Bybit launches presale page for Pump.fun

Bybit launched a new presale page for Pump.fun just a day after Gate.io removed its own presale data. The PUMP token is expected to launch on July 15, following a three-day presale event.

The PUMP token, the long-awaited native asset by Pump.fun, was announced on Bybit. The exchange added a presale page just a day after Gate.io removed the presale link after about three hours. 

Bybit has also changed the expected ticker in its announcement. The Gate.io exchange prepared to sell and list with the PUMPFUN ticker, while Bybit is raising funds for the new asset with the simpler PUMP ticker. 

Soon after the exchanges launched their presale pages, Pump.fun finally confirmed the token launch, choosing PUMP as its official ticker. 

Bybit caps PUMP purchase to $500K per user

Bybit has announced the same presale parameters as Gate.io. The presale will offer 150 billion tokens at $0.004, aiming to raise $600M, down from a previous plan to raise $1B. 

The presale accepts USDC, USDT, SOL, and the wrapped token bbSOL. The minimum purchase per order is 0.4 USDT or USDC, or 0.003 SOL or BBSOL. The event will be open at 14:00 UTC on July 12, based on available screenshots.

However, links provided by influencers are not leading to the presale page, raising further doubts on whether the event will happen as announced.

Maximum investments can reach 200,000 USDT or USDC, or 1,500 in SOL equivalent. A single user can invest up to $500K in all allowed assets, split into multiple orders. The presale will continue for 72 hours, or until all tokens are sold, whichever happens first. The token distribution will happen 48 hours after the end of the presale.

In total, the platform will generate 1 trillion tokens, for a fully diluted value of $4B. 

Pump.fun still not confirming the presale

Despite the launch of presale pages, Pump.fun itself has not advertised the event. The information on the presale is only spreading on social media. 

The token event may be open only to international buyers. Based on listing pages, Bybit bars EU-based users from participating. 

Earlier, Gate.io revealed the event would require full KYC verification. US-based traders may also be left behind, as both Bybit and Gate.io are not officially regulated to operate in the USA, hence the reluctance to sell tokens. 

The wait for a Pump.fun token has gone on for a long time, with lingering speculations of a possible airdrop. However, the recent announcements are creating confusion and potentially lowering the credibility of the presale. 

The PUMP token will compete for attention with the newest meme platform, LetsBonk, which also launches promising trending memes. At the same time, Pump.fun activity is trending lower, with fewer launches and active token creators. 

Ahead of the presale, there are fears the over-hyped token may crash soon after launching. The limited presale, excluding some of the big crypto markets, may also favor insiders, who can snipe and quickly sell PUMP soon after the launch. 

The PUMP presale is compared to the PENGU event and other high-profile TGEs, which ended with significant losses. For some users, the presale event is another attempt to extract value from the Solana ecosystem, in addition to over $700M in fees from meme activity.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage