Pump Token Price Jumps 13% After Binance Listing

Pump.fun (PUMP) jumped more than 17% in Wednesday morning trade, marking a 2-month high, after its debut on crypto exchange Binance, despite weakness in the broader cryptocurrency market.

Despite the uptick, Pump.fun’s price remains about 16% below its all-time high of $0.0068, seen when the token launched in July. On Stocktwits, it was among the top trending cryptocurrency tickers at the time of writing. Retail sentiment on the platform around the token was in ‘neutral’ territory, accompanied by ‘high’ levels of chatter. 

The new listing is expected to add liquidity to PUMP pairs and broaden access for U.S. investors. Pump.fun, a Solana (SOL) protocol, posted $2.06 million in revenue over the past 24 hours, ranking second among DeFi projects, according to DefiLlama data. The meme coin launchpad’s revenue was just behind Hyperliquid’s (HYPE) $2.68 million. Pump.fun also held the second spot over the past 30 days.

Following the announcement that Pump.fun (PUMP) will list on Binance.US, on-chain data showed active addresses reaching a new all-time high of 18,900, signaling increased network participation and user adoption.

CoinGlass data indicated that PUMP’s open interest (OI) rose 19% over the past 24 hours to $769 million, reflecting heightened capital inflows into PUMP derivatives.

After a challenging August marked by multiple failed breakout attempts, PUMP has gained traction in September, climbing from $0.0034 to $0.0057, with much of the recent gains coming in the past few days as the Binance U.S. listing appears to have added fresh momentum.

Read also: Solana Hits 7-Month High, Dogecoin Slips Despite ETF Buzz As Bitcoin Stalls Ahead Of PPI Report

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