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- đł Daily Edition: PUMP Debuts with $5B Launch as BTC Breaks $120k
đł Daily Edition: PUMP Debuts with $5B Launch as BTC Breaks $120k
Pump.fun users eagerly await their airdrop as the token climbs over $5B, will this revitalize Solana or suck the last of the liquidity from the ecosystem?
Beluga & Will McKinnon
July 14, 2025
Say what you will about pump.fun, they sure know how to time a token launch. The PUMP token went live today as Bitcoin made a new ATH of $123k, currently sitting almost 40% over the public ICO price which saw $600M raised in just 12 minutes. With the presale tokens already unlocked, itâll be interesting to see how it trades â demand for pump.funâs product is objectively high, but this has been a particularly skittish market for new token launches and with the success of Bonkâs launchpad, pump.fun isnât the only game in town anymore. If youâre wondering about the PUMP airdrop, we still donât have a timeline, but my intuition tells me it will be worth the waitâŠ
24 Hour Crypto Heatmap, Source: CoinMarketCap
Today wasnât all about PUMP though, as we canât just gloss over the fact that Bitcoin now trades over $120k. The biggest driver of this price action has been the passive ETF bid, which have amassed over $150B in Bitcoin since the launch in January. This immense growth particularly in Blackrockâs IBIT has led to it becoming their most profitable ETF in operation with $85B in AUM, representing over half of the Bitcoin ETF market. Ethereum ETFs have not seen this explosive bid yet, however theyâve quietly accumulated 3.4% of the total ETH supply so far, up 20% since last quarter. While it may have lagged the BTC ETFâs, the ball is definitely rolling now. If we see Ethereum continue to climb, that could be the catalyst for the alt season weâve all been waiting for.
Despite still not offering Bitcoin to its clients, asset manager Vanguard has now become the largest shareholder of Michael Saylorâs Strategy.
The fact that Vanguard is now the largest shareholder of $MSTR is proof that God has a sense of humor, or at least that was my reaction to @VildanaHajric who wrote story about it out today
â Eric Balchunas (@EricBalchunas)
5:24 PM âą Jul 14, 2025
The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!
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