The meme token platform Pump.fun has made another strategic SOL transfer of a total of 95,934 SOL worth $13.33 million to the Kraken crypto exchange, according to blockchain analytics platform Lookonchain.
Nearly $557M in SOL Moved to Kraken
Recent transactions by Pump.fun join an increasing series of noticeable moves within the market. The platform Pump.fun continues its aggressive selling strategy through large-scale transfers of $556.87 million worth of SOL, totaling 2,979,352 SOL to Kraken. Data shows that SOL was deposited on Kraken during intervals where its price averaged at $187 per token. The platform showed a combination of trading activity because it sold 264,373 SOL tokens for $41.64 million USDC while maintaining an average trading price of $158 across the market volatility period.
Solana’s public ledger displays an orderly sequence of funds moving between different Pump.fun protocol fee accounts and the main wallet that ultimately leads to transfers directly to Kraken. Most of the recent SOL transfers spanned from 5,000 up to over 8,000 SOL and resulted in financial values between $738K and over $1.1 million based on current SOL pricing. Available data reveals systematic shifting between deposits into the wallet and withdrawals from it which likely helps maximize liquid funds for timing trades efficiently.
On-Chain Activity Raises Market Concerns
During this period of intense market volatility, Solana (SOL) experiences substantial price fluctuations because institutions show increasing interest in its trading markets. Pump.fun uses the liquidity for rapid token launch activities, together with its fee-driven revenue, to enhance and profit from its SOL token portfolio.
Observers track SOL price movements to determine the effect of reported large-scale selling activities identified through on-chain analytics tracking.
