Pump.fun Eyes $1B Token Raise at $4B Valuation, Sends Solana Briefly Lower
Solana’s native token SOL saw a brief pullback on Tuesday after reports surfaced that meme-token launchpad Pump.fun is planning a major token sale.
According to Blockworks, Pump.fun aims to raise $1 billion through a token offering that would value the project at $4 billion on a fully diluted basis (FDV). Details remain scarce, with no confirmed timeline or clarity on whether the new token will be launched on the Pump.fun platform itself.
Pump.fun has seen explosive growth since its launch just over a year ago. The Solana-based platform, which allows users to easily create and trade tokens, has reportedly generated more than $700 million in total revenue.
SOL fell roughly 2% in the immediate aftermath of the news during late U.S. trading hours but has since clawed back about half of that initial decline, trading near $144.99 at last check.
