The meme platform recovered its usual daily token launches, with fees once again above $2.5M and accelerated PUMP repurchases.
Pump.fun is indirectly boosting a small selection of tokens, in its bid to retain the top spot as a meme launch platform. The Glass Full Foundation wallets bought several new assets, with funds still available to deploy to other tokens.
Pump.fun is taking more detailed care of its token ecosystem, boosting selected projects. Recent on-chain investigations showed the Glass Full Foundation bought a small selection of tokens.
On-chain data shows the Glass Full Foundation, linked to Pump.fun, spent $1.69M on meme tokens. The amount was sufficient to boost some of the assets in a relatively illiquid market. TOKABU and HOUSE are the biggest holdings as of August 8. Other tokens received smaller allocations.
After the recent purchase, TOKABU rallied by 40% overnight to $0.039. Housecoin (HOUSE) rallied to a one-month peak at $0.035.
The foundation retains $352,458K for additional purchases. Some of the token purchases are under $10,000. For now, the list of tokens selected by the Glass Full Foundation differs from the CTO projects boosted by Pump.fun on its social media.
Older projects from the Solana launchpad’s ecosystem from the last quarter of 2024 took a step back, with a total valuation of $4.2B. The platform constantly seeks for new breakouts in a bid to retain its users.
Pump.fun expands token support efforts
The selective buying of tokens follows the recent trend of showcasing top community takeover tokens, officially recognized by Pump.fun, as previously reported by Cryptopolitan. The support for meme tokens is in addition to the regular buybacks of PUMP, which aim to boost the native token’s position.
The latest move to boost selected tokens recalls the activities of the BNB Chain Four.meme platform. Curation and high-profile projects were the main focus, with special grants and liquidity injections. At that time, Pump.fun still operated based on chaotic “trenches” trading, letting tokens rise by their own appeal on social media.
As the market becomes more saturated with meme tokens, Pump.fun moved in to secure volumes and activity. Without special support or attention, even ambitious projects often lose volume. Most tokens launched on the platform lose their DEX volumes within a month, and over 98% never graduate to a DEX.
The ability to single out and boost the more powerful memes may keep PumpSwap busier and the community more engaged.
Lauchpad gets a boost from a wave of new token mints
Pump.fun and LetsBonk.fun still compete for the best token creators. Some of the known meme creator wallets most probably use some form of automation, and some switch between the two platforms.
After a few almost inactive days, Pump.fun was back to over 22K daily token mints, with still a low number of graduations. NIGHTFLY was the top graduating token in the past 24 hours, achieving $1M market capitalization. Other new memes had much smaller valuations, allowing for directed buying and quick price reaction.
As a result of the new token generation, Pump.fun returned its usual daily fees above $2.5M. Immediately after the spike in token creation, Pump.fun also accelerated its PUMP token purchases. PUMP recovered to $0.0033, still below its ICO price. The recent activity rally showed Pump.fun had a working mechanism of sharing its profits, switching from extraction to reinvestment in the Solana ecosystem.
Your crypto news deserves attention – KEY Difference Wire puts you on 250+ top sites
