Pump.fun released another 4.85 billion PUMP tokens, worth roughly $13.6 million at current prices, to 124 wallets, according to on-chain data flagged by Lookonchain. The distribution is the latest in a series of scheduled unlocks the Solana-based token-launch platform has been working through since its token generation event.
The release comes on the heels of a larger tranche earlier in the month: 6.875 billion PUMP tokens, split between 4.17 billion for the team and 2.71 billion for early investors, unlocked on August 12 following a 12-month cliff and the start of a three-year linear vesting schedule. A further roughly 7.07 billion tokens were scheduled to enter circulation on August 14, putting the past week's combined unlocks well into the tens of billions of tokens.
This month's activity follows an even larger 82.5 billion token unlock in July, together representing roughly 1.75% of PUMP's circulating supply moving through vesting in a matter of weeks. The full release schedule, including cliff dates and linear-vesting terms for team and investor allocations, is tracked on Tokenomist's PUMP vesting page.
A Buyback Mechanism Working Against the Unlocks
Pump.fun has structured its revenue model to partly offset this steady stream of new supply: the platform splits protocol revenue 50/50 between token buybacks and operations, using half of everything it earns to purchase and burn PUMP from the open market. That creates a deflationary counterweight to the vesting unlocks, though whether buyback volume is large enough to absorb tens of billions of newly circulating tokens each month is the key variable determining how much price pressure the unlocks ultimately produce.
What Traders Are Watching
With unlocks arriving in a near-continuous cadence rather than a single cliff event, the practical risk for PUMP holders isn't one large shock but a sustained drip of new supply that the buyback program has to keep pace with. Wallets receiving large unlocked allocations, like the 124 addresses in today's release, are the ones worth watching for signs of whether recipients are holding or moving straight to exchanges.
