Pump.fun (PUMP) perpetual market

PUMP is the native token of Pump.fun, the Solana-based launchpad that made it trivially easy for anyone to create and trade memecoins. Launched in 2024, the platform lets users mint a token in seconds and trade it immediately against a bonding curve, with liquidity migrating to a decentralized exchange once a token reaches a set market capitalization. Pump.fun became one of the highest-revenue applications in crypto by taking a small fee on every trade, and at times it accounted for a large share of all new tokens and trading activity on Solana. Its PUMP token was sold in a widely watched public offering in July 2025 and is tied to the platform's fee revenue and ecosystem, including its own exchange and livestreaming features. Because the business is driven almost entirely by speculative memecoin volume, PUMP is a high-beta bet on retail trading appetite, and the platform has drawn criticism for the volume of scam tokens and rug pulls launched through it.