Ansem: PUMP Price Could Rise 10 to 15 Times

Ansem stated that token buybacks may not effectively support valuations. Hyperliquid has an annual revenue of approximately $800 million, while Pump.fun has an annual revenue of about $440 million, both using part of their profits to buy back tokens. However, HYPE's fully diluted valuation (FDV) is around $65 billion, while PUMP's is only about $1.4 billion. He believes that the valuation difference between the two mainly stems from the "trust premium" created by team behavior and market decisions. Hyperliquid maintains a high level of trust by continuously launching products and rewarding core users based on preset metrics. In contrast, Pump.fun has generated approximately $1 billion in revenue and raised $1 billion through an ICO, but has not fulfilled its promise of user airdrops. Ansem believes that if the project fulfills its airdrop commitments and addresses the concerns of core users, the price of PUMP could rise 10 to 15 times, driving growth in platform trading volume, attention, and revenue. He cited Bitcoin as an example, pointing out that Bitcoin's market capitalization is about $1.3 trillion, with its value derived from a fixed supply of 21 million coins and network trust, emphasizing the importance of trust, meme effects, and attention in asset valuation.

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