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SecondLane has listed an equity interest in memecoin protocol Pump.fun at a fully diluted valuation (FDV) of $1.5 billion, according to its platform.
The private markets trading platform listed the 1% equity stake in Pump.fun for $15 million on SecondLane’s web <a data-ct-non-breakable="null" href="https://app.secondlane.io/pump-fun-pf-281124" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://app.secondlane.io/pump-fun-pf-281124">app</a> and on a Telegram channel where SecondLane announces new offerings.
The popular Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/solana-price-index">SOL</a>) memecoin platform has not yet launched a native token. It has previously taken equity investments from Alliance DAO, Big Brain Holdings, and 6th Man Ventures, according to data from <a data-ct-non-breakable="null" href="https://pitchbook.com/profiles/company/593602-12#overview" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://pitchbook.com/profiles/company/593602-12#overview">Pitchbook</a>.
<figure><img alt="SecondLane shops Pump.fun equity stake at $1.5B FDV" src="https://s3.cointelegraph.com/uploads/2024-11/0193748d-1197-7433-93fb-b2375afd09e7" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://app.secondlane.io/pump-fun-pf-281124" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://app.secondlane.io/pump-fun-pf-281124">SecondLane</a>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-teases-future-token-reveals-new-trading-terminal" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/pump-fun-teases-future-token-reveals-new-trading-terminal">Pump.fun teases future token and reveals new trading terminal</a>
In October, the team behind Pump.fun tipped plans for a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-teases-future-token-reveals-new-trading-terminal" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/pump-fun-teases-future-token-reveals-new-trading-terminal">future token release</a> and a newly upgraded trading terminal, dubbed “Pump Advance.” No specific timeline for the future token launch was given by the Pump team.
<a data-ct-non-breakable="null" href="https://defillama.com/fees" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://defillama.com/fees">According</a> to DefiLlama, Pump.fun was the eighth highest-earning blockchain protocol, ranking just below giants such as Circle, USD Coin’s (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/usdc-price-index">USDC</a>) issuer, and Uniswap, the decentralized exchange (DEX). In the past 30 days, Pump.fun generated $86 million in fee revenue.
<figure><img alt="Venture Capital, Fees, Tokens, ICO, Solana, Memecoin" src="https://s3.cointelegraph.com/uploads/2024-11/01937493-1dfc-706d-a015-f0edc62e7538" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/categories/meme-token" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.coingecko.com/en/categories/meme-token">CoinGecko</a>
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Pump.fun’s performance comes from a memecoin trading frenzy that has largely taken place on Pump.fun’s native Solana, a layer-1 blockchain. Its cumulative fee revenues exceed $225 million, according to DefiLlama.
Fuelled by venture capital funding and political speculation, memecoins now command upward of $122 billion in market capitalization, according to CoinGecko.
Pump.fun promises to let users “launch a coin that is instantly tradeable for under $2 in one click,” and its “For You algorithm uses your past actions on pump dot fun to curate a feed that changes in real-time,” according to the platform’s X <a data-ct-non-breakable="null" href="https://x.com/pumpdotfun?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" rel="noopener noreferrer nofollow" target="null" text="null" title="null">account</a>.
<a data-ct-non-breakable="null" href="https://dune.com/evelyn233/pump-data" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Data</a> from Dune Analytics revealed roughly 98% of prospective memecoins on the Pump.fun platform <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/memecoins-pump-fun-99-percent-fail-launch" rel="noopener noreferrer nofollow" target="null" text="null" title="null">never successfully launch</a>.
Memecoins have drawn mixed reactions from the crypto community. Some influencers, like Murad Mahmudov,&nbsp;<a data-ct-non-breakable="null" href="https://x.com/MustStopMurad/status/1839732601759641960" rel="noopener noreferrer nofollow" target="null" text="null" title="null">argue</a>&nbsp;that memecoins provide a legitimate use case for crypto by removing the speculation premium from altcoins.
Others, such as Jimmy Song,&nbsp;<a data-ct-non-breakable="null" href="https://x.com/jimmysong/status/1788197172984291513" rel="noopener noreferrer nofollow" target="null" text="null" title="null">believe</a>&nbsp;that memecoins are a net negative for investors and represent the height of speculative gambling.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/base-meme-coins-scams-vulnerabilities-honeypot/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">1 in 6 new Base memecoins are scams, 91% have vulnerabilities</a>

SecondLane shops Pump.fun equity stake at $1.5B FDV

Cointelegraph

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