 2021 rally. However, Grachev warned that investors should take profits during such a rally, as a crisis could follow. Earlier reports had noted Trump’s renewed pledge: if Republicans secure control of both the House of Representatives and Senate in the midterms, he will issue a $5,000 "dividend" to every adult U.S. citizen. Based on an estimated 240 million U.S. adults, the plan would cost roughly $1.2 trillion, making it one of the largest economic stimulus measures in the U.S. since the COVID-19 pandemic.

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Hyperliquid has earned its first USDC reserve revenue of $14.58 million, with an annualized run rate of roughly $193 million at current scale.

Hyperdash co-founder Hans published a post noting that Hyperliquid’s AQAv2 mechanism has established a new revenue stream. On October 3, the AQAv2 treasury wallet completed its first payment of $14.58 million for the USDC reserves held by the trading platform over the prior 30 days. The funds will be allocated to an assistance fund for purchasing HYPE. Under the mechanism, after users bridge USDC to Hyperliquid, Circle mints the corresponding assets on HyperEVM, and charges fees on the treasury balance daily, with settlements occurring every 30 days. Coinbase and Circle each staked 500,000 HYPE; if payments are delayed, Coinbase could lose 2% of its staked amount per day. Hans added that Hyperliquid’s previous revenue was primarily derived from trading fees, while AQAv2 enables the platform to earn income directly from margin deposits themselves, regardless of whether the associated funds are used for trading. The first payment covers the period from August 26 to September 24, with an implied average rate of roughly 3.14%. At current scale, annualized revenue is estimated at approximately $193 million. From January 1 to September 30 this year, Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion, and platform margin increased from $4.34 billion to $7.22 billion. Over the same period, perpetual contracts recorded around $2 trillion in total trading volume, generating $493.3 million in fees for the protocol, equivalent to roughly 2.46 basis points per dollar of trading volume. Using this year’s average trading speed and current AQAv2 rate, every $1 of margin contributes about 15.4 cents in annual revenue to the protocol, split into ~12.5 cents from trading fees and ~2.8 cents from AQAv2. Hans projected that under the baseline scenario of stablecoin volume growing 20% annually and Hyperliquid retaining its current ~8.7% market share, the protocol’s annual revenue could rise from the current ~$1.11 billion to $2.4 billion by the end of 2030.

4 minutes ago

Cronos Token Economy Proposal Passes: 228 Million CRO Burned, All Revenue From Ult and Cronos Launch to Be Allocated for Buyback and Burn

Cronos Network announced that two token economic proposals have been approved, with 228 million CRO from its community pool burned, bringing the total cumulative CRO burn to 428 million. Under the passed proposals, all future revenue from Ult and Cronos Launch will be allocated to repurchase CRO on the open market, which will then be burned monthly, and all related transaction hashes will be made public.

4 minutes ago

A Bitcoin whale has placed a $10.27 million long bet on Bitcoin, targeting a rebound, at an average entry price of $84,918.9.

According to on-chain analyst Ai Yi (handle @ai_9684xtpa), address 0x799…15f4c opened its first position on Hyperliquid, betting on Bitcoin (BTC)’s rebound with 7x leverage. The address initiated a long position of 121.23 BTC in the early hours of today, with the position valued at approximately $10.27 million, an average entry price of $84,918.9, and is currently facing an unrealized loss of around $20,000.

4 minutes ago

Ansem: PUMP can be valued using Layer 1 (L1) logic, and he is optimistic that pump.fun will emerge as a super app in this cycle.

Crypto trader Ansem noted that the market has not yet fully priced in pump.fun’s evolution into a Layer 1 (L1)-like underlying infrastructure, where other token-launching platforms could directly build in the future. Few are currently focused on the creator fee splits pump.fun pays to token creators: the ratio is nearly 1:1 relative to the platform’s revenue, meaning for every ~$500 million the platform generates, token creators receive roughly $500 million in creator fees after their tokens complete the bonding curve phase, giving teams strong incentives to build products on pump.fun. He believes this economic structure may be superior to that of traditional L1s, as pump.fun can collect fees from every layer of token-launching platforms and each token they issue. With the rollout of features like custom trading pairs and Callout Rewards, the market may gradually start valuing PUMP in a manner similar to Layer 1 assets. He also expressed strong optimism about the investment thesis that pump.fun will develop into a "super app" in this cycle.

4 minutes ago

Whales accumulate $PUMP: netherlol buys 383.34M after 1 year, new wallet withdraws 189.22M from MEXC

Whales are buying $PUMP. "netherlol" bought 383.34M $PUMP ($2.4M) after more than a year. A newly created wallet, GnZqfY, withdrew 189.22M $PUMP ($1.18M) from #MEXC 7 hours ago.

4 minutes ago

Following a weak jobs report, the broader crypto market was hit hard as investors rushed to reduce exposure. Amid this shift in sentiment, Pump.fun’s [PUMP] downside pressure intensified.

As a result, PUMP faced rejection at $0.0061 and fell to $0.0054 at press time. Over the same timeframe, the altcoin’s trading volume climbed 55% to $605 million, indicating higher sell-side activity.

PUMP long liquidation exceeds $8M The price drop left longs bleeding. According to Lookonchain, two major traders were liquidated. These traders had opened a long position on 707.6 million PUMP worth $3.61 million.

The liquidation wave extended beyond just two major traders. According to CoinGlass data, PUMP saw over $8.3 million in longs liquidated, compared to $0.7 million in shorts.

Often, prolonged squeezes strengthen downside momentum, leading to even more losses on the charts.

Amid this rising liquidation risk, traders panicked and rushed to close their positions. The altcoin Futures saw $385 million in outflows compared to $374 million in inflows.

Source: Coinglass As a result, the Futures Netflow declined by 237% to -$10.7 million, a clear sign of aggressive selling.

Historically, intense selling pressure combined with higher liquidation risks has weakened the market structure, leading to further declines.

Can spot demand help absorb the pressure? Interestingly, despite the price drop and intense pressure from the derivatives market, spot traders have held steady.

On this side, buyers have turned stubborn, and the drop seems to have encouraged them to buy some more. Coinalyze data showed that Spot Buy Volume has outpaced Spot Sell Volume for three consecutive days.

Source: Coinalyze On the 2nd of October, as the market dropped, Buy Volume rose to 25.5 billion compared to 24.6 billion in Sell Volume. 

With buyers holding here, they could likely absorb the pressure and help the market recover from the slip.

What do momentum indicators say? Structurally, the market still leans bullish. In fact, PUMP has been making higher lows while respecting the rising support.

Despite the pullback, the structure is yet to break down. At the time of writing, the MACD was on an upward trajectory.

Source: Tradingview The same case applies to the Relative Strength Index (RSI), which was deep in the bullish zone around 62.

Taken together, the MACD and RSI suggest buyers are still in control of the market. If the spot-buying pressure holds, it could absorb downside pressure and help PUMP reclaim $0.006.

However, if sellers in the derivatives market continue at the current pace, PUMP will struggle to hold $0.005 and is likely to drop to $0.0046.

Final summary PUMP faced rejection at $0.0061 and fell 9%  to a low of $0.00509, driven by intense selling pressure.  The price drop triggered a long squeeze, with $8.3 million worth of longs liquidated.

Pump.fun price has recovered toward $0.00584 after an intraday drop to $0.005383 on Oct. 1, putting the $0.006 resistance level back in focus as traders watch whether PUMP can extend its late-September rally.

Summary

Pump.fun price traded near $0.005839 after recovering roughly 8.5% from its daily low. Daily Aroon readings stood at 100% for the upward line and 0% for the downward line. Crypto With Gopal identified a bullish flag with a conditional target near $0.00740. CoinGlass showed a prominent liquidation cluster around $0.00587, just above the latest price. TradingView’s Binance daily chart placed PUMP at $0.005839, down 1.45% from the session’s opening price of $0.005925. The token reached a daily high of $0.006097 before falling to $0.005383 and recovering much of that decline.

The daily high stood about 13.3% above the low, showing the size of the session’s price swings. By the chart’s latest reading, PUMP remained approximately 4.2% below that high, with buyers bringing the token back toward the area where its earlier advance stalled.

PUMP recovery brings $0.006 back into focus The TradingView chart showed PUMP climbing from a mid-September base around $0.0035 to prices above $0.006 at the start of October. The advance followed an earlier August rally and a September correction, leaving the token near the upper end of its recent trading history.

At $0.005839, PUMP stood roughly 67% above the $0.0035 area. The latest daily decline therefore came after a substantial recovery, rather than a return to the lows that preceded the rally.

The immediate price test sits around $0.006, followed by the session high of $0.006097. PUMP briefly traded above the round-number level during the day but had moved back below it by the latest chart reading.

TradingView’s daily Supertrend remained green at $0.003960, well below the market price. PUMP traded approximately 47% above that indicator level, leaving a wide gap between the current consolidation and the daily Supertrend reference.

Pump.fun price daily chart — Oct. 1 | Source: TradingView The daily Aroon indicator also retained upward readings. Aroon Up stood at 100%, while Aroon Down measured 0%, placing the most recent period high at the end of the indicator’s lookback window.

Together, the daily chart readings showed that PUMP’s pullback had occurred while its Supertrend and Aroon indicators remained aligned with the recent advance.

Analysts identify flag and cup-and-handle setups Crypto With Gopal identified a possible bullish flag on PUMP’s 1-hour chart in an Oct. 1 post. The analyst placed the consolidation range between approximately $0.00545 and $0.00600, following the preceding upward move.

The analyst tied the continuation scenario to buyers reclaiming the upper boundary. A clean breakout above $0.00600, according to the post, could confirm the setup and put an upside target around $0.00740 in view.

That target sits roughly 26.7% above the daily chart’s $0.005839 reading. From the proposed $0.006 breakout level, the distance to $0.00740 is about 23.3%.

The lower end of the analyst’s flag range, around $0.00545, lies close to the session’s $0.005383 low. A move beneath that range would run against the consolidation structure described in the post and bring the day’s lowest price back into focus.

A separate Oct. 1 post from nordin.eth presented a longer-term cup-and-handle interpretation on the daily chart. The annotated chart showed a broad rounded base, a subsequent handle, and price moving above the marked neckline.

Everyone loves $PUMP after the pump.

I’m more interested before it gets exciting.

This chart has spent months building instead of chasing.

Now we have a clear level to watch.

If it breaks with volume, different story.

If it fails, nothing lost.

That’s the game. pic.twitter.com/sfCpzjP55b

— nordin.eth (@nordin_eth) October 1, 2026 Nordin.eth made trading volume a condition for the next move, saying a breakout with volume would change the outlook. The two posts therefore used different timeframes, but both made further upside dependent on a confirmed price break.

Liquidation clusters surround the rebound CoinGlass’s 24-hour liquidation heatmap showed PUMP falling from the $0.006 area toward $0.0054 before recovering toward $0.00584 late in the displayed period.

Pump.fun liquidation heatmap | Source: CoinGlass A prominent yellow band appeared around $0.00587, immediately above the latest price. Additional overhead bands sat around $0.0059 and across the $0.0060–$0.0062 region, overlapping the resistance area visible on the daily chart.

Below the market, the heatmap showed concentrations around $0.00565–$0.00570 and near $0.0054. Those areas corresponded with parts of the intraday decline and rebound.

The price recovery brought PUMP back toward the nearest overhead cluster without yet clearing the $0.006 level identified in the flag analysis. A renewed decline would first return attention to the lower heatmap bands before the session low.

CoinGlass’s chart also showed the market making more than one attempt to approach $0.006 during the displayed period. Each attempt was followed by a retreat, while the latest rebound remained below the earlier intraday peaks.

Buybacks continue as US rates remain higher Strata Terminal’s on-chain tracker recorded approximately $23.1 million in PUMP buybacks over the preceding 30 days as of Oct. 1. Its dashboard placed cumulative purchases at about $469.2 million, providing a separate measure of the platform’s token purchases alongside the chart’s price recovery.

For US market context, the Federal Reserve raised its benchmark interest-rate range by 25 basis points to 3.75%–4.00% on Sep. 16. The decision passed unanimously, with the central bank citing elevated inflation and its goal of returning inflation to 2%.

PUMP’s next technical test remains closer to the market: the $0.006 boundary identified by Crypto With Gopal and the $0.006097 daily high. The analyst’s $0.00740 scenario depends on a breakout, while the lower flag boundary near $0.00545 and the daily low of $0.005383 define the immediate downside levels.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Pump.fun co-founder Alon Cohen laid out the strategic vision for the platform’s mobile and social trading app on September 29, describing a fee structure that effectively rounds to zero on Solana trades. The pitch is straightforward: make trading so cheap that fees stop being a reason anyone hesitates to hit the buy button.

Cohen emphasized that the app is designed to boost the visibility and distribution of tokens launched on Pump.fun, but not at the expense of walling off competing ecosystems. Users should be able to chase “any opportunity onchain,” he said, regardless of which chain or launchpad minted the token.

The fee breakdown On Solana, the platform targets approximately 0% trading fees. For crosschain trades, fees sit at roughly 0.1%. Some prior reporting on Pump.fun’s fee structure has cited rates as low as 0.05% in certain contexts, suggesting the platform has been inching toward this near-zero destination for a while.

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Token creation on the platform remains free as well, excluding the standard network fees that Solana charges for any on-chain transaction. The bonding curve model that Pump.fun uses for token launches, where price rises algorithmically as more tokens are purchased, stays intact.

Incentive programs and creator economics A creator fee-sharing system, announced on January 9, 2026, allows token creators to split fees among up to 10 wallets. The intent is to rebalance incentives so that building on Pump.fun feels financially rewarding for the people actually launching projects, not just for the platform itself.

The callout rewards program has distributed $11 million in under six weeks as of late September 2026.

Cohen’s public messaging reveals a deliberate attempt to align incentives across three groups: traders who want cheap execution, creators who want distribution, and the platform itself which needs volume to survive on near-zero margins.

From memecoin factory to crosschain trading app Pump.fun launched on January 19, 2024, and quickly became synonymous with the Solana memecoin explosion. The platform made it trivially easy to create and trade tokens, which predictably resulted in thousands of launches, most of which went nowhere, and a handful that generated life-changing returns for early buyers.

The PUMP token ICO in July 2025 raised approximately $1.3 billion, a figure that cemented the platform’s position as one of the most commercially successful crypto startups of the cycle.

Cohen’s insistence that the platform won’t block access to tokens on other chains or launchpads is worth noting. Some competitors have taken the opposite approach, creating walled gardens that prioritize their own token launches.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.