Pumpfun Moves Over 2.7M SOL to Kraken

• Pumpfun moved 104,120 SOL to Kraken today
• Total SOL transferred to Kraken now exceeds 2.73 million
• The move raises concerns over potential sell pressure

Another Major SOL Transfer Hits Kraken

On-chain data from Lookonchain revealed that Pumpfun, a platform known for its viral meme coin launches, transferred 104,120 SOL to the Kraken exchange today. This move adds to the growing total of 2,733,776 SOL sent to Kraken by the project, raising eyebrows among investors and analysts.

Such large transfers often hint at upcoming sell-offs, especially when they involve centralized exchanges. With today’s transfer valued at tens of millions of dollars, the market is speculating on what this could mean for the short-term price action of Solana (SOL).

Market Reacts to Growing Concerns

This isn’t the first time Pumpfun has offloaded SOL to exchanges, but the scale and frequency of these transfers have caught the attention of the wider crypto community. Some believe these could be preparations for covering operational costs or liquidity moves, while others fear it signals a dump that might hurt SOL’s price.

Kraken, being a liquid and trusted exchange, is a common destination for institutional-level trading, which adds to the speculation that these tokens might be sold in chunks rather than held.

What This Means for SOL Holders

While SOL has remained relatively stable in the short term, a sharp sell-off of millions of tokens could create downward pressure. Traders and long-term holders are advised to keep an eye on on-chain movement and exchange inflows to stay ahead of potential price swings.

For now, it remains unclear whether Pumpfun plans to continue these large transfers or if this marks the end of a scheduled liquidation. Either way, it’s a development worth watching closely.