Pump.fun’s token, PUMP, gained traction recently after the platform introduced Pump Bridge as the default route for cross-chain trades, replacing Relay in its app.
According to the reported figures, making Pump Bridge the default cross-chain route could reduce friction for users trading through Pump.fun. Pump.fun claims that its bridge delivers buys 2x faster, 92% fewer buy errors and better fills than Relay, based on a randomized test within its app.
What’s more intriguing, however, is that on-chain metrics are already reacting to the announcements by showing signs of greater participation. In fact, the network’s number of active addresses and the number of PUMP holders have both risen lately.
So, can these improvements help sustain the token’s price action?
Active addresses and holder numbers on the rise
According to the recent analysis, the number of active addresses across the network have spiked to new monthly levels over the last few days.
In the last 24 hours alone, the number of active addresses spiked to 89K, hinting at more wallets interacting with the network.
Besides, the number of holders across the network spiked to 462K too, pointing to a broader distribution of PUMP ownership.
Together, these metrics alluded to rising participation around the altcoin. If activity continues to expand after the initial reaction to the bridge announcement, it could help support market interest.
Can PUMP extend its current gains?
Pump Bridge gives Pump.fun a potential catalyst by improving the experience of cross-chain trading. Both the rising number of active addresses and holders could reinforce the positive response if they persist.
However, traders and investors should check whether the recent price gains are accompanied by sustained demand, rather than fading enthusiasm around the announcement.
Final Summary
- Pump.fun replaced Relay with Pump Bridge as its default cross-chain route.
- Ntwork’s rising number of active addresses and holder numbers hinted at greater participation around PUMP.