Pump.fun Purchases $12.2 Million in PUMP Tokens for Strategic Buyback

Crypto launchpad Pump.fun just executed a significant buyback of its native PUMP token, investing nearly $12.2 million from August 28th to September 3rd. This move, which accounted for 98.23% of the platform’s weekly revenue, has had a noticeable impact on prices. The buyback reduced circulating supply by 5.36%, leading to an impressive price increase exceeding 8%. Pump.fun is aiming to strengthen its market position and boost token value, which aligns with their commitment to enhancing the ecosystem.