PUMP (Pump.fun) rose 8.87% against the trend in 24 hours.

Gate News Bot news, on October 28, according to CoinMarketCap data, as of the time of writing, PUMP (Pump.fun) is currently priced at $0.00501232, with a rise of 8.87% in the last 24 hours, reaching a high of $0.00506723 and a low of $0.0034182. The 24-hour volume reached $403 million. The current market capitalization is approximately $1.774 billion, an increase of $145 million compared to yesterday, ranking 49th in the global Crypto Assets market capitalization.

Pump is a platform that allows anyone to create tokens. All tokens created on Pump are fairly issued, meaning that when the tokens are first created, everyone has an equal opportunity to buy and sell. Users can choose their preferred tokens, purchase them on the binding curve, and can sell at any time to take profits or cut losses.

PUMP recent important news:

1️⃣ Whales buy in large amounts PUMP Recently, multiple large investors have shown strong interest in PUMP. One investor withdrew $2 million USDC from the trading platform to buy 518 million PUMP at a price of $0.0039. Another investor deposited $3 million USDC into the HyperLiquid platform and opened a long position of 73.5 million PUMP with 2x leverage, with a position value of approximately $3.04 million. These large-scale buying activities indicate that institutional investors are optimistic about PUMP, which may be one of the key factors driving the recent price rise.

2️⃣ Pump.fun acquires trading terminal Padre Pump.fun announced the acquisition of the trading terminal Padre. Although the acquisition amount has not been disclosed, this move will significantly upgrade Pump.fun's user experience. Padre will continue to operate on Solana, BNB Chain, Ethereum L1, and Base, including token trading for various launchpads and decentralized exchanges. This strategic acquisition is expected to enhance Pump.fun's market competitiveness and may have a positive impact on the long-term value of PUMP coin.

3️⃣ PADRE token holders will receive PUMP airdrop As a compensation measure after the acquisition, Pump.fun announced that according to the snapshot taken on October 24, PADRE token holders will receive PUMP tokens based on their holdings. Holders need to submit their Solana wallet address by December 30 to claim the tokens. This initiative may not only attract more users' attention to the PUMP ecosystem but also potentially increase the circulation and trading activity of PUMP in the short term.

From a technical perspective, the current price of PUMP has broken through previous highs, showing a strong rising trend. However, investors should be aware that a rapid influx of large amounts of capital may lead to increased price volatility. At the same time, events such as acquisitions, consolidations, and token airdrops may trigger fluctuations in market sentiment in the short term.

This message does not constitute investment advice, and investors should be aware of market volatility risks.