Whales Accumulate PUMP Tokens
Cryptocurrency whales purchased roughly $3.6 million worth of PUMP tokens in the last 24 hours, according to on-chain analysis firm Lookonchain. The data identifies two large wallets that accumulated a combined 572.56 million PUMP tokens during the period.
One of the wallets, identified by the username “netherlol,” purchased 383.34 million PUMP tokens. Lookonchain valued this specific purchase at approximately $2.4 million. The firm noted that this transaction marks the first time the “netherlol” wallet has bought PUMP in more than a year.
The second wallet, associated with the address GnZqfY, withdrew 189.22 million PUMP tokens from the MEXC exchange. This withdrawal is valued at roughly $1.18 million. Lookonchain stated that the intentions of the GnZqfY wallet remain unclear, noting that the entity might not hold the token for an extended period.
Price Performance and Market Cap
The $3.58 million in whale accumulation accounts for roughly 3% of PUMP’s total trading volume, which stood at $121.4 million during the measured period. CoinGlass data indicates that PUMP’s price spiked by 18% in the last 24 hours.
At the time of reporting, PUMP was trading at approximately $0.006426. This represents a 17.5% increase over the previous 24-hour period. Over the last seven days, the token rallied by about 46%, a performance that outstripped the broader cryptocurrency market.
Longer-term trends show substantial gains. PUMP increased by around 294% in the last 90 days. Since the beginning of 2026, the token has soared by over 235%. As a result, PUMP’s market capitalization has risen to approximately $3 billion.
Derivatives Volume and Liquidations
Derivatives activity for PUMP has been particularly intense. Futures trading volume exceeded $1.04 billion in the last 24 hours. In comparison, the spot market volume was $121.39 million over the same period. This means PUMP’s futures turnover is about 8.6 times larger than its spot turnover.
The asset’s open interest stands at around $672.28 million. According to CoinGlass, approximately $3.14 million worth of PUMP positions were liquidated over the past day. About 78% of these liquidations were short positions, indicating that the price movement was primarily driven by traders betting against the token.
On Oct. 3, a sudden drop in PUMP’s price liquidated two large traders. These traders held 707.6 million PUMP tokens, valued at around $3.61 million at the time of liquidation. The event highlighted the volatility present in the PUMP derivatives market.
Trader Performance
One prominent trader, known as “Machi Big Brother,” has made 10 profitable trades with PUMP in recent days. On Sept. 30, Machi closed a long position in the token and realized profits of approximately $827,000.
The combination of high futures volume, significant whale accumulation, and frequent liquidations illustrates the high-risk environment surrounding PUMP. While the token has seen substantial price appreciation since early 2026, the disparity between spot and futures volumes suggests that much of the trading activity is driven by speculative leverage rather than spot market demand.
Why It Matters
The disparity between $1.04 billion in futures volume and $121 million in spot volume indicates heavy speculative leverage in the PUMP market. With 78% of recent liquidations hitting short positions, retail investors face elevated risk of rapid price reversals. The accumulation by long-dormant whale wallets signals potential shifts in supply dynamics that could impact future price stability.
Stay Ahead of the Crypto Market
Get breaking Bitcoin, Ethereum & altcoin news the moment it happens. Free instant alerts.
