PUMP (Pump.fun) fell 21.40% in the last 24 hours.

Gate News Bot message, July 15, according to CoinMarketCap data, as of the time of writing, PUMP (Pump.fun) is currently priced at 0.00575845 USD, down 21.40% in the last 24 hours, with a high of 0.01214249 USD and a low of 0.00510074 USD. The 24-hour volume reached 1.043 billion USD. The current market capitalization is approximately 2.038 billion USD, a decrease of about 555 million USD compared to yesterday.

Pump.fun is a platform that allows anyone to create tokens. All tokens created on Pump are fairly issued, meaning that when the tokens are first created, everyone has an equal opportunity to buy and sell. Users can select their preferred tokens, purchase on the bound curve, and can sell at any time to lock in profits or losses.

Important news about PUMP recently:

1️⃣ Large-scale purchases and hedging operations A large investor invested 5 million USDC, of which 2.3 million was used to purchase 423 million PUMP, while opening a short position of 2.43 million USD in PUMP with 5x leverage for hedging. This large-scale trade and complex hedging strategy indicate that market participants have uncertainty about the price trend of PUMP, which may lead to increased price volatility in the short term.

2️⃣ Multiple exchanges support the launch of PUMP Gate, Coinbase and other well-known exchanges have announced support for the launch of the PUMP token and have opened related trading pairs. This broad support from exchanges will significantly enhance the liquidity and tradability of PUMP, which is beneficial for attracting more investors to participate, but it may also intensify price volatility.

3️⃣ Contract market heat is rising The total open positions for the PUMP contract across the network reached 726 million USD, with Hyperliquid accounting for 520 million USD. Gate holds 4.42 million USD, with a funding rate as high as 0.4060%. The large open positions and the high funding rate reflect the market's strong attention and speculative sentiment towards PUMP, which may lead to significant price fluctuations.

From a technical perspective, the PUMP price has experienced significant volatility in the short term, falling from a high of $0.01214249 to the current $0.00575845, a decrease of over 50%. This dramatic price movement indicates unstable market sentiment, and investors should be wary of potential high risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.