Pump.fun Acquires Kolscan Ahead of $1B ICO Push

Crypto memecoin creation platform Pump.fun has completed its first acquisition by purchasing wallet-tracking platform Kolscan, aiming to strengthen its ecosystem and attract users ahead of its initial coin offering (ICO) set for Saturday. Pump.fun announced the acquisition on Thursday, noting that Kolscan monitors onchain activities of top traders, provides real-time transaction data, profit tracking, and a leaderboard ranking trader performance. The move comes as Pump.fun faces rising competition from rival memecoin launcher LetsBonk while seeking to expand its influence before the ICO, which aims to raise $1 billion. Pump.fun Aiming to Gamify Onchain Trading with Kolscan Pump.fun co-founder Alon Cohen emphasized the acquisition’s alignment with his belief that “onchain trading is a social sport,” where memecoin traders actively compete with friends and compare strategies. “We believe that products that provide social insights/tools and gamify the trading experience are key to growing our ecosystem,” Cohen stated on X. Known for spearheading last year’s memecoin revival, Pump.fun allows users without coding skills to easily create tokens linked to social media trends, resulting in millions of dollars in daily revenue at its January peak, as per the data by DefiLlama. Cohen added that Pump.fun will enhance Kolscan functionality, focusing on improving the reliability and speed of tracking tokens, trades, and profit and loss data while making Kolscan free to use. Future plans include giving deeper insights into copytrading activities and refining the leaderboard to reward “real traders again, not just ‘KOLs’,” Cohen noted, emphasizing the goal of making Pump.fun a scalable crypto-native social media platform. Pump.fun previously experimented with livestreaming features but shut them down due to misuse; the platform revived the feature in April with moderation measures in place to support its social expansion. Pump.fun ICO Targets $1B Raise The acquisition arrives just before Pump.fun’s ICO for its “PUMP” token , which launches Saturday after weeks of leaks and speculation. PUMP will have a total supply of 1 trillion tokens, with 330 billion (33%) allocated for sale at $0.004 each, targeting a $1 billion raise. Of this, 180 billion tokens will go to institutional investors. Another 150 billion will be allocated for the public sale, confirming earlier reports from crypto exchange Gate.io. However, due to regulatory concerns, Pump.fun has banned ICO participation from investors in the US and UK. As Pump.fun pushes ahead with its expansion, the Kolscan acquisition is positioned to provide the platform with the social and analytical tools needed to attract and retain the next wave of onchain traders. The post Pump.fun Acquires Kolscan Ahead of $1B ICO Push appeared first on TheCoinrise.com .

Source: The Coin Rise