Pump.fun Secures Kolscan Acquisition, Prepares for $600M ICO

Ahead of its initial coin offering (ICO), Pump.fun has secured its first-ever purchase by acquiring a Solana-based wallet tracker, Kolscan. According to the company, this latest rollout features an aggregated ranking of key opinion leaders (KOLs) based on their trading performance. And as such, it will allow users to closely observe and analyze the strategies of top investors within the Solana network.

Pump.fun Gears Up for $600M ICO with Kolscan Integration and Platform Upgrades

Pump.fun’s recent integration is part of the build-up to the imminent ICO scheduled to start on July 12. Earlier this week, the firm announced its plans to raise $600 million, valuing the company at $4 billion.

The platform’s co-founder, Alon Cohen, clarified that the latest product will remain free to the large user base it gathered before the recent purchase. Cohen also revealed that key upgrades are underway to improve the overall performance of the ecosystem.

Our integration will not only enable better products for both Kolscan and [Pump fun] users, but allow for totally new experiences that will change the entire onchain trading landscape.

In a Friday tweet, Cohen emphasized that the recent development aligns with his view of “onchain trading” being a social sport. He added that it’s also part of Pump.fun’s calculated efforts to gamify digital asset trading.

Further weighing in on the integration, Cohen noted that “you do it with your friends and compare yourself to the best.” According to him, project outcomes are decided by timing, belief, and the parties involved.

Meanwhile, the Pump co-founder expressed optimism in integrating Kolscan’s products, admitting that it is part of the platform’s goal of becoming a multi-billion-dollar crypto-focused social media protocol.

Pump Expands Social Trading Features Amid Rising Competition

Pump already has the groundwork for integrating user-focused social products, such as a live-streaming platform and incentive program for asset holders. Plans for improvements to Kolscan are also considered, with the aim of rewarding traders and improving copy trading for users.

Amid this recent ecosystem development, Pump.fun is facing strong competition from another token launchpad rival. For the first time since launch, the platform lost its sector lead to LetsBonk’s, with its market share dropping below 60%.

Coinbase Opens Pre-Market Trading for $PUMP as Solana Recovers Above $167

America’s largest crypto exchange, Coinbase, has announced that the $PUMP token is available for pre-market trading. This means that traders can test the tokens’ perpetual futures before mainstream listing.

Tokenomics regarding the Pump.fun ICO are as follows:

• The total token supply is 3 trillion tokens.
• About 33% of the total supply will be available during the upcoming ICO.
• Retail investors can access 15% of the ICO supply at $0.004 per token.

Meanwhile, Solana has recovered from its multi-month decline to trade within the green zone over the past week. At the time of writing, the asset is exchanging hands around $167, following an over 5% uptick in the recent intraday session.