The post Pump Fun Sells 43,000 SOL As Solana Price Touches $220 appeared on BitcoinEthereumNews.com.

Meme coin launchpad Pump Fun has offloaded more of its SOL holdings following the recent Solana price rally to $220. This comes amid predictions that Solana could soon reach its current all-time high (ATH) and possibly surpass it soon enough. Pump Fun Sells 43,000 SOL As Solana Price Surges In an X post, the on-chain analytics platform Lookonchain revealed that Pump Fun has sold 43,000 SOL ($9.46 million. The meme coin launchpad has sold 793,243 SOL ($132.5 million) out of its total revenue of almost 1.2 million SOL ($263 million). Solscan data shows that the Pump Fun fee account still holds 220,865 SOL ($48.4 million). This development came as the Solana price hit $220, which marked a yearly high for the crypto. SOL’s outlook is currently bullish, with the Bitcoin price rallying and bullish sentiment in the broader crypto market. The Solana price is also bullish, given the liquidity flowing into the SOL ecosystem. Debridge data showed that over $160 million has been bridged into the Solana ecosystem in the last seven days. The meme coin frenzy on the Solana network has partly contributed to these inflows as market participants look to trade meme coins on the network. This frenzy was over the roof today, as Solana meme coins ACT and PNUT rallied 1,300% and 250%, respectively, following Binance’s spot listing. Thanks to this meme coin frenzy, Solana topped Ethereum in weekly decentralized exchange (DEX) volume for the sixth consecutive week. DeFiLlama data shows that Solana recorded a trading volume of $17.484 billion in the last seven days, while Ethereum’s DEX volume was $14.97 billion during this period. SOL To Reach All-Time High Soon In an X post, Crypto analyst Altcoin Sherpa said that the Solana price will soon reach its current ATH of $260. He made this prediction while remarking that market…

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Filed under: News - @ November 12, 2024 4:24 am