Pump.fun Deposits $10.94M in SOL to Kraken Amid Market Decline
Pump.fun transfers 65,122 SOL ($10.94M) to Kraken as SOL prices drop 14% in a week. FTX unlocks 11.2M SOL on March 1.
- Pump.fun deposited 65,122 SOL ($10.94M) to Kraken.
- Since 2025, it has transferred 1.235M SOL ($247M).
- FTX to unlock 11.2M SOL ($1.9B) on March 1.
Pump.fun’s Continuous Large Transfers
Pump fun, a well-known crypto trading platform, has once again made a significant deposit to Kraken. Around five hours ago, its fee account transferred 65,122 SOL, valued at $10.94 million. This adds to a series of large transfers in recent months.
Since the beginning of 2025, Pump.fun has moved a total of 1.235 million SOL (worth $247 million) to Kraken. The average selling price for these transactions stands at $200.1 per SOL. This indicates that Pump.fun has been systematically cashing out its earnings amid ongoing market volatility.
Massive Earnings and Market Trends
Pump fun has earned a total of 2.93 million SOL (approximately $495 million) in fees since its launch. These earnings highlight the platform’s significant role in the Solana ecosystem, as well as the substantial trading activity happening within its network.
However, SOL’s price has dropped 14% over the past week, reflecting a bearish sentiment in the market. Investors are closely monitoring major token movements, especially as large sell-offs can impact liquidity and price stability.
The #Pumpfun’s fee account deposited 65,122 $SOL ($10.94M) to #Kraken ~5 hours ago.
— Spot On Chain (@spotonchain) February 20, 2025
Since the start of 2025, Pump fun has deposited 1.235M $SOL ($247M) to Kraken at an average price of $200.1.
Their total fees earned since launch stand at 2.93M $SOL (~$495M).
Notably, FTX… pic.twitter.com/Z2tdsGv1LN
FTX Bankruptcy Estate to Unlock 11.2M SOL
A major event on the horizon is the upcoming FTX bankruptcy estate unlock, set for March 1. This unlock will release 11.2 million SOL, worth approximately $1.9 billion, into the market. Such a large release could further impact SOL’s price, as investors anticipate potential selling pressure from creditors receiving their tokens.
With the combination of Pump.fun’s consistent deposits and the FTX unlock event, the market will be watching closely to see how SOL’s price reacts in the coming weeks.
