Pop first of balloons using really sharp tack (5)

I believe the answer is:

burst

'pop' is the definition.
(thesaurus)

'first of balloons using really sharp tack' is the wordplay.
'first of' indicates taking the first letters.
The initial letters of 'balloons using really sharp tack' is 'BURST'.

(Other definitions for burst that I've seen before include "sudden break" , "Explode, erupt" , "Collapse" , "Rope to catch cattle" , "Explode (as 1 acrosses do)" .)

I've seen this clue in The Times.

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