Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.
Today’s top news:
- Crypto majors slightly green with BTC leading +1% at $64.2k
- Bond yields hit multi-decade high, pausing stock rally
- ETH Foundation researchers prioritize privacy for Hegota upgrade
- Robinhood rolls out agentic trading for crypto (for select users)
- Ansem introduces new curated launchpad and z500 index
PUMP Token Surpasses Key Technical Indicator Amid Revenue Surge
Pump.fun’s PUMP token has experienced a challenging 10-month period after reaching $8B in September 2025. However, this trend appears to be reversing.
The token’s 50-day EMA has crossed above its 200-day EMA for the first time since its mid-2025 launch—a technical development known as the “golden cross.” The token reached a low of $0.001491 in July and briefly hit $0.003 on Monday before settling near $0.002733.
This movement reflects improving fundamentals. DefiLlama reports Pump.fun’s seven-day revenue at $11.52 million, ranking it fourth among all crypto protocols, trailing only Tether, Circle, and Canton. Annualized revenue now stands at $458 million against a $1.09 billion market cap—both metrics at their highest since February.
Revenue is critical for Pump due to its buyback mechanism. Half of all revenue is automatically allocated to token buybacks and burns via smart contracts, with $5.33 million invested in PUMP purchases last week alone. This has offset 15.9% of the total supply. Pump’s data shows fees from August 10–16 reached $10.74 million, a 7% weekly increase and the best since late January, with Tuesday’s $1.73 million marking the highest single-day revenue since January 30. The team has now bought and burned $429M of PUMP (28.58% of supply).
The team has also rolled out updates. On August 13, Pullout Rewards was launched, offering users daily payments based on the volume of token callouts they drive. Yesterday, app trading fees were reduced to 0% on Solana and 0.1% for crosschain transactions. These moves are leveraging their revenue advantage to undercut competitors like Axiom, GMGN, and Fomo on price while incentivizing user growth. This strategy is paying off, with weekly app traders up 23% and a new all-time high in daily active users recorded last Thursday.
Despite the broader cryptocurrency bear market, memecoins appear to remain a significant force. Recent mania on Robinhood Chain and other platforms suggests memecoins are here to stay. Pump is uniquely positioned to lead this segment in the next bull market. A major resurgence could be imminent…
Macro Crypto and Markets
- Crypto majors are slightly green with BTC leading; BTC +1% at $64.2k; ETH even at $1,900; SOL +1% at $76; HYPE even at $59.50
- Top alt movers include VVV (+19%), POL (+4%) and SKY (+4%)
- Oil +3% at $84.9; Gold -0.1% at $4,450
- Stock futures are red after bond yields hit multi-decade high; DOW even, Nasdaq -1%
- Ethereum Foundation researchers pushed privacy to the front of the 2027 Hegotá upgrade, prioritizing Frame Transactions and FOCIL so privacy pools can pay their own fees without intermediaries
- The SEC halted its crypto fundraising framework after Wall Street trade group SIFMA raised the prospect of legal action and the White House asked the agency to stand down
- The Treasury proposed GENIUS Act rules requiring stablecoin issuers to hold a federal or state license by January 18, 2027, and barring platforms from selling unapproved stablecoins to US customers by July 18, 2028.
- Kraken parent Payward joined Anthropic’s Project Glasswing, becoming the first crypto company with access to Claude Mythos 5 to scan its systems for vulnerabilities
- Monad Foundation closed a $60 million buyback program that offered to purchase locked MON from early investors at a discount, saying nearly all holders approached declined to participate
- South Korea’s media regulator ordered ISPs to block Polymarket, ruling that its winner-take-all markets on politics, sports, and weather amount to illegal gambling under the Criminal Act
- The Compound Foundation launched a $52M development program, the largest in its history, alongside a new leadership team to push institutional credit onchain
Corporate Treasuries & ETFs
Meme Coin Tracker
- Meme leaders were mostly flat; DOGE -1%, SHIB even, PEPE -1%, PENGU +1%, TRUMP even, BONK -2%
- Robinhood chain saw more big pullbacks across the board as Stonkbroker fell 30% and PONS -15%; Motion (+40%) and Bull (+20%) were top movers
- Solana leaders included EYE (+150x to $5M), Z500 (+30x) and Qenis (+65%); Ansem briefly wicked to $320M before retracing to $265M
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