PumpFun's SOL Transfers & Solana's Price
Memecoin launchpad PumpFun has transferred a significant amount of Solana (SOL) to Kraken, totaling 54,113 SOL (approximately $7.81 million) according to Onchain Lens data. This continues a pattern of large-scale transfers, amounting to 1,573,313 SOL ($293.26 million) this year alone.
PumpFun's Continued SOL Transfers
This latest transaction follows a 120,000 SOL transfer in January and a 148,759 SOL transfer last month. These frequent transactions raise questions about potential selling pressure on Solana. While some speculate on PumpFun's motives, the large volume of transfers remains a significant concern.
2 hours ago, PumpFun (@pumpdotfun) deposited 54,113 $SOL valued at $7.81M, into #Kraken.
In 2025, they sent a total of 1,573,313 $SOL worth $293.26M.
Overall, they have earned 3,232,101 $SOL currently valued at $469.1M. pic.twitter.com/YMhtxRKF4Z
— Onchain Lens (@OnchainLens) March 25, 2025
PumpFun's PumpSwap and Ecosystem Impact
In an effort to improve its reputation, PumpFun launched PumpSwap, a decentralized exchange (DEX) aiming to provide a more efficient trading environment for meme coins. This move is intended to reduce reliance on centralized exchanges and boost Solana ecosystem liquidity. However, whether PumpSwap will fully alleviate concerns surrounding PumpFun's large SOL transfers remains to be seen.
Solana Price Outlook
Despite the significant SOL transfers, Solana's price has shown relative stability. While previous large transfers caused short-term dips, the price has often recovered. Analysts hold differing views on Solana's future price, with some projecting significant gains while others caution about the impact of these large-scale transfers. At the time of writing, SOL is trading at $143.99.
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