According to CoinMeta and a report by 10xResearch, the Pump token has risen by approximately 93% in the past 30 days, with a current price of $4.09. It reached a historical high of $5.23 on August 23, and its price is now falling from that peak. The New York Federal Court dismissed the class action lawsuit against Solana, but narrowed the scope of the class action lawsuit against the Pump Fun operator, allowing claims related to Rico and fund transfers to continue, while maintaining attention to regulatory and legal risks. The token’s revenue-driven burn mechanism uses half of the protocol’s income to repurchase and burn Pump, although this has not been enough to offset the broader selling pressure. Bitcoin’s dominant position remains stable, with trading volume dropping below $100 billion. The inflow of stablecoins indicates capital rotation rather than new capital. This situation is sufficient for us to reconsider our risk exposure, although our model portfolio has risen by 33% since April. We are taking profits on some of the best-performing assets and shifting to new ideas related to emerging themes.