The price of PUMP has nosedived after co-founder Alon Cohen revealed that the highly anticipated airdrop isn’t happening anytime soon. The announcement came during an interview with ThreadGuy and immediately triggered a wave of panic selling. The crash also comes amid broader market weakness, with Bitcoin hovering just above $117,000 and investors closely watching its next move.
Altcoins are losing steam: XRP is down 12%, Solana has dropped 8%, while Ethereum is holding up slightly better with a 3% dip.
Within hours of Alon’s statement, two early investor wallets offloaded a combined 1.25 billion PUMP tokens, worth around $3.81 million, at an average price of $0.00305. According to on-chain data, the whales exited with over $1.19 million in realized losses.
2 wallets (likely private sale investors) sold 1.25B $PUMP($3.81M) at $0.00305 in the last 2 hours, losing $1.19M.https://t.co/5tx1g9vs6Lhttps://t.co/msm0ONmniu pic.twitter.com/glyBDgHfL8
— Lookonchain (@lookonchain) July 24, 2025
This strong sell-off wiped out short-term gains after PUMP had found a temporary floor near $0.0036 earlier in the week. The token is now down over 24% in the past 24 hours and nearly 56% from its ATH.
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Pump Crypto Faces Backlash as Airdrop Delay Erodes Community Trust
Community frustration has grown steadily as Pump.fun delays details of the airdrop promised during its record-breaking $600 million ICO. While Alon confirmed that an airdrop will happen, he stressed that the team is prioritizing long-term ecosystem development over immediate token rewards.
We want to make sure that it is a meaningful airdrop and it is executed well. That being said, the airdrop is not going to be taking place in the immediate future.”
But this decision is controversial. When you launch a token and promise an airdrop, it’s supposed to reward early supporters: the people who helped you build momentum. Delaying it indefinitely opens the door to airdrop farming and undermines trust. Waiting a year to reward loyal users defeats the whole purpose.
The decision to delay, paired with whale exits at a loss, suggests diminishing confidence in short-term price action.
Pump.fun, for now, remains a dominant force in Solana’s token ecosystem, having generated $774 million in revenue and launched over 12 million tokens. But unless the team restores community trust and delivers on its promises, PUMP may continue to face downside pressure, especially with newer competitors like LetsBonk gaining ground.
U.S. Government Still Holds $24B in Bitcoin, Rumors Debunked
Arkham Intelligence confirmed the U.S. government still holds about 198,000 BTC, worth roughly $24 billion, refuting rumors it had sold 85% of its crypto assets. The speculation began after a FOIA request revealed the U.S. Marshals Service holds only 29,000 BTC, sparking concerns of a mass sell-off.
However, Arkham clarified that other agencies like the FBI, DOJ, and DEA also manage large Bitcoin reserves that were not included in the FOIA data.
The holdings place the U.S. well ahead of other governments. The U.K. holds about $7B, and Bhutan around $1.3B in Bitcoin. While the stash represents just 0.065% of the $37 trillion U.S. national debt, it highlights growing institutional recognition of crypto as a sovereign asset. Importantly, none of the U.S. government’s BTC has moved in the past four months.
SNORT Presale Heats Up as Meme Coin Traders Gear Up for Altcoin Season
With meme coin market cap rebounding past $80B, traders are bracing for what could be a full-blown altcoin season. Snorter Bot Token (SNORT) positions itself at the center of this trend, offering a Solana-native Telegram bot that snipes meme coins at lightning speed.
Backed by $2.3M in presale funds, it delivers sub-second trade execution, 0.85% fees, and MEV protection. Snorter helps users catch early breakouts before tokens hit DEX trackers. And since SNORT fuels the bot’s key features, owning it could be the best way to both spot and buy the next 100x meme coin.
Bitcoin ETFs See Outflows as BTC Reclaims Again $118K
U.S. spot Bitcoin ETFs recorded $86 million in net outflows on July 23, continuing a three-day streak of losses. Fidelity’s FBTC led with $227 million out, while ARK and Bitwise saw smaller pullbacks. BlackRock’s IBIT stood out with $142 million in inflows, partly offsetting the dip.
Bitcoin is currently trading around $118,710, about 3.54% below its all-time high. After a strong rally, BTC has gone mostly sideways this week, sparking debate over whether momentum is fading.
Meanwhile, Ethereum ETFs are gaining strength. On the same day, ETH ETFs brought in $331 million, their 15th straight day of inflows, led by BlackRock’s ETHA. Despite this, ETH slipped to around $3,540, now trading at $3,646, down 3% on the day.
Market sentiment remains mixed, but analysts believe the broader bullish structure is still intact.
Solana Crypto Price Touched $200 Before -9% Sell Off: Best Crypto to Buy Now?
Solana has been on a wild ride recently, surging more than 10% from $180 to $200 in 3 days. This all happened before an overnight sell-off, which saw SOL retrace the entire move. With the market on a slight dip, many traders are wondering, ‘What is the best crypto to buy right now?’
XRP Reclaims $3 After 16% Drop – Is the Rally Losing Steam?
XRP has been one of the top-performing altcoins this cycle, gaining 72% over the past month. But after reaching a local high of $3.67, the token dropped sharply to $2.96 in the last 24 hours before bouncing back above $3, now trading at $3.05.
On-chain signals suggest that XRP’s rally could be cooling off. First, data from CryptoQuant shows XRP’s exchange reserve on Binance hit a yearly high of 2.98 million tokens worth over $10 million. When coins move to exchanges, it often signals selling intent.
XRP’s taker buy/sell ratio has stayed below 1 since July 10, currently at 0.88. This means futures traders are selling more than buying, adding to the bearish pressure.
While XRP remains one of the strongest altcoins of the cycle, these indicators point to a possible short-term correction. If selling continues, and XRP price breaks the $2.95 level, the next support lies near and $2.65.
The post PUMP Price Crashes Amid Airdrop Delay As BTC Fights to Hold $117,000 appeared first on 99Bitcoins.
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