This morning, a token called "Trenches" entered the market's view after being silent on the Pumpfun internal market for 9 days. It successfully "launched" today and broke through a market cap of 7 million dollars within 2 hours, subsequently surpassing a market cap of 10 million dollars, currently quoted at a market cap of 7.5 million dollars. "Trenches" is no longer a new concept in the Solana community; as this native term becomes increasingly popular among Degens, the culture represented by "trenches" has deeply resonated with people. So what is different about this "new trench"?

What is the live broadcast Trenches?

Trenches is a brand new live streaming platform project that delves into and comments on the top products in the crypto industry through pump streaming. The first live broadcast will air at 4 PM Eastern Time, corresponding to 4 AM Beijing Time on May 29. This live broadcast invites several heavyweight guests, including @jnwng, Drift co-founder @cindyleowtt, and @NaytheForceBwU. Trenches is developed by Crypto Carl (@CarlKVogel), whose live streaming platform 6MV successfully raised 140 million dollars.

All-star endorsement lineup, and the Dev is actually a Pumpfun investor?

Carl, the founder of Trenches, holds dual master's degrees from Harvard Business School and MIT, and previously worked as a product manager at Google. He is now a partner at 6th Man Ventures (6MV), having invested in projects like io.net, Magic Eden, and Gelato Network.

According to Twitter user @timotimo007, Carl is considered one of the "largest investors" in Pumpfun. Although there is no solid evidence, 6MV has recently been frequently retweeting Pumpfun's content.

Carl himself recently revealed on Twitter that he is launching the live streaming experiment for Trenches. He hopes to create a product that allows people to "learn while playing," while also helping more people understand the underlying technical logic. Additionally, since Pumpfun had previously paused its live streaming function due to compliance issues, Trenches suddenly going live is seen by many as a warm-up for Pump's live streaming "comeback."

According to @AdelLynn's analysis on Twitter, Trenches had a suspected address belonging to Carl quietly purchase at a price of 163 dollars on May 19 (9 days before the launch), and the current profit has reached 300,000 dollars, suggesting that there may be some premeditated planning and financial operations behind the project.

On-chain data further indicates that Trenches has "whale attributes," having undergone multiple wash trading, with the current market cap fluctuating around 7.5 million dollars. Adel is very optimistic about Trenches, even stating that its market cap "could exceed 15 million dollars," primarily because the project has narrative potential, combined with the dual support of Pump's live streaming and endorsements from key figures in the core circle, and the live events may attract new attention and buying interest, especially after the live broadcast at 4 PM Eastern Time. However, Adel also reminds that Carl has publicly stated that Trenches is an "experiment," and advises investors to patiently wait for a correction.

Overall, Trenches is more likely to be an important attempt at Pumpfun's live streaming ecosystem. With Carl Vogel's industry background, the financial support from 6MV, and the innovation in live streaming narratives, Trenches has shown great potential in the short term.

However, the project's "experimental" nature also brings uncertainty. If one is optimistic about the future development of Pump's live streaming and the endorsement effect of key figures in the core circle, they can pay attention to the market performance after the live broadcast. But can Trenches become the "new trench" and promote the further development of the Pump live streaming ecosystem? Let's wait and see.

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