Pump.fun (PUMP): A Sixth of All Tokens Burned, Price Up 50 Percent in a Week

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Pump.fun has now destroyed almost 17 percent of its maximum supply, and the PUMP price rose by half in seven days. On top of that came a clarification from the US Securities and Exchange Commission on buyback programs that frees up less than many headlines claim. Here are the week's figures, the levels and what investors in Germany should check.The token of launchpad platform Pump.fun traded at 0.00526 euros on Thursday, October 1, at 01:04, according to CoinGecko. Seven days earlier it stood at 0.00352 euros. That is a gain of 49.6 percent in one week. With a market capitalization of around 2.45 billion euros, PUMP ranks 40th on CoinGecko. Three developments sit behind the move, and all three can be documented. The buybacks funded from part of the platform's revenue have been running for more than a year and have by now destroyed a sixth of the maximum supply. Revenue picked up noticeably from September 26. And on September 25 the US Securities and Exchange Commission set out h...