Pump.fun buybacks cut 15% of PUMP supply as large token unlock approaches

Pump.fun reported annualized revenue of $344 million, generating about $944,000 per day over the past three months. The platform has spent more than $407 million on token buybacks, destroying 149 billion PUMP tokens and removing roughly 15 % of the total circulating supply.

At the same time, the protocol faces a major token unlock: 825 billion PUMP tokens (about 8.25 % of total supply, representing 20.23 % of the pre‑unlock circulating amount) are being released, valued at roughly $1.25 billion. Monthly buyback funding has fallen from 100 % of net fees to about 50 %, with the latest month’s buyback amount at $9.2 million, an 80 % drop from its peak. A previous burn removed 1.29 trillion tokens (12.9 % of supply). The upcoming unlock and reduced buyback capacity raise questions about price pressure, while the platform’s strong fee revenue continues to support its business model.