Solana News Today:

Pump.fun, a leading platform in the Solana (SOL) ecosystem for launching memecoins, has executed a significant buyback of its native token, PUMP, in a move that appears to be stabilizing the asset’s price. Over the past several weeks, Pump.fun has repurchased more than $72 million worth of PUMP tokens, with the latest buyback occurring between August 28 and September 3. The initiative saw the platform allocate 98.23% of its weekly revenue to repurchase $12.19 million in tokens, contributing to a 5.36% reduction in the circulating supply of PUMP. The buybacks have been part of a broader strategy to counter sell pressure and improve investor confidence in the token [1].

The impact of these buybacks has been visible in the token’s performance. The PUMP token has seen a notable price rebound, rising from support near $0.0027 to $0.00432 by September 4, representing an 8% increase over the period. This price action stands out as the broader cryptocurrency market experienced a correction, with the total crypto market cap declining by 2.2%. PUMP’s resilience has positioned it as one of the few altcoins showing bullish momentum amid the downturn [2].

Pump.fun has also strengthened its dominance in Solana’s memecoin launchpad space. According to Jupiter data, the platform now controls 75% of Solana’s meme coin activity, minting nearly 26,997 tokens in a 24-hour period with a trading volume of $588 million. This is significantly higher than the $80 million in trading volume recorded by rival platform LetsBONK.fun during the same timeframe. The buyback program and consistent performance have reinforced Pump.fun’s position as the primary launchpad for new tokens within the ecosystem [3].

In addition to its buyback strategy, Pump.fun has launched Project Ascend, a significant platform update aimed at improving the sustainability of token launches. The initiative introduces Dynamic Fees V1, a tiered fee structure that reduces creator costs as projects scale, thereby encouraging long-term engagement. This move is intended to incentivize creators and reduce the prevalence of short-term speculative activity that often characterizes memecoin projects. The announcement of Project Ascend triggered a 14% surge in PUMP’s price, further bolstering the token’s recovery [4].

The platform’s aggressive buyback and strategic initiatives have not gone unnoticed by investors or competitors. Despite facing competition from emerging platforms like LetsBONK, Pump.fun has maintained its leadership position, reclaiming the top spot in market share. The platform’s continued dominance is supported by its substantial on-chain activity, including a growing number of unique PUMP token holders, which has now surpassed 70,800. Notably, smaller wallet holders now account for nearly half of the token’s distribution, indicating broadening retail participation [1].

Pump.fun’s actions have also drawn regulatory scrutiny. A class-action lawsuit filed in January 2025 accused the platform of using aggressive marketing tactics to create artificial demand for volatile tokens. The lawsuit, which was amended in July, described the platform as an “unlicensed casino” and claimed investor losses reached $5.5 billion. Despite these legal challenges, Pump.fun has continued to execute its buyback strategy and platform enhancements, signaling confidence in its long-term vision [1].

Source:

[1] Pump.fun spends over $62M on buybacks to boost PUMP ... (https://cointelegraph.com/news/pump-fun-62m-buybacks-pump-token-price)

[2] Pump.fun Announces Another Buyback as PUMP Price ... (https://coingape.com/pump-fun-announces-another-buyback-as-pump-price-rises-8/)

[3] Pump.fun Purchased Over $12M in $PUMP Last Week ... (https://coinpedia.org/news/pump-fun-purchased-over-12m-in-pump-last-week-triggering-bullish-rebound/)

[4] Solana Meme Coin Launchpad Pump.fun Rolls Out “Project ... (https://finance.yahoo.com/news/solana-meme-coin-launchpad-pump-214916758.html)