The new altcoin PUMP has officially started trading as of today. According to GMGN data, as of 8:13 PM UTC+3, the token's price was set at $0.0061301. This price brought PUMP's fully diluted valuation (FDV) based on the total supply to $6.13 billion. This represents an increase of approximately 53.25% compared to its IPO price of $0.004. The price of the token at the time of writing this article is $0.005429. According to an announcement on Binance Alpha, PUMP is now live on the platform. As of 8:20 PM, Binance Futures began transitioning the PUMPUSDT futures contract from pre-market mode to the standard USDⓈ-M contract. This transition may take up to an hour to complete, depending on spot price stability. However, trading will not be affected; all open orders and positions will be preserved. PUMP's initial coin offering (ICO) launched on July 12th and completed in just 12 minutes, raising $500 million. This rapid sale demonstrated significant demand for the token, given its $4 billion valuation. Related News: The Bitcoin Whale That Previously Moved 80,000 Bitcoins Makes Another Transaction After Today's Rally - What's Going On? PUMP, which attracted significant interest even before trading began, became the third-highest-volume contract during pre-market futures trading on the Hyperliquid platform. Despite trading at only 3x leverage, it trailed BTC and ETH, which are offered at 40x and 25x respectively. Although the token reached a peak valuation of $7.2 billion in pre-market trading, it has since retreated to its opening price. The token's launch has sparked controversy surrounding its valuation at the ICO. Some investors deemed the $4 billion valuation “exploitative,” while others viewed it as fair for a protocol that has generated $720 million in revenue since the first quarter of 2024. PUMP's profitability in 2025 slowed slightly compared to 2024. The platform, which trailed only Tether and Circle in 2024, remains strong in 2025 and currently holds the seventh-highest revenue earnings in the DeFi ecosystem over the past 30 days. Having generated $264 million in revenue since the beginning of the year, the protocol is poised to experience July as its lowest revenue month since September 2024. However, it's important to remember that PUMP is extremely risky due to its relationship with the memecoin world. Furthermore, the PUMP team sells large portions of their platform revenue to centralized cryptocurrency exchanges. *This is not investment advice. Continue Reading: The Most Talked About Altcoin of the Last Days Finally Launches – Here’s the First Price
