Large cryptocurrency holders, often referred to as whales, have accumulated $3.6 million worth of PUMP tokens in the latest round of purchases, blockchain analytics firm Lookonchain reported.
PUMP accumulation by whales
Two sizable wallets recently collected a combined 572.56 million PUMP tokens. Among these, a whale identified as “netherlol” acquired 383.34 million PUMP for approximately $2.4 million. This marks netherlol’s first PUMP purchase in more than a year.
A separate wallet, labeled GnZqfY, withdrew 189.22 million PUMP tokens—valued at roughly $1.18 million—from the cryptocurrency exchange MEXC. Lookonchain noted that the wallet’s long-term intention is unclear, as there is no evidence suggesting it will hold PUMP for an extended period.
The combined $3.58 million purchase represents about 3% of PUMP’s daily spot trading volume, estimated at $121.4 million, according to the latest available data.
PUMP whales accumulated $3.6 million in tokens, with one major buyer making their first purchase in over a year and another withdrawing from MEXC, but their holding strategy remains uncertain.
PUMP trading surge and market dynamics
The whale transactions follow a notable increase in PUMP’s price. Over the past 24 hours, PUMP surged 18% and is currently trading near $0.006426, up 17.5% for the day. Over the last week, the token has rallied 46%, outpacing the broader crypto market.
Across the past 90 days, PUMP’s price has soared 294%, and since the start of 2026 it has climbed more than 235%. As a result of this run-up, the token’s market capitalization now stands close to $3 billion.
PUMP’s derivatives markets have experienced heightened activity, with more than $1.04 billion traded in PUMP futures in the last 24 hours. By comparison, spot market volume reached $121.39 million during the same period. This means PUMP futures turnover outpaces spot trading by a factor of 8.6.
| Metric | Value (24h) |
|---|---|
| Spot volume | $121.39 million |
| Futures volume | $1.04 billion |
| Futures/Spot ratio | 8.6 |
| Open interest | $672.28 million |
| Liquidations | $3.14 million |
Open interest, which indicates the total value of outstanding derivative contracts, stands at approximately $672.28 million. Liquidations for PUMP positions reached $3.14 million over the past 24 hours. According to CoinGlass, 78% of these were short positions, indicating that traders betting against PUMP faced the majority of losses.
Mini dictionary: CoinGlass is a leading crypto analytics platform that provides up-to-date data on derivatives markets, including open interest, funding rates, and liquidations for major digital assets.
PUMP’s price has demonstrated significant volatility. On October 3, Lookonchain reported that two major traders with a combined 707.6 million PUMP were liquidated after a rapid price drop, resulting in a loss of approximately $3.61 million.
Notable trader activity and recent profits
PUMP has attracted the attention of well-known onchain traders in recent weeks. One of the most prominent, Machi Big Brother, reportedly conducted 10 profitable trades with PUMP.
On September 30, Lookonchain stated that Machi Big Brother closed a long position in PUMP, realizing a gain of approximately $827,000 on that trade.
This surge in trading activity and price action has cemented PUMP’s position as a preferred asset for high-profile cryptocurrency traders.
