Binance has officially launched trading for PUMP with its Futures platform transitioning the PUMP/USDT perpetual contract from pre-market to a standard USDⓈ-M contract as of 17:20 UTC on July 14, according to the exchange’s Alpha trading page.
The migration process, which may take up to one hour depending on spot price stability, ensures uninterrupted trading while preserving all open orders and positions, according to an official announcement.
The move comes after the cryptocurrency’s full integration into Binance’s derivatives marketplace, providing traders with enhanced liquidity and risk management options.
PUMP ICOs’ Buzz Attracts Criticism
The launch of cryptocurrency on Binance follows its highly successful $500 million Initial Coin Offering (ICO) conducted by Pump.fun, which sold out in just 12 minutes over the weekend. The memecoin platform allocated 33% of PUMP’s 1 trillion max supply to the public sale, with 18% going to institutional investors and 15% to retail participants.
Another 24% was earmarked for ecosystem development, while 13% was reserved for existing backers. The overwhelming demand shows a possible resurgence of both the memecoin sector and ICOs, which has declined under former SEC Chair Gary Gensler’s regulatory crackdown.
Binance’s decision to list crypto’s perpetual contract further legitimizes the token. Pump.fun’s token has surged 87% above its $0.004 ICO price since its July 12 debut, reaching a fully diluted valuation (FDV) of $7.48 billion.
Currently, 206 billion tokens are in circulation, placing its market cap at $1.54 billion. The Solana-based memecoin traded at $0.0074 and is listed on BingX, LBank, and DEXs like Meteora.
Despite a 38% drop from its high, the cryptocurrency remains 20% above its post-ICO low. Its volatile yet bullish start highlights the ongoing appetite for high-risk memecoins, though long-term sustainability depends on community engagement.
However, Pump.fun’s ICO has attracted criticism, comparing it to a “liquidity extraction.” Some critics warned that it could drain capital from the broader memecoin market.
Crypto researcher @rezxbt, stated on X,“The tokenomics screams grift from all angles, extracting over $1B through the ICO after generating $750M revenue over the past year without investing a dime in the ecosystem.”
“The team is hoarding over 40% of PUMP token and is now offering sale to the same community that supported Pump.fun and generated an obscene amount of money in revenue,” users added further.
Also Read: Grayscale Files for US IPO With SEC, Marking Major Crypto Market Move
