- Bybit hosts the Pump.fun token sale, barring EU users.
- Token priced at $0.004 USDT.
- Solana and stablecoins are accepted payment options.
The Pump.fun token sale is significant because it reflects the immediate influence of the European Union’s MiCA regulation, impacting the accessibility of crypto sales for EU users.
Pump.fun is a no-code memecoin launchpad built on Solana. Bybit, the second-largest crypto exchange by trading volume, is hosting the PUMP token sale, priced at $0.004 USDT per token.
Bybit has restricted access for EU users registered via its MiCA-compliant site. The token sale involves USDT, USDC, SOL, and bbSOL. Gate.io erroneously posted then retracted an unconfirmed $600M sale page.
The sale impacts Solana’s trading ecosystem, accepting stablecoins and Solana assets. Under MiCA compliance, Bybit excludes EU users. Pump.fun’s volume has dropped 75–80% since January, hinting at changing memecoin trends.
EU regulatory moves like MiCA affect crypto sales regionally. Historically, memecoin sales drive initial booms, but trends suggest potential for volatility and volume drops post-launch.
Market implications include the role of PUMP and Solana in payment options. Compliance with MiCA illustrates growing EU regulatory impact on crypto transactions globally.
Memecoin sales historically illustrate initial boosts with high volatility and subsequent trading volume falls. Bybit’s restriction aligns with this, underscoring regulatory challenges and fluctuating market engagement.
“Users registered through its European Union–regulated platform, Bybit.eu, will not be able to participate, citing compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).” – Bybit, Official Statement
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