Pumpfun is about to launch an epic public sale of 1.32 billion USD Token, aiming for the third largest encryption financing in history.

The well-known memecoin creation platform Pumpfun, based on the Solana Blockchain, is making a final push for its upcoming $PUMP token sale. This highly anticipated token issuance (ICO) aims for a massive financing of $1.32 billion. If successful, this will not only be one of the largest financing activities in the recent crypto market but also has the potential to climb to third place on the entire history ranking of crypto assets financing.

Financing target aims to surpass FTX: Can it rank among the top three in crypto history?

According to statistics from the crypto data platform Cryptorank, the ambitious financing goal set by Pumpfun will make its scale second only to the bankrupt FTX exchange (whose FTT Token sales raised $1.75 billion). At the same time, it will surpass Terra (now LUNC) $1.2 billion financing record, closely following the historical high of $4.26 billion set by EOS (now Vaulta) in 2018. Currently, the third place in the financing rankings is occupied by Terra, followed by UNUS SED LEO ($LEO) with $1 billion in financing and Celsius Network, which is now bankrupt, with $910 million.

$PUMP Token Economics: Trillion Supply, Private and Public Distribution with Zero Lock-up Period

Pumpfun has officially announced that the $PUMP Token will be officially launched on July 12. This Token adopts a model with a fixed total supply of 1 trillion. Among them, up to 33% of the total supply (i.e., 330 billion) is reserved for this initial token issuance (ICO).

• 18% Supply (18 billion coins): Will be allocated through private placement to institutional investors and high-net-worth users.
• 15% Supply (15 billion coins): Will be sold to the public through public sales channels on several major crypto asset exchanges, including Gate.

The public offering price of each $PUMP Token is 0.004 USD. Most notably, this sale has no vesting period (No Vesting), meaning that all tokens subscribed in the private and public offerings will be unlocked and fully circulated immediately on the day of token launch (TGE).

Market Sentiment is Divided: Futures are Booming vs. Whales are Shorting Heavily

Although the $PUMP Token has not officially launched for trading, it has already generated significant heat and controversy in the market.

Futures market frenzy: CoinGlass, a derivatives data tracking platform, shows that the volume of pre-market perpetual contracts for $PUMP tokens has soared by more than 300% in the past 24 hours to a staggering $346 million, with open interest also reaching $115 million. This strongly reflects the high level of interest and speculative enthusiasm of traders for this new token to be launched.

• Whale Bets on Price Drop: However, in stark contrast to the booming futures market, a report from the on-chain data analysis platform Onchain Lens indicates that multiple crypto assets whales are actively establishing short positions (short selling) ahead of token launch. These large investors have deposited millions of dollars into the decentralized derivatives platform Hyperliquid, clearly betting that the price of the $PUMP token will drop after its listing. This behavior suggests that some smart money lacks confidence in the long-term performance of $PUMP.

Concerns of the Whales: Will $PUMP Repeat the "Launch and Peak" Pattern?

These whales conducting short-selling operations generally expect that the price trend of the $PUMP Token may follow the typical patterns seen in many memecoins or Initial Coin Offering (ICO) projects: that is, experiencing a brief, emotion-driven price surge (Pump) after the Token Launch, followed by a sharp and deep price correction (Dump). The significant initial circulating supply selling pressure resulting from a zero lock-up period is considered one of the key risk factors triggering potential declines.