PUMP trades below its ICO price, at 3.6B. Weekly generated fees are also trending down, yet remain at a respectable 10.2M. Pump smartly launched their DEX, which generates about 50% of all fees. From the total 0.3% swap fee, 0.05% goes to the team and 25% of that for PUMP buybacks. This puts Pump Fun at 17th in all crypto industry in terms of fees, just below Bonk, which is gaining market share from Pump. - BONK: 2.5B market cap ($3b FDV) - PUMP: 1.3B MC (3.6B FDV) PUMP does not look to bad here? Although PUMP private sale investors hold 18% of the total supply. Earliest reported seed valuation is just $12m USD. It's an 322x from the ICO's FDV. BONK is much more widely distributed.(Ignas | DeFi)