Zhu Su: SOL price and demand were further pushed up by the TGE of pump.fun

Planet Daily News: Three Arrows Capital founder Zhu Su posted on X platform, stating that "pump.fun's TGE drove SOL price increase" for the following reasons: 1. pump.fun itself does not hold a large amount of SOL, thus will not cause price pressure through selling; 2. Believing pump.fun will sell SOL is a wrong thinking framework, as users typically buy SOL in dollars, participate in pump.fun trading and pay SOL fees, and the platform subsequently exchanges SOL back to dollars, which is just a regular consumer business process; 3. pump.fun's revenue generation in the Solana ecosystem has attracted more market attention, potentially driving a re-evaluation of SOL as an investment-grade consumption protocol; 4. Solana ecosystem investors participating in pump.fun's initial token offering tend to reinvest their profits back into SOL after gaining returns.