Pump.fun accelerates the acquisition of PUMP tokens despite falling revenue.

The platform launching memecoin on Solana – Pump.fun – has made a strong push for the acquisition program of the native token PUMP since the ICO last month, raising approximately 600 million USD. Although revenue from platform fees – the main funding source for the program – is falling, the average acquisition price is still higher than the market price.

According to data from the Dune analytics table compiled by anonymous on-chain analyst @adam_tehc, Pump.fun made one of the largest acquisition transactions on Tuesday, spending 11.65 million USD to acquire PUMP. It is estimated that the development team acquired a total of approximately 7.43 billion PUMP at an average price of 0.0058 USD, equivalent to 43.38 million USD – more than 40% higher than the current price of 0.0039 USD, indicating a significant gap between the acquisition price and the market trading price.

Currently, the price of PUMP has fallen by 42% compared to the peak of 0.0068 USD reached right after its launch in mid-July.

Another data source from Lookonchain recorded continuous acquisition transactions with 175.3 million PUMP – worth nearly 705,000 USD in just the past few hours – and estimates a total of 7.66 billion PUMP worth approximately 30.65 million USD ( equivalent to 0.766% of the supply ). The discrepancy in figures between sources is likely due to differences in calculation methods and real-time data. Notably, the official dashboard of Pump.fun ( updates daily ) reporting 34.4 billion USD in acquisitions as of August 12.

Pump Fun's revenue is falling sharply | Source: The BlockPump.fun started an acquisition program in July, using all platform fees, according to The Block. This program takes place amid fierce competition among memecoin launchpads on Solana, and the debate over whether the "acquisition from fees" model can adequately compensate for the decline in user activity.

The competitor LetsBONK has surpassed Pump.fun in daily trading volume and the number of tokens launched at certain times in July. Previously, the number of tokens "graduating" on Pump.fun had significantly decreased as the memecoin frenzy cooled down. LetsBONK also commits to allocating 1% of its revenue to acquire top tokens launched through its platform.

Although Pump.fun has regained its leading position in the release of Solana memecoins since the beginning of August, data from The Block shows that trading activity remains highly volatile, while daily revenue has continued to fall since the peak in January, despite the launch of PumpSwap and the organization of the ICO.

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