Pump.fun acquires trading execution platform Vyper on Thursday, expanding again after acquiring Padre in October 2025. Vyper will be integrated into Terminal and cease service; this acquisition focuses on support for EVM and Base chain. On February 2, Pump.fun issued nearly 30,000 tokens, far exceeding the October daily average of 9,000-13,000.
Pump.fun Expands from Solana to Multi-Chain Ecosystem
Solana memecoin issuance platform Pump.fun has acquired the trading execution platform Vyper, marking its latest strategic expansion. In a post on X Thursday, Vyper stated that Pump.fun has officially acquired Vyper, and added that Vyper’s team and technology will now join Pump.fun’s broader product suite.
The team said: “Vyper’s infrastructure will soon migrate to Terminal. As part of this migration, Vyper will soon cease service.” This fully integrated strategy indicates that Pump.fun is not merely acquiring but intends to thoroughly absorb Vyper’s technology and talent, integrating them into its own product ecosystem.
Acquiring Vyper is another step in Pump.fun’s previous foray into trading infrastructure. In October 2025, Pump.fun acquired Padre and rebranded it as Terminal—a multi-chain trading platform focused on meme coins and high-speed trading. This consecutive acquisition strategy shows Pump.fun is shifting from a single token issuance platform to a comprehensive crypto trading infrastructure provider.
“EVM support is a core focus of Terminal. With Vyper’s infrastructure and talent, we expect trading on EVM chains (including Base) to improve significantly,” the Terminal team said on X Thursday. This statement reveals the core motivation behind the acquisition: Pump.fun currently mainly serves the Solana ecosystem, but to achieve true market dominance, it must expand to EVM-compatible chains.
Base chain is mentioned specifically, not by chance. As Coinbase’s Layer-2, Base experienced explosive growth in 2025, becoming the second-largest EVM ecosystem after Ethereum mainnet. Meme coin culture on Base is also highly active, with several projects valued at hundreds of millions of dollars. If Pump.fun can replicate its success on Solana on Base, it will significantly expand its market share.
From a product perspective, Vyper’s trading execution capabilities are urgently needed by Pump.fun. Pump.fun excels at token issuance and community operations but has shortcomings in trading experience, especially cross-chain trading. Vyper, as a professional trading execution terminal, possesses mature order routing, liquidity aggregation, and slippage optimization technologies. Integrating these capabilities will provide Pump.fun users with a smoother trading experience.
Co-founder Says Active Team Expansion in Bear Market
Pump.fun co-founder Alon Cohen describes the acquisition of Vyper as part of a broader expansion strategy, even amid challenging market conditions. “Despite the tough market environment, we are still rapidly and actively expanding our team,” Cohen wrote on X. This “bear market expansion” strategy is rare, as most crypto companies tend to lay off staff or scale back during downturns.
Cohen said that the addition of Vyper’s team members, especially those with on-chain trading experience, will enhance Pump.fun’s ability to build “ultra-fast, efficient cross-chain trading infrastructure.” He added that continuing to invest in its core platform, mobile app, and terminal will be crucial.
This proactive expansion during a bear market reflects a strong belief in long-term trends. Cohen and the Pump.fun team clearly see the current market downturn as temporary, and believe building technological advantages and market position takes time. By acquiring quality assets and talent during the bear market, Pump.fun aims to be in a better position for the next bull run.
From a financial perspective, a bear market is also an ideal time for acquisitions. Asset valuations are generally lower, sellers are more willing to accept reasonable offers, and bargaining power favors buyers. Pump.fun accumulated substantial revenue during the meme coin frenzy of 2024, and these funds are now being used for strategic acquisitions. This “profit in bull markets, expand in bear markets” cycle is typical of successful companies.
Pump.fun and Vyper have not disclosed financial details of this deal. The Block has contacted both teams for more information but has not received a response as of press time. Considering Vyper’s technical accumulation and user base as a trading terminal, the deal could be valued in the hundreds of thousands to tens of millions of dollars range.
Platform Activity Surges, Daily Token Issuance Rebounds 3x
Pump.fun continues to improve its services, including incentive mechanisms. Earlier this month, the company overhauled its creator fee model, introducing a broader revenue-sharing system that allows teams to allocate fees across up to 10 wallets, transfer token ownership, and revoke update rights. This flexible fee distribution enables fairer incentives for contributors and makes project launches easier.
More surprisingly, the platform has seen a surge in activity. According to The Block’s data, on February 2, nearly 30,000 tokens were issued on Pump.fun, compared to a daily average of 9,000-13,000 tokens in early October 2025. This jump from 9,000-13,000 to 30,000 tokens represents a 2-3x rebound in activity.
This surge in activity amid a bear market is particularly rare. Usually, when mainstream crypto prices fall, high-risk assets like meme coins see sharp declines in issuance and trading volume. But Pump.fun’s data shows the opposite trend, possibly driven by several factors: creator fee reforms attracting more projects, the launch of Terminal improving trading experience, and some investors turning to meme coins for “high risk, high reward” opportunities after losses in mainstream tokens.
From another angle, the increase in token issuance may also reflect shifting market speculation sentiment. During a bull market, investors tend to hold mainstream tokens awaiting gains; in a bear market, some aggressive investors turn to meme coins for gambling-style trades, hoping to profit from early projects. While risky, this behavior has indeed brought traffic and revenue to Pump.fun.
Pump.fun Activity Data
- February 2, 2026: issued nearly 30,000 tokens
- Early October 2025: daily average 9,000-13,000 tokens
- Increase: approximately 2-3 times
Recent product updates: creator fee overhaul, launch of Terminal
Strategic expansion: acquisition of Padre (Terminal), acquisition of Vyper
From a product evolution perspective, Pump.fun is shifting from a “token issuance tool” to a “one-stop meme coin trading platform.” Initially, users issued tokens on Pump.fun and then transferred them to other DEXs for trading. Now, with the integration of Terminal and Vyper, users can complete the entire process—from issuance to trading—within the Pump.fun ecosystem. This vertical integration will greatly enhance user stickiness and platform revenue.
Cross-Chain Trading Terminals Become New Competitive Arena
The acquisition of Vyper marks Pump.fun’s entry into the highly competitive cross-chain trading terminal space. Currently, established platforms like Jupiter, 1inch, and Matcha dominate the market. To stand out, Pump.fun must offer differentiated value, leveraging its deep integration with meme coin issuance and focus on high-speed trading and MEV protection.
Adding EVM support will enable Pump.fun to serve users on Ethereum, Base, Arbitrum, Optimism, and other large EVM ecosystems. Meme coin culture on these chains is also vibrant, with several projects valued at hundreds of millions of dollars. If Pump.fun can successfully transplant its Solana success model onto these chains, its market space could expand multiple times.
In terms of competitive landscape, Pump.fun’s biggest threat comes from imitators. Due to its relatively simple business model and lucrative revenue, multiple platforms are attempting to copy it. Through ongoing acquisitions and technological upgrades, Pump.fun is building a technological moat that makes it difficult for later entrants to catch up. Vyper’s trading execution technology is a key part of this moat.
Looking ahead, Pump.fun may continue acquiring to fill product gaps. Potential targets include social tools (to help projects manage communities), data analytics platforms (for token performance tracking), and security auditing services (to reduce Rug Pull risks). This platform approach will evolve Pump.fun from a single tool into a comprehensive meme coin ecosystem.
