Zhu Su, founder of Three Arrows Capital, expressed the market view that "Pump.fun TGE has boosted the rise of SOL" for the following reasons:
Pump.fun itself does not hold a large amount of SOL, so it will not cause price pressure by selling SOL, eliminating the market's fear of "selling risk";
There is a misconception in the market about Pump.fun selling SOL. Users usually buy SOL in US dollars, participate in Pump.fun transactions and pay the SOL fee, and the platform then converts the SOL back into US dollars. This model is just a regular consumer business process and does not directly lead to a drop in the price of SOL;
Pump.fun's high revenues in the Solana ecosystem (such as $106 million monthly revenue in November) have attracted more market attention, highlighting Solana's potential as a high-performance blockchain. This not only attracts more developers to build projects on Solana, but may also drive the revaluation of SOL as an investment-grade consumer protocol;
Solana eco-investors involved in Pump.fun initial coin offering tend to put their money back into SOL after making a profit, further driving up its demand and price.
Pump.fun TGE further drives up demand and prices for SOL
2025-07-16 16:46:29
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