Pump fun Moves $18M in SOL to Kraken Amid Sell-Off
Pump fun deposits another 117,913 SOL to Kraken, bringing total transfers to over $575M as selling activity continues.
- Pump.fun deposits $18.26M in SOL to Kraken
- Total transfers reach over $575M worth of SOL
- Recent SOL sale executed at a lower $158 price
Pump fun Transfers More SOL to Kraken
Pump.fun, a rising name in the Solana ecosystem, has again made headlines by moving a large amount of SOL to the crypto exchange Kraken. Within the last two hours, the project deposited 117,913 SOL—worth approximately $18.26 million—adding to a growing pattern of massive transfers.
In total, Pump.fun has now transferred over 3,097,265 SOL, valued at $575 million, to Kraken. These moves have raised eyebrows across the crypto community, as such high-volume transfers often precede major selling activity or strategic rebalancing.
Sell Pressure Increases as Price Dips
On-chain data also shows that Pump.fun recently sold 264,373 SOL at an average price of $158, netting around $41.64 million in USDC. That price is notably lower than earlier transfer levels around $186, suggesting a possible shift in sentiment or a need for liquidity.
These sizable transfers and sales may contribute to downward price pressure on SOL, especially if other holders follow suit. Traders are closely watching these wallets and Kraken inflows to anticipate market reactions.
What Does This Mean for SOL Investors?
While large movements by major holders aren’t unusual, consistent deposits followed by significant sales often create uncertainty in the market. For now, the community is split—some view the activity as strategic treasury management, while others fear it could signal an intent to offload more holdings.
SOL investors should monitor these developments and Kraken’s order books closely. Volatility could rise if further selling occurs or if the sentiment around Pump fun’s activities shifts more negatively.
