Pump.fun Buys Kolscan to Track Top Onchain Traders

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Pump.fun buys Kolscan to track top traders, expand social trading tools. Kolscan stays free, promises faster updates, better data for all users. Cohen calls onchain trading social sport, plans new community trading features. Pump.fun, a popular memecoin creation platform, has made its first acquisition. It bought Kolscan, a wallet-tracking tool that monitors top on-chain traders. The deal was announced on Thursday. This is a new phase of Pump.fun as it seeks to expand in a rapidly evolving crypto market. Pump.fun Keeps Kolscan Free, Promises Faster Trade Updates Kolscan stands for “key opinion leader scan.” It follows the actions of the best traders in the blockchain. Real-time transactions, profits, and even leaderboards can be visualized by users. This provides people with tips on who traders are on the winning side and how they do it. As Pump.fun says, it is already planned to interconnect the data of Kolscan with its platform. This implies that users will soon look forward to new features. They will have access to superior tools to follow the leading trader, copy trade, and identify the best traders. According to Pump.fun, this will form “completely new experiences” in onchain trading. Co-founder Alon Cohen shared more details on X, formerly Twitter. He added Kolscan will remain free to all. It is good news for the existing Kolscan users. Cohen also ensured to provide quicker trade updates, improved accuracy of data, and new tools on social trading. For Cohen, on-chain trading is not just about making money alone. He terms it a social sport. Individuals engage in trade with their friends, share their outcomes, and acquire knowledge from one another. Further, he thinks that this social aspect is what makes traders busy. Pump.fun aims at continuing to increase its users by incorporating additional social tools. Pump.fun used to dominate the…