The cryptocurrency exchange Gate.io has quietly removed the token sale page for the upcoming Pump.fun meme coin platform based on Solana.
This Tuesday, users on platform X discovered a suspected leaked webpage that displayed detailed information about the official public offering of Pump.fun tokens, which was originally scheduled to launch on July 12.
The page indicated that 150 billion tokens would be sold at a price of $0.004 each, with a total token supply of 1 trillion tokens. The total fundraising amount was approximately $6 billion.
The page also stated that this IEO (Initial Exchange Offering) was Pump's "first official public offering," with an IEO valuation set at $40 billion.
However, Gate.io subsequently deleted the page from both its Chinese and English websites, and accessing it now shows a 404 "Page Not Found" message.
When users inquired about the reason for the page's removal, Gate.io's customer service response only added to the confusion. They stated, "After discussions between Gate and the project party, Gate has removed the Pump.fun OTC pre-sale. There is currently no confirmed date or announcement for a relaunch."
The response also mentioned an announcement to be released in October 2024, indicating that the exchange would no longer support OTC trading for Pump.fun.
Cointelegraph has reached out to Gate.io and Pump.fun founder Alon Cohen regarding this matter, but has not received a response as of the time of publication.
In early June of this year, there were rumors in the market that Pump.fun planned to raise $10 billion through token sales, with a valuation reaching $40 billion.
However, despite reports from insiders revealing related information, neither the platform nor its co-founder Alon Cohen has confirmed this.
The Solana-based meme coin trading platform Pump.fun saw a surge in popularity during the meme coin minting craze in January.
According to data from Dune Analytics, the platform has facilitated the creation of over 11 million new tokens, with total revenue of approximately 4.4 million Solana (SOL), equivalent to about $655 million.
However, since the peak of the meme coin craze in January, the platform's trading volume has plummeted by about 75%.
A report from DefiLlama indicated that in the past six months, the platform's daily trading volume has dropped by as much as 80%.
On Monday, Cointelegraph reported that the latest meme coin issuance platform on Solana, LetsBonk, generated $1 million in revenue that day, double that of Pump.fun's revenue, shaking up the rankings in the meme coin sector.
Related: Robots are the driving force behind most tokens of Pump.fun and LetsBonk (BONK)
Original article: “Gate.io Deletes Countdown Page for $6 Billion Pump.fun Token Sale”
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