Hey there, crypto enthusiasts! If you’ve been keeping an eye on the latest trends in the blockchain world, you’ve probably heard about the $PUMP token and its explosive impact on onchain trading. On July 14, 2025, Ryan Watkins, a well-known voice in the crypto space, dropped a fascinating update on X that’s got everyone talking. Let’s dive into what’s happening and why it matters for the future of decentralized finance (DeFi).

The $PUMP Token Takes Off

In his tweet posted at 18:47 UTC, Ryan highlighted that just two hours into trading, the majority of $PUMP’s volume was settling onchain—specifically on Hyperliquid and Solana. Hyperliquid is leading the pack with an impressive $41 million in trading volume, while Bybit and PumpSwap are neck-and-neck at $35 million and $32 million, respectively. This rapid onchain activity is a big deal because it shows how quickly these platforms are becoming go-to spots for traders.

For those new to the term, "onchain" simply means transactions are recorded directly on the blockchain, making them transparent and decentralized. This is a shift from traditional offchain trading, where much of the action happens outside the blockchain and can be less visible.

Connecting the Dots: From ICO to Trading

This isn’t the first time $PUMP has made waves. Just a couple of days earlier, on July 12, Ryan noted that the token’s Initial Coin Offering (ICO) sold out in a mere 14 minutes, raising the majority of its funds onchain via Solana. This ICO ranked as the third largest in history, pulling in hundreds of millions. Now, that momentum is carrying over into trading, with onchain economies driving both the fundraising and price discovery phases. Price discovery, by the way, is the process where the market figures out a token’s value based on supply, demand, and trader sentiment.

Ryan’s follow-up tweet from the same thread emphasizes this trend: the same onchain systems that powered the ICO are now leading price discovery. It’s a full-circle moment for Solana and Hyperliquid, proving their scalability and speed are up to the task.

What This Means for Meme Coins and Beyond

$PUMP is a meme coin, a type of cryptocurrency often inspired by internet jokes or trends, like Dogecoin. While meme coins are known for their wild price swings, this case shows they can also drive serious onchain activity. The image shared by Tz⧉ in the thread gives a peek into the trading pools on Solana, with $PUMP-SOL and $PUMP-USDC pools showing hefty volumes of $178,802.25 and $80,407.45, respectively.

This surge isn’t just noise—other users like Chad Mongman pointed out that $200 million is flowing through Meteora, another platform, while Mike asked about Ethereum’s role, hinting at a broader conversation about which blockchains will dominate. For now, Solana and Hyperliquid are stealing the spotlight.

Why It Matters to You

If you’re a blockchain practitioner or just a curious investor, this trend is worth watching. The speed of $PUMP’s ICO and trading suggests that onchain systems are maturing, offering entrepreneurs a faster way to raise funds and traders a more transparent market. Plus, with meme coins like $PUMP leading the charge, it’s clear that even “fun” tokens can have a serious impact on blockchain adoption.

At Meme Insider, we’re excited to see how this plays out. Whether you’re building dapps or just hodling your favorite tokens, staying informed about these shifts can give you an edge. What do you think—will $PUMP keep pumping, or is this just the start of a bigger onchain revolution? Drop your thoughts in the comments!