PUMP jumps 14% after Binance US opens trading
PUMP token climbed 14% in 24 hours after Binance.US added the asset and opened deposits. Trading on the PUMP/USDT pair launched at 7:00 a.m. EDT on September 10.
Binance.US opened deposits before the trading session started, allowing customers to fund accounts before trading began on the PUMP/USDT pair. Additional features including Buy & Sell Crypto, Convert, and OTC services will become available approximately 24 hours after launch, though timing may be subject to change.
The token reached approximately $0.0054 as Binance.US began spot trading at the scheduled time. PUMP's market capitalization sits around $1.9 billion, with 24-hour trading volume exceeding $300 million. The token has gained roughly 40% over the past week, with the Binance.US listing contributing to the recent momentum.
PUMP serves as the native token for Pump.fun, a popular Solana-based platform that enables users to create and trade tokens through an automated bonding-curve system. The platform's user-friendly approach eliminates the need for liquidity pools or coding knowledge, making token creation accessible to a broader audience.
The PUMP token’s path to major exchange listings began with a strategic three-day token sale hosted by Kraken in July. The sale offered 150 billion PUMP tokens – representing 15% of the total supply – at $0.004 per token, implying a $4 billion fully diluted valuation with no lock-up period. Kraken subsequently launched PUMP spot trading on July 14.
Following its July launch, Pump.fun's token quickly achieved multi-billion-dollar valuations during its debut month, driven by heavy retail interest connected to Solana's thriving memecoin trading activity. Despite volatility surrounding the initial offering period, the protocol has continued attracting users who create and trade new tokens on the platform.
Tokens on Pump.fun often graduate to Solana decentralized exchanges after hitting specific market-cap thresholds. Binance.US describes the project as a hub for community-driven token launches and experimentation.
Binance.US access varies by jurisdiction, which affects how many U.S. traders can participate. The exchange currently lists the states and territories where service is unavailable, including New York, Texas, Washington, Vermont, and others. Kansas and Wisconsin operate under "crypto-only" status, meaning USD services are not available in these states.
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