Pump.fun has completed its first acquisition by purchasing Kolscan, a platform that tracks on-chain wallets.
Kolscan monitors blockchain transactions made by high-profile traders and displays their performance using real-time data and rankings.
Following the acquisition on July 10, Pump.fun announced that Kolscan would be free to use and would soon receive several improvements.
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Pump.fun stated that the two platforms will collaborate to offer new features and a distinct trading experience for users. The company hopes this combination will help it stand out in the on-chain trading industry.
Alon Cohen, one of Pump.fun’s co-founders, said on X that the acquisition reflects his belief that “on-chain trading is a social sport”.
Cohen said the team plans to improve the platform’s speed and accuracy and to adjust the leaderboard so it rewards actual profitable trading rather than just popularity.
He also mentioned plans to add data on copy trading and other insights to help users understand different trading strategies.
Cohen explained that the goal is to create a place where social activity, competition, and trading come together in one space. According to him, Kolscan will play an important part in that plan, and he noted that the platform could eventually support billions of users.
Recently, OpenSea, the non-fungible token (NFT) marketplace, announced the purchase of Rally, a company known for its mobile tools for Web3 users. What is the goal of the acquisition? Read the full story.
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