Markets are humbling but I believe this one was more foreseeable than your post would suggest. Here is our internal memo from prior to the ICO using only Blockworks Research data.
Ryan | Blockworks Research
Ryan | Blockworks Research29.7.2025
interesting thing re the PUMP ICO: both sides got *everything* wrong PUMP bears: “it’s the end of the trenches!” -> launchpad market revenue rockets to multi-month highs PUMP bulls: “Solana wealth effect!” -> PUMP goes down, no observable wealth effect either way Markets are incredibly humbling
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