Pump Fun Crypto Defies Vesting Supply Unlocks with 60% Price Surge
Pump Fun (PUMP) is an altcoin that's seen a significant recovery after hitting its recent low, trading at $0.00214 and increasing by 60%. What's unusual about this move is that it happened despite the token absorbing its largest investor and team unlock without breaking down.
The mid-July vesting tranche saw investors receive 32.5 billion PUMP, which is equal to 25% of their allocation, while team members unlocked 50 billion PUMP, also 25% of their allocation. The remaining tokens will unlock linearly over the next 36 months.
Despite this increase in supply, buyers stepped in and pushed the price higher, with trader sentiment remaining optimistic throughout the event.
Many argued that unlock fears were overwhelmed by speculative demand instead of triggering sustained selling, causing attention to shift away from vested concerns.