Cryptocurrency change Gate.io has quietly eliminated a web page exhibiting an upcoming token sale for the Pump.enjoyable Solana-based memecoin platform.
On Tuesday, customers of X observed a “leaked” webpage exhibiting particulars of a public sale of the Pump.enjoyable official token, scheduled to start out on July 12.
The web page exhibits 150 billion tokens being provided at $0.004 out of a complete provide of 1 trillion tokens. The elevate would quantity to round $600 million.
The web page states the IEO (Preliminary Trade Providing) marks Pump’s “first official public token sale,” and the IEO valuation is ready at $4 billion.
Nonetheless, the crypto change later deleted the web page from each the English and Chinese language variations of the web site, now exhibiting a 404 “web page not discovered” discover.
Gate.io assist publish provides to confusion
A response from Gate.io assist to a consumer in regards to the takedown has solely added extra confusion, stating, “following negotiations between Gate and the mission, Gate has eliminated Pump.enjoyable Pre-Market OTC. At the moment, there is no such thing as a confirmed date or announcement for its reopening.”
The message references an October 2024 announcement that the change would now not assist over-the-counter buying and selling for Pump.enjoyable.
Cointelegraph reached out to Gate.io and Pump.enjoyable founder Alon Cohen for remark, however didn’t obtain an instantaneous response.
Token sale rumors
In early June, rumors emerged that Pump.enjoyable was planning to boost $1 billion via a token sale that may worth the corporate at $4 billion.
Nonetheless, neither the platform nor its co-founder, Alon Cohen, confirmed these rumors regardless of a report on the time citing individuals accustomed to the matter.
Associated: Pump.enjoyable and its founder hit in X account suspension blitz
Pump.enjoyable’s recognition wanes after memecoin hunch
The Solana-based meme market Pump.enjoyable surged in recognition in January through the memecoin minting frenzy.
The platform has facilitated the creation of greater than 11 million new tokens with a mixed whole income of roughly 4.4 million Solana (SOL), or roughly $655 million, in line with Dune Analytics.
Nonetheless, volumes have plummeted round 75% for the reason that top of the memecoin frenzy in January, in line with Dune.
DefiLlama stories a steeper 80% hunch in day by day quantity on the platform over the previous six months.
On Monday, Cointelegraph reported that Solana’s latest memecoin launchpad, LetsBonk, doubled Pump.enjoyable’s day by day income with $1 million, shaking up the leaderboard within the memecoin area.
Associated: Dogecoin set for rebound? Ripple eyes US banking license: Hodler’s Digest
