Gate.io briefly announces a $600M PUMP presale, then deleted the post without explanation. The pre-sale is set to go live on 12th July.
Author: Sahil Thakur
Pump.fun’s upcoming utility token, PUMP, is already generating buzz, and confusion , after a now-deleted presale announcement by crypto exchange Gate.io. While Pump.fun confirmed plans for a public token sale starting July 12, Gate.io’s post announcing the sale vanished without explanation shortly after publication.
According to the now-pulled Gate.io post, the PUMP presale would offer 150 billion tokens (15% of total supply) at $0.004 each, targeting a $600 million raise. If accurate, that would give Pump.fun a fully diluted valuation of $4 billion.
Pump.fun, a Solana-based memecoin platform, had previously denied plans for a token. However, it reversed course in June by announcing the launch of PUMP, a utility token meant to support its growing ecosystem.
Gate.io’s deleted page revealed that the sale would run for 72 hours starting July 12, or until tokens sold out. The offering was to have no cap per buyer, only a minimum purchase. But following online commentary, Gate.io scrubbed the listing without offering clarification. Pump.fun also remains silent.
This has raised multiple questions: Was the announcement premature? Was it an error or a leak? Or was it a test balloon for community response?
Adding to the chaos is Pump.fun’s dwindling traction. On-chain data shows the platform’s revenue plunged 92% from its January peak of $7 million to just $533,410 by early July. Fee earnings also dropped significantly, with more than 60% of users reportedly posting losses.
Pump.fun also faces new competition. BONK’s launchpad LetsBonk recently surpassed Pump.fun in daily token launches, signaling a potential market share battle.
Still, Pump.fun remains a well-known player. Its frictionless token creation tools—no pre-mines, team allocations, or trading taxes—have helped popular memecoins like Fartcoin and Chill Guy gain traction.
But with no confirmation from either company and the presale less than a week away, the silence is deafening.
| Project | Funds Raised | Unique Selling Point (USP) |
|---|---|---|
| Solaxy (SOLX) | ~$26M | Scalable Layer‑2 for Solana, reduces congestion and fees by 90%, ~159% APY staking |
| Wall Street Pepe (WEPE) | ~$68–69M | Meme + DeFi trading analytics, staking, and governance with strong Reddit support |
| Little Pepe (LILPEPE) | ~$1.8M | Layer‑2 tech with bot protection, audit score 81.75, potential 2.5× launch return |
| Best Wallet Token (BEST) | ~$11M | Utility token for multi-chain wallet (60+ blockchains), includes staking and DEX |
| BTC Bull Token (BTCBULL) | ~$7.8M | ERC‑20 meme token pegged to Bitcoin price, includes BTC airdrops and token burns |
| Meme Index (MEMEX) | ~$3.7M | Diversified meme-coin index token with staking and DAO governance |
| Mind of Pepe (MIND) | ~$7M | AI-driven meme coin with real-time trading bots, staking, and autonomous governance |
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