Pump.fun has permanently burned approximately $370 million worth of PUMP tokens and launched a 50% buyback-and-burn plan.

BlockBeats News, April 29th, Pump.fun officially announced that all PUMP tokens accumulated through buyback have been permanently burned, with a value of approximately $370 million, accounting for 36% of the current circulating supply.

Pump.fun has also initiated a year-long programmatic buyback and burn plan, where 50% of the platform's revenue will be used for open market buybacks of PUMP tokens, which will be immediately burned. The remaining 50% of the revenue will be allocated to team operations, product development, ecosystem building, etc., to ensure the project's sustainable growth. Pump.fun stated that this move is aimed at rebuilding community trust, reducing the circulating supply, and increasing the token's long-term value.

According to HTX market data, the PUMP price has surged above $0.019, with a 24-hour increase of 7.1%.