Pump.fun investors created the "PVP New Trench", which increased 200 times in 6 hours.

Trenches successfully launched after 9 days of silence, with a market capitalization exceeding 7 million dollars within 2 hours, reaching a peak of 10 million dollars.

Written by: BUBBLE, Zhouzhou

In the early hours of this morning, a token named "Trenches" entered the market's field of vision, and after 9 days of silence in Pumpfun, it was successfully "launched" today, and exceeded the market value of $7 million in 2 hours, and then broke through the market value of $10 million all the way, and is now quoted at $7.5 million. "Trenches" is not a new concept in the Solana community, and as the term "Native" has become more popular among Degen, so has the culture that "trenches" represents. So what's different about this "new trench"?

What is the live broadcast trench?

Trenches is a brand new live streaming platform project that delves into and reviews the top products in the crypto industry through pump streaming. The first livestream will air at 4 p.m. ET, corresponding to 4 a.m. EDT on May 29. The livestream featured a number of heavyweight guests, including @jnwng, Drift co-founders @cindyleowtt and @NaytheForceBwU, among others. Trenches was developed by Crypto Carl (@CarlKVogel), whose livestreaming platform, 6MV, raised $140 million.

All-Star endorsement lineup, is Dev actually an investor in Pumpfun?

Carl, the founder of Trenches, is a dual master's degree holder from Harvard Business School and MIT, and he previously worked as a product manager at Google. Now, as a partner at 6th Man Ventures (6MV), he has invested in projects such as io.net, Magic Eden, and Gelato Network.

According to Twitter user @timotimo007, Carl is considered one of the "biggest investors" in Pumpfun. Although there is no solid evidence, 6MV has been frequently retweeting content from Pumpfun recently.

Carl himself recently revealed on Twitter that he is launching a live streaming experiment for Trenches. He said he hopes to promote a product that allows users to "learn while playing" through live streaming, while also helping more people understand the underlying technological logic. Additionally, since Pumpfun had previously suspended its live streaming feature due to compliance issues, Trenches suddenly launching live streaming is seen by many as a warm-up for Pump's "comeback".

According to @Adel_Lynn_'s analysis on Twitter, Trenches had a suspected Carl's address quietly bought at a price of $163 on May 19 (9 days before the launch), and has now made a profit of $300,000.

On-chain data further indicates that Trenches has "banker attributes" and has undergone multiple reversal washes, with a current market capitalization fluctuating around $7.5 million. Adel is bullish on Trenches, even saying that its market capitalization "could exceed $15 million", first because of the project's narrative potential, combined with the dual blessings of Pump live streaming and the inner circle platform, and the potential for the live event to bring new attention and buying, especially after the live stream at 4 p.m. ET. However, Adel also reminded Carl that he had publicly stated that Trenches was an "experiment" and advised investors to be patient and wait for the pullback.

Overall, Trenches is more likely to be an important attempt at the Pumpfun live streaming ecosystem. With Carl Vogel's industry background, 6MV's financial support, and the innovation in live streaming narrative, Trenches has shown great potential in the short term.

However, the experimental nature of the project also brings uncertainty. If you are optimistic about the future development of Pump live broadcasts and the platform effect of core figures in the community, you can pay attention to the market performance after the live broadcast. But can Trenches become the "new trench" and promote the further development of the Pump live broadcast ecosystem? Let us wait and see.