{"id":25251,"date":"2025-07-10T21:26:02","date_gmt":"2025-07-10T18:26:02","guid":{"rendered":"https:\/\/forklog.com\/en\/pump-surges-above-ico-price-in-pre-market-traders-short-the-coin\/"},"modified":"2025-07-10T21:26:02","modified_gmt":"2025-07-10T18:26:02","slug":"pump-surges-above-ico-price-in-pre-market-traders-short-the-coin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pump-surges-above-ico-price-in-pre-market-traders-short-the-coin\/","title":{"rendered":"PUMP Surges Above ICO Price in Pre-Market; Traders Short the Coin"},"content":{"rendered":"<p>Four major cryptocurrency traders have opened short positions on PUMP, totaling $9.2 million, following the commencement of pre-market trading.<\/p>\n<p>Two investors placed 7 million USDC and initiated a short with low leverage, according to Lookonchain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2 wallets deposited 7M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDC<\/a> into Hyperliquid and shorted <a href=\"https:\/\/twitter.com\/search?q=%24PUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PUMP<\/a>(<a href=\"https:\/\/twitter.com\/pumpdotfun?ref_src=twsrc%5Etfw\">@pumpdotfun<\/a>) with 1x leverage.<a href=\"https:\/\/t.co\/RSOGbL1T43\">https:\/\/t.co\/RSOGbL1T43<\/a><a href=\"https:\/\/t.co\/1nmntMYOvv\">https:\/\/t.co\/1nmntMYOvv<\/a> <a href=\"https:\/\/t.co\/E3iwX1Dhxl\">pic.twitter.com\/E3iwX1Dhxl<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1943164919375085839?ref_src=twsrc%5Etfw\">July 10, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The wallet <a href=\"https:\/\/www.coinglass.com\/hyperliquid\">0xd9a1<\/a> opened a short position of $1.14 million with 3x leverage. Its potential liquidation price is set at $0.0249.<\/p>\n<p>The address <a href=\"https:\/\/www.coinglass.com\/hyperliquid\">0x58a8<\/a> entered a short position of $1.01 million with 1x leverage and collateral margin of $2.02 million.<\/p>\n<p>The PUMP pre-market launched on July 10 on <a href=\"https:\/\/app.hyperliquid.xyz\/trade\/PUMP\">Hyperliquid<\/a>. The coin is trading above the stated ICO price, approximately $0.0049.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeO62uNSE0GRGFHSjDVyiRqMDC9gP59qrd9nE2UFHqIQe28sp7scCDX8wwzTMOOPfjQ-h-cmNzpqKDJAKhPLkkcLvXtgPUb0lydyt7_44BB6ChCY6MhLZRFcZ3Ux7myuBOZVaM4kg?key=jwXBHteA2jaeibvS3aFHHA\" alt=\"PUMP Surges Above ICO Price in Pre-Market; Traders Short the Coin\"\/><figcaption class=\"wp-element-caption\">5-minute PUMP\/USD chart on Hyperliquid Exchange. Data: <a href=\"https:\/\/app.hyperliquid.xyz\/trade\/PUMP\">Hyperliquid<\/a>.<\/figcaption><\/figure>\n<p>Open interest in PUMP on Hyperliquid has risen to $51 million since the start of pre-market trading. Trading volume has exceeded $100 million.<\/p>\n<p>The token sale is scheduled for July 12 at 17:00 Kyiv\/Moscow time on centralized exchanges Bybit, Gate, Bitget, Kraken, Kucoin, MEXC.\u00a0<\/p>\n<p>However, for Binance users in the European Economic Area, access to the token sale <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/detail\/4bc8b483d10d4619babb2015066b2d89\">will be restricted<\/a> due to <a href=\"https:\/\/www.esma.europa.eu\/sites\/default\/files\/2025-01\/ESMA75-223375936-6099_Statement_on_stablecoins.pdf\">MiCA<\/a>.<\/p>\n<h2 class=\"wp-block-heading\">Launch Uncertainty<\/h2>\n<p>The crypto community is divided: some welcome potential listings and trading opportunities, while others criticize the platform for its negative impact on the industry.<\/p>\n<p>Several token creators have managed to earn high royalties through collaboration with Pump.fun.<\/p>\n<p>A user by the name of Ashcryptoreal <a href=\"https:\/\/x.com\/Ashcryptoreal\/status\/1930016618954051601\">stated<\/a> that the platform has turned altcoin investors into &#8220;memecoin gamblers,&#8221; pointing to $700 million in extracted profits \u2014 with most remaining at a loss.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">PumpFun has ruined crypto space, turned altcoin investors into memecoin gamblers, extracted $700 million while 99.99% people lost money and now they are planning to raise $1 Billion at $4B valuation.<\/p>\n<p>\u2014 Ash Crypto (@Ashcryptoreal) <a href=\"https:\/\/twitter.com\/Ashcryptoreal\/status\/1930016618954051601?ref_src=twsrc%5Etfw\">June 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The AIxbt_agent service also criticized the upcoming PUMP sale.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The market gives dying platforms inflated valuations just before they finally perish,&#8221; <a href=\"https:\/\/x.com\/aixbt_agent\/status\/1943155228238582138\">states<\/a> the post.<\/p>\n<\/blockquote>\n<p>On July 8, LetsBonk <a href=\"https:\/\/forklog.com\/en\/news\/letsbonk-surpasses-pump-fun-in-daily-revenue\">surpassed<\/a> Pump.fun in daily revenue, and 88% of the top 200 token creators <a href=\"https:\/\/x.com\/Adam_Tehc\/status\/1942479707712413990?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1942479707712413990%7Ctwgr%5E85325c84dbbaefac9ab46716f6674825d441db0b%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Fforklog.com%2Fnews%2Fletsbonk-prevzoshla-pump-fun-po-dohodu-za-sutki\">migrated<\/a> to the new launchpad.<\/p>\n<p>Back in May, experts <a href=\"https:\/\/forklog.com\/en\/news\/pump-funs-dominance-among-token-launch-platforms-faces-challenges\">suggested a weakening of Pump.fun&#8217;s dominance<\/a> as competitors launched and developed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four major cryptocurrency traders have opened short positions on PUMP, totaling $9.2 million, following the commencement of pre-market trading. Two investors placed 7 million USDC and initiated a short with low leverage, according to Lookonchain. 2 wallets deposited 7M $USDC into Hyperliquid and shorted $PUMP(@pumpdotfun) with 1x leverage.https:\/\/t.co\/RSOGbL1T43https:\/\/t.co\/1nmntMYOvv pic.twitter.com\/E3iwX1Dhxl \u2014 Lookonchain (@lookonchain) July 10, 2025 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1619,1715],"class_list":["post-25251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-pre-market","tag-pump-fun"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25251"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25250"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}