Pump.fun Has Sold $887.6 Million in SOL as Platform Continues Sending Tokens to Kraken
Pump.fun has sold approximately 5.62 million Solana (SOL) tokens worth $887.6 million, according to onchain data, as the memecoin launchpad continues transferring accumulated revenue to cryptocurrency exchanges despite a sharp decline in SOL's market price.
The latest transaction involved a deposit of 64,666 SOL, valued at approximately $5.19 million, to Kraken. Onchain trackers identified the transfer roughly seven hours before it was reported, adding to a series of transactions through which Pump.fun has converted its platform earnings into revenue.
Data from Arkham's Pump.fun entity page shows that the platform has sold 5,618,499 SOL at an average price of $158 per token. Onchain analyst EmberCN provided a higher estimate, reporting that Pump.fun had sold approximately 5.69 million SOL worth around $898 million since early 2024.
Pump.fun's SOL Sales Exceed $887 Million
Pump.fun generates revenue through fees collected whenever users launch and trade memecoins on its platform. These fees are accumulated in SOL and periodically transferred to cryptocurrency exchanges as part of the platform's revenue conversion process.
The timing of previous transactions has become particularly notable following Solana's recent decline. SOL traded near $75.76 early Saturday after reaching an intraday low of approximately $74.85.
The cryptocurrency has fallen around 16% over seven days and 26% over 30 days. Compared with its all-time high of $293.31 recorded in January 2025, SOL is down approximately 74%.
At a price of roughly $75.76, the 5.62 million SOL previously sold by Pump.fun would be worth approximately $426 million. Its reported average selling price of $158 therefore means the platform converted those holdings at more than twice their current estimated value.
Solana Faces Pressure Despite Institutional Developments
Solana has seen several notable developments in recent weeks, including a report from Bitcoin.com News that the Depository Trust & Clearing Corporation (DTCC) plans to bring tokenized securities to the blockchain.
However, the network has also faced regulatory-related scrutiny. China's central bank reportedly opened an investigation into Solana over illegal cryptocurrency services.
Neither development has reversed SOL's recent downward movement, with the token continuing to trade under pressure alongside the wider cryptocurrency market.
1.458 Billion PUMP Tokens Transferred to Coinbase Prime
Pressure is also emerging around Pump.fun's native token, PUMP. According to EmberCN, three wallets associated with the project's team or early investors transferred 1.458 billion newly unlocked PUMP tokens, worth approximately $5.01 million, to Coinbase Prime.
Coinbase Prime is Coinbase's institutional trading platform. The three wallets collectively hold an allocation of 70 billion PUMP tokens, which began unlocking in July.
The latest transfer follows a similar transaction on October 13, when the same wallets moved another 1.458 billion PUMP tokens to Coinbase Prime. That allocation was worth approximately $7.58 million at the time.
The difference in reported value between the two monthly transfers highlights the token's declining market price. PUMP was trading near $0.0034 at the time of the report, approximately 61% below its September 2025 peak.
Transfers of unlocked tokens to exchanges and prime-broker platforms are commonly monitored as potential preparations for selling. However, such movements do not independently confirm that the tokens have been sold.
Crypto Market Liquidations Add to Selling Pressure
Pump.fun's latest transfers come amid a difficult period for the broader cryptocurrency market. More than $330 million in liquidations occurred within less than two hours, while Bitcoin dropped below $67,000 and Solana fell below $75.
Memecoin trading activity, which represents a major source of Pump.fun's platform fees, has also cooled alongside the broader market downturn.
Market participants will be watching whether buyers can absorb the available token supply and whether SOL can maintain support around the $75 level. Pump.fun has continued converting SOL holdings during both market rallies and declines, leaving its future selling activity and the market's ability to absorb that supply as important factors to monitor.
source: news.bitcoin
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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