Original Author: hoeem

Original Translation: AididiaoJP, Foresight News

This article was first published on September 12

Pump is the most successful crypto casino of all time, boasting an endless loyal user base.

This is a casino where you can profit because it has a buyback mechanism.

Every gambler, every streamer, every speculator generates fees as they flock in. And these fees do not disappear into some venture capital black hole; they are directly cycled back into PUMP's buyback.

You are not betting against the house. You are the house.

Upbit and Binance have just listed PUMP, and there has been some selling pressure. If you are cautious, here are some candlestick charts for reference:

Revenue Doesn't Lie

In the past week:

• Pump Revenue = $14 million
• Hype Revenue = $16 million

Weekly revenues are similar; however, Hype's valuation is 10 times that of Pump.

This mispricing will not last.

Early Stage of Streaming

Twitch is a $50 billion company, but it pays very little to its streamers. Pump will tokenize attention and pay out more rewards, and despite just beginning its journey in the live streaming space, it is expected to reach similar revenue levels.

$1 million in streamer token trading volume = $10,000+ in payouts.

• Annual Revenue: Pump ≈ $750 million, Twitch ≈ $1.7 billion.
• Market Cap Valuation: Twitch = $50 billion, Pump = ~ $2 billion.

Even a general level of acceptance would push Pump's revenue past $1 billion; this gap is absurd.

Since the emergence of this new method for creators to earn through tokens and live streaming, we have seen a surge in revenue.

This is happening amid a slump in Solana DEX trading volume, yet we still see pump.fun generating extremely high revenue.

Gambling Theme

Is risk appetite rising in the fourth quarter? Crypto gamblers are not flying to Las Vegas; they are betting on Pump's tokens.

Every bet on newly graduated tokens also means more fees.

More fees equal more buybacks.

More buybacks equal tighter supply.

This is the cycle.

Buyback Engine

Pump has already repurchased tokens worth approximately $85.37 million, which is 6.1% of the circulating supply.

Daily buyback amounts range from $1 to $2.5 million.

Monthly peak run rates are between $10 to $15 million.

For a token with a $2 billion market cap, this is a substantial market impact.

The liquidity of the core funding pool is only $20 to $30 million, and the impact of buybacks hits like a truck.

Creator Revenue Share Moat

Meme coins typically fade away after the hype, but creator revenue sharing solves this problem.

Creators now earn fees that are 10 times higher as their tokens grow.

Within just 24 hours of its launch, over $2 million was paid out to creators.

We can agree or disagree on the ethics of this; I don't care, it aligns with my Pump thesis: more fees, more revenue, more buybacks.

Chain Reaction:

• Pumpswap's trading volume surpassed Raydium + Meteora, with daily trading volume reaching $878 million.
• MEXC now lists one Pump ecosystem token every Monday.
• Developers stick around as their income grows with the project's scale.

This is how to build a moat.

Sentiment + Mindshare Shift

Charts don’t lie either.

Mindshare: After the crash in early July, Pump hit bottom but has continued to rise. Mindshare has rebounded from about 3% to over 6% and is still climbing, with attention market share compounding.

Market Sentiment: Even after the price crash post-ICO, sentiment has begun to trend upward, but there are still many skeptics.

People once surrendered, but since then, with the start of revenue and buybacks, they have reassessed the project.

When mindshare rises, sentiment shifts, and fundamentals improve, that is a signal of a trend change.

Ecosystem Expansion

Pump is not static; it is continuously adding features:

• 98% of revenue is cycled back into buybacks.
• Integrated with \\@bubblemaps for clearer token discovery.
• Loyalty airdrops retain users.
• Redefining memes as viral applications.

Each layer strengthens the flywheel effect.

Big Picture:

When Pump first launched, it was chaotic, prices plummeted, and everyone lost interest.

What about now?

• Revenue is compounding.
• Weekly buybacks.
• Mindshare and market sentiment are rising.
• Live streaming gambling themes are still in their early stages.

Pump is not just any casino.

It is the most successful crypto casino in existence.

It is a casino you can own through token buybacks.

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