Gate.io Don Remove Pump.fun Token Sale Page Before July 12 IEO
Gate.io don waka remove di Pump.fun token sale page weh dem plan for July 12 IEO without warning. Di 72-hour sale of 150 billion PUMP tokens wey dem set for $0.004 each—aim for $600 million raise and a $4 billion fully diluted valuation—now dey give 404 error. Neither Gate.io nor Pump.fun don talk anything about the removal.
Pump.fun token sale suppose run for Solana, one popular blockchain for memecoins. Pump.fun, di launch platform, don help create over 11 million tokens and make about $700 million revenue, with daily peaks of $7 million. Di sudden cancellation make people dey ask wetin dey happen inside and if external pressure dey, as Pump.fun dey face regulatory wahala including UK FCA ban and one U.S. class-action lawsuit.
Di status of Pump.fun token sale no clear till dem drop official update.
Bearish
Di sudden cancellation of Pump.fun token sale dey shake trader confidence and bring uncertainty about the IEO. For short term, this cancellation fit cause negative feeling and price pressure on PUMP because momentum don lost and questions no get answer. For longer term, ongoing regulatory watch and no clear plan for relaunch fit still make market trust go down and stop any comeback.