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Each coin on Pump is a fair launch with no pre-sale and no team allocation,” its site says.The ease of usage means new tokens are created nearly every other second.
CoinDesk calculated a total of 35 issuances in a one-minute period in Asian morning hours on Tuesday, although this figure is likely to wildly change based on timezones and interest in new types of memes.While there are likely tens of thousands of tokens that have been released on Pump since its March launch, only a few have reached market capitalizations of more than $10 million.The largest tokens so far are Shark Cat (SC), a cat wearing a shark cap, and Hobbes, named after the cat of popular Solana trader Ansem, with valuations of $100 million and $35 million, respectively.Cat memes are a popular draw for issuers, although popular Pump tokens range from a can of Arizona Iced Tea and Lord of the Rings character Gandalf to a pixelated image of a rubber duck.Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
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