BTC $76,640.28 -0.80%
ETH $2,477.29 -1.85%
BNB $717.28 -1.52%
XRP $1.34 -1.71%
SOL $99.42 -2.50%
TRX $0.3385 -0.51%
DOGE $0.0825 -2.72%
ADA $0.2034 -1.96%
BCH $221.58 -2.15%
LINK $11.24 -2.30%
HYPE $77.63 -2.21%
AAVE $124.66 -1.13%
SUI $0.7010 -3.57%
XLM $0.1780 -1.10%
ZEC $1,063.08 -5.59%
AAPL $330.37 -0.80%
AMZN $254.63 -0.91%
GOOGL $334.76 -1.58%
MSFT $492.86 -0.62%
META $639.50 -1.48%
NVDA $214.35 -1.71%
TSLA $359.65 -2.24%
SNDK $1,551.74 -4.81%
INTC $98.24 -3.47%
SPCX $147.63 -1.76%
MU $933.38 -3.64%
AMD $498.50 -3.25%
BTC $76,640.28 -0.80%
ETH $2,477.29 -1.85%
BNB $717.28 -1.52%
XRP $1.34 -1.71%
SOL $99.42 -2.50%
TRX $0.3385 -0.51%
DOGE $0.0825 -2.72%
ADA $0.2034 -1.96%
BCH $221.58 -2.15%
LINK $11.24 -2.30%
HYPE $77.63 -2.21%
AAVE $124.66 -1.13%
SUI $0.7010 -3.57%
XLM $0.1780 -1.10%
ZEC $1,063.08 -5.59%
AAPL $330.37 -0.80%
AMZN $254.63 -0.91%
GOOGL $334.76 -1.58%
MSFT $492.86 -0.62%
META $639.50 -1.48%
NVDA $214.35 -1.71%
TSLA $359.65 -2.24%
SNDK $1,551.74 -4.81%
INTC $98.24 -3.47%
SPCX $147.63 -1.76%
MU $933.38 -3.64%
AMD $498.50 -3.25%

lock

All
Article
Flash

first_img Blockworks Analyst: PUMP valuation range is $0.0108 to $0.0205

Blockworks research analyst Shaunda Devens stated that the annual revenue of the Solana-based meme coin issuance platform PumpFun reaches $677 million, with the lowest weekly revenue fluctuations among the top ten protocols. The platform combines launchpad and DEX infrastructure while expanding the consumer layer, with daily trading volume on mobile and Terminal's front end increasing 5.6 times since early July. Cumulative revenue since 2024 has reached $1.37 billion, making it the second highest revenue-generating application this year after excluding stablecoin issuers, only behind Hyperliquid.Devens noted that PUMP is currently trading at a 2.8 times price-to-sales ratio, with its valuation range for PUMP between $0.0108 and $0.0205, equivalent to 2.3 to 4.4 times the current price. The programmatic buyback funded by 50% of revenue absorbs approximately 17.6% of the circulating supply at the current price, with about 77% of allocated insider tokens still unmoved. She mentioned that the team has a treasury of approximately $2 billion.She also stated that 96% of the revenue comes from tokens with a market cap of less than $1 million, with revenue priced in SOL at historical highs. PumpFun accounts for about 70% of the trading volume of Solana meme coins. The revenue for the second quarter was $85.2 million, with a run rate of $125.4 million in the third quarter, representing a 47% quarter-over-quarter growth, with the launchpad contributing $87.1 million and PumpSwap contributing $38.3 million. Daily active users on mobile increased from 5,600 to 34,100.

first_img The U.S. SEC plans to amend the transfer agent rules to allow blockchain ledgers to serve as official records of securities ownership

The U.S. Securities and Exchange Commission (SEC) proposed a new rule last week to comprehensively revise the transfer agent rules that have been in place for decades, explicitly allowing electronic databases, including blockchain ledgers, to serve as the official record of securities ownership for the first time. If approved, blockchain is expected to become the "master security document," replacing the off-chain parallel ownership records that tokenized securities currently rely on.Currently, many tokenized securities operate on two sets of records: on-chain token ledgers and official shareholder registers. Once the proposal is passed, issuers and transfer agents may no longer need to maintain duplicate records and reconcile them after each transfer, thereby reducing operational friction and the risk of inconsistencies between on-chain records and legally recognized records. Eli Cohen, Chief Legal Officer of the tokenized fund platform Centrifuge, stated that this proposal could transform the current "two-step" process into a "one-step" process, allowing the blockchain itself to act as the master security document.However, the proposal does not mean that tokenized securities are completely "permissionless." Joris Delanoue, CEO of the registered on-chain transfer agent Fairmint, pointed out that while the blockchain can remain open, assets must still comply with ownership and transfer rules, and regulatory controls such as identity verification and transfer restrictions are still embedded in the tokens. Transfer agents will still need to handle administrative matters such as shareholder death, inheritance, and legal notifications, with processing times potentially reduced from 3-5 days to 1 day. The 60-day public comment period for the proposal will end in early November.

Former Deputy Governor of the Bank of England Jon Cunliffe has joined blockchain payment company Fnality and serves as the Chairman of the UK entity

According to Bloomberg, Jon Cunliffe, the former Deputy Governor for Financial Stability of the Bank of England, has joined the blockchain payment company Fnality and will serve as the Chairman of its UK entity. Jochen Metzger, the former Director General for Payment and Settlement Systems of the German central bank, has been appointed as a member of the Supervisory Board of Fnality Europe and is expected to serve as its Chairman; Ron Berndsen, the former Head of Supervision and Head of Market Infrastructure Policy at the Dutch central bank, will also join the Supervisory Board.Fnality operates a wholesale payment system that allows banks to settle debts using central bank currency balances. Its pound sterling system, regulated by the Bank of England, went live in 2023 and is currently seeking regulatory approval to launch versions in US dollars and euros. Fnality states that the system is designed to support the tokenized trading of traditional assets such as stocks and bonds, enabling the synchronized flow of securities and payment funds across interconnected digital networks, thereby shortening settlement times and supporting round-the-clock trading. Fnality was established in 2019, with investors including major financial institutions such as Goldman Sachs, UBS Group, Santander Bank, Bank of America, and Citigroup.
app_icon
ChainCatcher Building the Web3 world with innovations.