Originally published on: November 28, 2024
SecondLane has recently listed a 1% equity interest in the popular memecoin protocol Pump.fun at a fully diluted valuation (FDV) of $1.5 billion on its platform. This move has sparked significant interest in the private markets trading community.
The equity stake in Pump.fun was listed for $15 million on SecondLane’s web app and a Telegram channel dedicated to announcing new offerings. Despite not having launched a native token yet, Pump.fun has attracted investments from big players like Alliance DAO, Big Brain Holdings, and 6th Man Ventures.
In a recent development, Pump.fun teased the release of a future token and announced its plans to introduce a new trading terminal called “Pump Advance.” While no specific timeline has been provided for the token launch, the Pump team is gearing up for major developments.
According to DefiLlama, Pump.fun has emerged as one of the top-earning blockchain protocols, generating significant fee revenue in the past 30 days. Its success is largely attributed to the memecoin trading frenzy on the Solana blockchain.
With venture capital funding and growing interest, memecoins have gained a market capitalization of over $122 billion, signaling a shift in the crypto landscape. Pump.fun’s promise of instant tradability for under $2 and its innovative “For You” algorithm have garnered attention from users.
While memecoins continue to divide opinions within the crypto community, the rising popularity of platforms like Pump.fun indicates a shift towards mainstream adoption. Stay tuned for more updates on this evolving trend.
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