TLDR
- Nasdaq-listed Fitell Corporation purchased 216.8 million PUMP tokens for $1.5 million as part of its Solana treasury strategy
- The Australian company already holds $10 million in SOL tokens and plans to rebrand as Solana Australia Corporation
- PUMP price rose 36% this week to $0.0068, with market cap reaching $2.5 billion after a 90% monthly increase
- Technical indicators show bullish momentum with Chaikin Money Flow above zero and MACD nearing a positive crossover
- Trading volume declined 30% to $466.8 million while open interest on derivatives reached $190 million
Fitell Corporation, an Australian company listed on Nasdaq, has purchased 216.8 million PUMP tokens for $1.5 million. The purchase is part of the company’s growing focus on Solana-based digital assets.
🚨 JUST IN: @FitellCorp completes purchase of 216.8M $PUMP tokens worth $1.5M for its digital asset treasury pic.twitter.com/rgcGwj07n9
— Pump Fun News (@PumpfunNewsfeed) October 2, 2025
The move comes after Fitell initially allocated $10 million to acquire SOL tokens. With SOL currently trading around $203.27, the initial investment represents approximately 49,200 SOL tokens.
The new PUMP purchase adds to that existing Solana position. The company is not replacing its SOL holdings but expanding them.
PUMP is the native token of Pump.fun, a Solana-based memecoin launchpad. The platform recently surpassed Hyperliquid in daily revenues, showing strong growth in the Solana ecosystem.
Fitell funded its crypto purchases through a $100 million convertible debt facility. This facility first supported the SOL acquisition and now backs the PUMP token purchase.
The $1.5 million PUMP purchase is large relative to Fitell’s size. The company has a market cap of only $6.8 million.
Following the announcement, Fitell’s stock price dropped 8.31% to $5.52. Investors reacted to the company’s heavy allocation into crypto tokens.
Company Plans Rebrand and Yield Strategy
Fitell is transitioning from its original business as a fitness equipment retailer. The company now operates as a digital asset treasury.
The firm plans to deploy its SOL and PUMP tokens in structured yield products. This strategy represents a complete shift in business model.
Fitell is also planning to rebrand as Solana Australia Corporation. The new name reflects the company’s focus on Solana-based assets.
Other companies are following similar strategies. VisionSys recently launched a $2 billion Solana-based treasury, showing growing institutional interest in the ecosystem.
PUMP Price Shows Mixed Trading Signals
PUMP has gained 36% over the past week. The token is currently trading at $0.0068.
Over the past month, PUMP’s market cap increased over 90% to reach approximately $2.5 billion. The rally came as Bitcoin climbed near $119,500, lifting the broader crypto market.
The Chaikin Money Flow indicator is holding above zero. This means more money is flowing into PUMP than flowing out, showing investor demand.
The Moving Average Convergence Divergence indicator is nearing a bullish crossover. If the MACD line crosses above the signal line, it would confirm strengthening momentum.
PUMP is now testing resistance at $0.0077. Breaking through this level could open the path to the token’s all-time high of $0.0090.
If the price fails to break resistance, PUMP could decline toward support at $0.0062. A drop below this level would erase recent gains.
Trading volume declined nearly 30% to $466.8 million. The drop in volume shows reduced activity in futures markets.
However, open interest on derivatives reached $190 million. Rising open interest while volume falls suggests existing positions are being held rather than closed.
The long to short position ratio on Binance is 0.98. This shows an even split between traders betting on price increases and those betting on declines.
