Quarterly Altcoin Spotlight: PUMP Trades at 1.4x Sales as Critics Miss the Cash Flow

A Solana-based launchpad is producing $1m a day in revenue during a bear market, owns 85% of its segment, has paid creators $350m over the trailing twelve months, has already burned 36% of its circulating supply through buybacks, and trades at 1.4x sales with a 33% trailing buyback yield. The consensus view dismisses it because it caters to memecoins. Here is what the numbers actually say, in plain English: