Six major centralized exchanges have now received over $142 million worth of PUMP tokens following the successful completion of Pump.fun’s $500 million Initial Coin Offering (ICO).
Six major centralized exchanges have now received over $142 million worth of PUMP tokens following the successful completion of Pump.fun’s $500 million Initial Coin Offering (ICO).
This move positions the platforms to support trading once the full token distribution to buyers is finalized between July 13 and July 16.
Following the conclusion of the Pump.fun’s public sale, blockchain tracking firm Spot On Chain that all participating centralized exchanges have received their allocated PUMP tokens.
The exchanges and their allocations are:
This distribution places these exchanges in a strong position to enable deposits and begin full trading shortly after the unlock period is complete.
The PUMP token sale, completed in just 12 minutes, over $500 million, making it the third-largest ICO ever recorded. Of the total amount raised, $448.5 million came directly through the Pump.fun website. The remaining $51.5 million was via the six participating exchanges.
A large portion of the funds came from a relatively small group of wallets. On-chain revealed that 340 wallets alone contributed over $300 million, accounting for around 60% of the total raise. The average contribution from these wallets stood at approximately $44,000, suggesting significant interest from high-net-worth individuals and institutions.
Before the official unlock, PUMP began trading on pre-market platforms, reaching a high of $0.01214, more than triple its initial sale price. As of July 13, the token price remains around $0.0056, which is still 40% above the ICO rate.
Some market participants have identified a short-term arbitrage opportunity. Investors who secured tokens during the ICO can short PUMP at current pre-market prices and potentially profit by closing their positions after receiving the tokens. With a cap of $1 million on such trades, profits could reach up to $400,000 under favorable conditions.
In furtherance, Pump.fun has that token distribution will occur over a 48 to 72-hour window, which started yesterday, July 13. Once the distribution process is complete, PUMP will become fully tradable and transferable. Market watchers expect trading activity to increase across centralized platforms as allocations unlock.
