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Gate Research Institute: Pump.fun may conduct a 1 billion dollar Token sale | HYPE has risen over 80% in the last 30 days
Crypto Market Overview
**BTC ( **+0.11% | Current Price 105,696 USDT): Yesterday, the net inflow of BTC ETF was 375 million USD, with BlackRock's IBIT inflow of 58 million USD, Fidelity's FBTC inflow of 136 million USD, and ARK's ARKB inflow of 139 million USD. Despite the strong inflow of ETF funds, BTC continues to maintain a narrow range of fluctuations, and the market may continue to be dominated by oscillating trends in the short term.
**ETH (**1.29% 丨 current price 2,637 USDT): ETH has performed relatively strongly, finding some support in the middle band of the daily Bollinger Bands, with resistance above at $2,700. Today, the ETH/BTC exchange rate edged higher at 0.025, and the ETH market share is at 9.5%, unchanged from yesterday.
Altcoins: Prices vary, and the market lacks a collective narrative. The Fear and Greed Index today reports a score of 57, indicating that the market is in a relatively rational state.
Macro: Yesterday, all three major indices of the U.S. stock market closed higher, with the S&P 500 index rising by 0.58% to 5,970.37 points; the Dow Jones index increasing by 0.51% to 42,519.64 points; and the Nasdaq index gaining 0.81% to 19,398.96 points.
Popular Tokens on Juejin
ME Magic Eden (+24.92%, circulating market cap 325 million USD)
According to Gate.io market data, ME is currently quoted at $1.068, with a 24-hour increase of 24.92%, leading the altcoin market. ME currently has a circulating market cap of $325 million, ranking 178th in the entire market.
This morning, Magic Eden officially announced its collaboration with the TRUMP Meme Coin official to launch a TRUMP encryption wallet, a message confirmed by the official TRUMP Meme Coin X account. ME surged over 30% in response, reaching a short-term price peak of $1.16.
Subsequently, Donald Trump Jr., co-founder of WLFI and eldest son of Trump, clarified in a post that "the Trump Organization has no connection to this wallet product (developed in collaboration with Magic Eden and TRUMP Meme). Eric Trump and I are completely unaware of this. Please continue to follow the team that has been working hard on World Liberty Financial, as we will soon launch our official wallet." As a result of this news, ME briefly fell by over 10%.
As of this writing, there is no further news in the market regarding Magic Eden or Trump's crypto team.
ANIME Animecoin (+13.35%, circulating market value 175 million USD)
According to Gate.io market data, the current price of ANIME token is 0.308 USD, with a 24-hour increase of 13.35%. Previously, ANIME had risen for 4 consecutive days. The current circulating market value of ANIME is 175 million USD, ranking 262nd in the entire crypto market.
Animecoin is a cryptocurrency project focused on anime culture and creator economy, aiming to support anime content creation, distribution, and interaction with fans through blockchain technology. Its ecosystem typically includes NFT marketplaces, decentralized funding platforms, and community-driven creative incentives that encourage a direct connection between anime artists and fans. The ANIME token is used in the ecosystem for payment, tipping, governance voting, etc., to help creators monetize content and enhance user participation. At the time of its launch, ANIME had airdropped a large number of tokens to Azuki, an established NFT project.
The future performance of the ANIME token will depend on the development of the Animecoin ecosystem, user growth, and the actual integration with the anime industry. If the project can continuously attract high-quality creators to join and launch appealing NFT or content platforms, ANIME is expected to secure a place in the Web3 ACG track. Additionally, as interest in Web3 content platforms rises in Japan and the Asian region, if Animecoin can combine IP collaboration or cross-industry marketing, it may gain broader recognition and liquidity.
HYPE Hyperliquid (+2.64%, circulating market value 12.34 billion USD)
According to Gate.io market data, the current price of HYPE token is $36.92, with a 24-hour increase of 2.64%, just one step away from the historical high of $39.70. The increase of HYPE in the past month is 84.56%, performing the best among the top 50 tokens by market capitalization. Currently, the circulating market cap of HYPE is $12.34 billion, ranking 11th in the entire market. According to Defillama data, Hyperliquid's trading volume in the past 30 days reached $246.1 billion, accounting for about 65% of the total market trading volume during the same period.
According to the official announcement, 100% of the revenue from the Hyperliquid platform is used to buy back and destroy HYPE, creating a closed loop of increased trading volume, enhanced buyback efforts, and improved token scarcity. The current highly active trading ecosystem is accelerating this cycle, and if the momentum continues, the amount of HYPE destroyed is expected to reach a historic peak, becoming a key driving force to break through previous highs.
Current data indicates that Hyperliquid's leading position and the synergy of its economic mechanisms have formed a self-reinforcing flywheel. Short-term value is driven by buyback intensity, while medium to long-term value is anchored by ecosystem penetration capability. If the current growth inertia is maintained, HYPE may enter the top 10 in terms of total market capitalization.
Alpha Interpretation
Pump.fun is going to conduct a $1 billion token sale.
According to Blockworks, two insiders revealed that Pump.fun plans to raise $1 billion through a token sale. The sources stated that the valuation for this token issuance will reach $4 billion. They added that the tokens will be sold to both public and private investors. Blockworks has not yet confirmed when the tokens will specifically go live or whether they will be issued on the Pump.fun platform. However, a post on X hinted that the tokens might be issued in the next two weeks.
If the valuation reaches 4 billion dollars, Pump.fun will become the latest "unicorn" startup in the encryption field, thanks to its significant role in the Meme coin craze that has emerged over the past year. Currently, the Pump.fun official has not responded to this.
As a key platform driving the Meme coin craze over the past year, Pump.fun's token issuance is not only topical but also possesses strong market appeal. Once the token issuance news is announced, it is bound to quickly attract market attention, especially in an environment where speculative sentiment is high. A large amount of capital may flow out from other projects into this one, seeking short-term arbitrage opportunities. In the current liquidity-sensitive market environment, Pump.fun's token issuance is likely to become the core event for the next round of capital accumulation, triggering a "water drawing effect" in the short term, putting certain pressure on small and medium-sized projects.
Falcon Finance stablecoin supply exceeds 500 million USD
According to official news, the synthetic dollar protocol Falcon Finance announced that the total supply of its synthetic dollar USDf has surpassed 500 million USD. As the comprehensive public testing of Falcon approaches, the market demand for this multifunctional asset continues to grow. According to data from the Falcon Finance official website, the total supply of USDf, which is pegged to the US dollar, has exceeded 529 million USD, with the current TVL reported at 589 million USD.
Falcon Finance demonstrates strong growth momentum and a clear value proposition. Users can over-collateralize BTC, ETH, and stablecoins to generate USDf, and further stake it as an interest-bearing token sUSDf, with the current annualized yield approaching 10%. Its revenue sources include funding rate arbitrage and cross-exchange price difference arbitrage. In addition, according to market news, Falcon Finance may launch a governance token in the future, which is expected to incentivize more market users to participate deeply.
Falcon's yield model relies on market arbitrage opportunities, which can lead to narrower profit margins if market volatility weakens or similar protocols increase. At the same time, the current global stablecoin regulatory rules have not yet been fully implemented, and concentrating reserve assets in Treasury bonds, as proposed by the United States, may limit Falcon's current advantageous strategy of emphasizing collateral diversity. In summary, Falcon is expected to expand its user base in the public beta phase in the short term due to its high-yield and compliant operation advantages. In the medium and long term, the success or failure of its development will depend on the impact of regulatory policies on the mortgage model, and whether the multi-chain deployment can effectively expand its market territory.
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References:
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