News linked to both this project and an event.
According to Cointelegraph, ARK Invest researcher Lorenzo Valente noted in a post on July 30 that the cryptocurrency industry is entering the largest consolidation phase in history. As investors become increasingly strict in screening projects, revenue is accelerating towards concentration among a few top protocols—Hyperliquid and Pump.fun collectively account for approximately 67% of the industry's application revenue, and with Ethena included, the combined share of the top three approaches 80%. Valente expects this trend to accelerate in the coming months, triggering more M&A, bankruptcies, and project closures. Meanwhile, BitMEX and BitMart recently announced the shutdown of trading services in succession, further confirming the consolidation trend. Valente believes that this round of consolidation is "extremely beneficial" for the long-term development of the crypto industry.
: South Korea today sentenced a fraud case involving unfair trading terms under the Virtual Asset User Protection Act in its first-instance trial. The Seoul Southern District Court sentenced Park, a cryptocurrency influencer who planned a Meme coin "Rug Pull" scam, to four years in prison. Two accomplices received sentences of two years and six months, and three years in prison with five years of probation, respectively.Prosecutors stated that the defendant issued a Meme coin through Pump.fun and used social media to spread false bullish information, such as "token lock-ups," inflating the coin's price approximately 1,001 times within 26 hours. This attracted about 6,000 investors to buy in, after which the group dumped their holdings to cash out. The gang spent only about 10 million Korean won on the scheme and illegally profited around 400 million Korean won. (Edaily)
Odaily Odaily News: Dragonfly partner Haseeb posted on X platform, responding to doubts about the long-term stability of Pump.fun's revenue curve. He believes this phenomenon is not abnormal and, from a macro perspective, closely resembles the trend of overall crypto spot trading volume.Haseeb stated that some users suspect data anomalies because daily trading volume appears too stable, lacking a weekend dip. However, he argues this perspective overlooks the participant structure of the Meme coin market. Since Meme coin trading is primarily driven by retail investors, it does not experience a significant decline in trading volume on weekends, unlike markets dominated by professional traders and hedge funds such as Hyperliquid.Haseeb noted that users can verify this by examining Pump.fun's pre-issuance revenue data, which previously showed similar stability and does not indicate any irregularities. Additionally, he mentioned that trading terminals and Telegram bots have relatively high trading volumes, so their revenue is not necessarily highly correlated with Pump.fun itself. Currently, the revenue curve of the largest trading terminal, Axiom, closely resembles that of Pump.fun.
Odaily reports, according to Lookonchain monitoring, after Ansem (@blknoiz06) spent 1500 SOL (worth $115,000) to buy PUMP, trader 0xbf73 opened a 10x long position on 764 million PUMP, worth $1.53 million. The liquidation price is $0.0016194.
Ansem posted on platform X, stating that he purchased PUMP tokens at around $0.001675. Ansem noted that pump.fun still generates approximately $30 to $40 million in monthly revenue during the bear market, and believes Solana could once again become a key platform for retail trading activity in this cycle. He further stated that if pump.fun stimulates the meme coin trading ecosystem through an airdrop, with the airdrop scale exceeding $300 million, market trading volume, attention, and activity could see an increase. Additionally, Ansem mentioned that if the price breaks below the low point during the unlock selling period of approximately $0.0014, this investment thesis would be invalidated.
Odaily Odaily News: On-chain analyst Yujin posted on Platform X, stating that Pump.fun continues to cash out $6.15 million in fee revenue today, transferring 81,700 SOL to Kraken. Since the beginning of 2024, Pump.fun has cumulatively sold 4.812 million SOL in fee revenue, valued at $812 million, at an average price of approximately $168.7.
Odaily News Renowned trader Ansem posted on X, stating that buybacks (for token prices) actually don’t have much effect.Ansem further noted that Hyperliquid's annualized revenue is $800 million, while Pump.fun's annualized revenue is $440 million; however, HYPE's FDV is as high as $65 billion, whereas PUMP's FDV is only $1.4 billion. Both teams regularly use a portion of their business profits for buybacks, yet their P/S ratios are vastly different.This disparity doesn't stem from how much revenue the businesses actually generate, but rather reflects the market's "trust premium" for the teams — a trust determined by their actions and decisions in the market. Hyperliquid never over-promises, focuses purely on product delivery, and generously rewards core users who contribute the most to the platform based on established metrics. In contrast, Pump.fun generated $1 billion in revenue, raised another $1 billion in an ICO, and promised users an airdrop, but has yet to deliver. Despite being one of the most successful and profitable businesses in the crypto industry, they lack a social consensus bond with their core user base and thus cannot achieve the trust premium that Hyperliquid enjoys.Therefore, what determines a business's valuation includes not only the "tangible value" derived purely from revenue and other metrics but also "intangible value." Trust, memetics, and attention are all crucial in the market, yet they are currently discussed far too little.
Odaily Odaily reports, according to Onchain Lens monitoring, a trader who had accumulated losses of $4.89 million has once again opened a long position of 84 BTC, valued at $5.43 million, with 40x leverage. The trader also holds long positions of $290,000 in HYPE and $148,000 in PUMP. The account has also placed a limit order to buy 6.56 BTC, valued at $424,000, at a price of $64,600.
Odaily Odaily News According to on-chain analyst Yu Jin's monitoring, starting today, the one-year lock-up period for Pump.fun team and investor tokens has ended, entering a three-year unlock cycle. Early this morning, the first token unlock for Pump.fun team and investors occurred, with 57.279 billion PUMP unlocked and transferred to 121 wallets, valued at $86.49 million. Among them, the address GsM3...u6ya saw 52.039 billion PUMP unlocked and transferred, worth $78.58 million; the address ESRc...ZM67 saw 5.24 billion PUMP unlocked and transferred, worth $7.91 million.
According to on-chain analyst Yu Jin (@EmberCN), Pump.fun transferred another 16.43 million USDT to Kraken 7 hours ago. Thus, among the stablecoins (USDC+USDT) obtained from its $PUMP public offering last July, a cumulative total of approximately $770 million has flowed into centralized exchanges. Additionally, Pump.fun recently resumed selling operations of fee revenue, having transferred 342,500 SOL (approximately $27.59 million) in fee revenue to Kraken since mid-May.
According to Lookonchain monitoring, a whale began buying PUMP after more than a year of inactivity, spending 5,000 SOL (worth $358,000) to purchase 242.66 million PUMP tokens. Over a year ago, the whale bought 10,957 SOL at $237 each, worth $2.6 million, and staked them. Despite receiving 1,206 SOL in staking rewards, the position is still suffering a loss of over $1.7 million, a decline of 66%, due to the price drop.
Odaily Odaily News Trader Ansem stated on platform X that there are currently enough high-quality tokens on the market, so he has no immediate plans to issue a personal token but will airdrop the creator fees allocated to his Pump.fun personal page.Ansem stated that users who retweet the relevant post, follow his Pump.fun page, and comment with their own Pump.fun profile will have the opportunity to participate in a weekly random airdrop.Additionally, Ansem revealed that his creator fee share alone over the past week was approximately $200,000. He believes that using this portion of income for airdrops could replicate the market stimulus effect of the Jito airdrop in 2023 and could potentially serve as a catalyst to ignite a new bull run for Solana. However, he also pointed out that Pump.fun still needs to address the user experience issue regarding batch claims for airdrops.
According to on-chain analyst Ember (@EmberCN), Pump.fun transferred 67,000 SOL to Kraken in the past 30 minutes, valued at approximately $4.51 million. He noted that since the beginning of 2024, Pump may have cumulatively sold 4.61 million SOL in fee revenue, totaling approximately $795 million, with an average price of about $172 per SOL.
According to Lookonchain monitoring, Pump.fun deposited 174,408 SOL (approximately $14.76 million) into Kraken 13 hours ago. Concurrently, on-chain transaction data suggests it may have completed partial sell-offs: a newly created wallet (35qaEz) withdrew 117,877 SOL (approximately $9.96 million) from Kraken, subsequently selling all of them at around $84.52 each for approximately $9.96 million USDC, and then redeposited the USDC back into Kraken.
According to on-chain analytics platform Lookonchain (@lookonchain), Pump.fun has resumed selling SOL after a 9-month hiatus, depositing 174,408 SOL (approximately $14.76 million) into Kraken. Of this amount, 117,877 SOL—reportedly sold via a newly created wallet (35qaEz)—was exchanged for approximately $9.96 million in USDC at an average price of $84.52 per SOL and subsequently deposited back into the exchange. Previously, between May 2024 and August 2025, Pump.fun had sold a cumulative total of 4.19 million SOL, amounting to roughly $757 million at an average price of $181 per SOL.
according to Onchain Lens monitoring, a whale deposited 742.3 million PUMP tokens, worth $1.59 million, into Binance after 5 months; the wallet still holds 3.48 billion PUMP tokens, valued at $7.36 million.
据 Lookonchain 监测，某巨鲸做多多个热门山寨币，包括 NEAR、STRK、XMR、TON、AZTEC、PUMP。当前持仓包括：308 万枚 NEAR（483 万美元）、7555 万枚 STRK（430 万美元）、9561 枚 XMR（380 万美元）、128 万枚 TON（333 万美元）、1486 万枚 AZTEC（35.7 万美元）、7199 万枚 PUMP（14.7 万美元）。
Castle Labs (@castle_labs) published a post stating that the current crypto market is undergoing a profound paradigm shift—speculative models prioritizing extraction are gradually giving way to investment logic oriented toward revenue generation. The article notes that since 2026, the broader crypto market has performed poorly: most assets have seen sustained price declines, ETF funds have continued flowing out, project shutdowns have intensified, and institutional VC investments have grown increasingly conservative. The key catalysts for this shift were last October’s large-scale liquidation event and the ongoing market reflection triggered by gold consistently outperforming Bitcoin. On the revenue data front, among the roughly 5,700 protocols tracked by DeFiLlama, only 3.5% generated over $100,000 in revenue over the past 30 days—and fewer than 1% actually distributed earnings to token holders. The article focuses on top revenue-generating protocols—including Hyperliquid (HYPE), Pumpdotfun (PUMP), Tron (TRON), Sky (SKY), Jupiter (JUP), Aave (AAVE), and Aerodrome (AERO)—analyzing their price-to-sales ratios (P/S) and token holder return metrics. It argues that protocol revenue—and its capacity to feed value back to token holders—is becoming the core metric investors use to evaluate and select projects. Regarding institutionalization trends, traditional financial giants—including NYSE, Robinhood, BlackRock, and Franklin Templeton—