Memecoin launchpad Pump.fun has officially introduced “Pump Advanced,” an upgraded trading terminal, while hinting at an upcoming token release.

During an X Spaces event on October 19, the Solana-based platform announced its latest offering, touting it as the “fastest trading terminal” in the memecoin space. One of the standout features of Pump Advanced is the ability for users to create a non-custodial wallet by simply logging in with their email, enhancing user control over their assets.

Pump.fun has made a bold claim that the new platform will feature 0% trading fees during the first month after launch. In addition, the upgraded terminal will include a variety of tools designed to help users keep track of meme coins in real-time. Among these features are mini charts, top holder statistics, and insights into social activity surrounding various tokens, all aimed at providing a more comprehensive trading experience.

Alongside the launch of Pump Advanced, the Pump.fun team teased the possibility of a new token, although they did not provide any specific timelines for its release. This news has stirred excitement within the memecoin community, as users eagerly await further details on what this new token might entail.

As Pump.fun continues to innovate and expand its offerings, it remains committed to providing a user-friendly and efficient trading environment for meme coin enthusiasts. The anticipation surrounding the new token and the features of Pump Advanced may very well set a new standard in the realm of memecoin trading.

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As of now, the Pump Advanced platform is fully operational. The main page showcases the latest meme coins from the launchpad, displayed on a chart that updates in real time as new coins are added to the Pump.fun ecosystem.

According to data from the analytics platform Dune, by October 21, Pump.fun has deployed over 2.5 million unique tokens since its launch in January 2024. Each meme coin is accompanied by mini charts that track the coin’s market progression, alongside live threads and information about coin holders.

The new platform also allows users to purchase meme coins directly from the main page through the “Quick Buy” button, streamlining the purchasing process. At the top of the site, users can view the meme coins that are “About to graduate” on a dedicated panel, providing insight into upcoming launches.

In September 2024, Pump.fun achieved a remarkable milestone, becoming the fastest-growing application by revenue in the crypto industry. The platform generated over $100 million in revenue within the first seven months of its release, highlighting its significant impact on the market.

The protocol has played a crucial role in the rise of meme coins in the crypto landscape, empowering anyone to create meme-inspired tokens on Solana’s blockchain. Once developers launch a new coin, it trades on a bonding curve until its market cap exceeds $69,000, ensuring a dynamic trading environment.

As Pump.fun continues to evolve, it remains a game-changer for both developers and traders, fostering a vibrant community around meme coins and enhancing accessibility within the crypto space. With its innovative features and rapid growth, Pump.fun is setting a new standard for launchpads in the memecoin market.

DYDX Surges Amid Whale Selloff: A Top Gainer in the Market

DYDX surged 29% amid a whale selloff, emerging as the top gainer. The native token of dYdX, a decentralized trading platform, demonstrated an impressive rally despite the ongoing whale selloff.

Recent Performance

In the last 24 hours, dYdX jumped 29%, trading at $1.28 at the time of writing. Its market capitalization is approximately $820 million, with a daily trading volume reaching $350 million token.

Whale Activity

The asset experienced a notable increase in large holder outflows after hitting the $1.31 mark for the first time since late July. According to data from IntoTheBlock, dYdX saw a whale inflow of 6.42 million tokens and an outflow of 6.82 million tokens, resulting in a net outflow of 401,270 DYDX on Sunday, October 20. Such sudden increases in large holder outflows typically indicate panic selling; however, this selloff was countered by heightened accumulation, as dYDX reached a three-month high of $1.33 later that same day.

Exchange Inflows and Investor Sentiment

Conversely, DYDX exchange inflows have been on the rise since October 18. Data from ITB revealed that nearly 600,000 DYDX tokens flowed into centralized exchanges yesterday, suggesting that more investors may be seeking to take profits before the price declines further.

This trend is understandable given that 91% of DYDX holders are currently at a loss, while only 9% are in profit. Some investors may be looking to minimize their losses, particularly since the asset is still down approximately 72.5% from its all-time high of $4.53 recorded in March.

Leadership Changes

On October 10, the company’s CEO, Antonio Juliano, returned after a six-month hiatus during which he held the chairman role. He remarked, “Vision is essential to unite and inspire. During my time away from dYdX, execution went well, but I noticed that everyone slowly started to ask, ‘Wait… what are we really doing here again?’” His return comes at a critical time as the platform seeks to reaffirm its direction and engage its community more effectively.

Conclusion

As dYdX continues to navigate the volatile crypto landscape, the resilience of its token amid significant market fluctuations highlights the ongoing interest and investment in decentralized trading platforms. The combination of whale dynamics and holder sentiment will be crucial to watch as the platform evolves in the coming weeks.