Pumpfun deposited 148,759 SOL ($28.22M) to Kraken again, earning a cumulative total of $540.5M
The post Pumpfun deposited 148,759 SOL ($28.22M) to Kraken again, earning a cumulative total of $540.5M appeared on BitcoinEthereumNews.com.
According to Lookonchain data, Pumpfun deposited an additional 148,759 Solana to Kraken today. The new deposit brought the total tokens deposited to the centralized exchange to 2,280,377, worth $462 million. Lookonchain, an on-chain analytics platform, reported that Pumpfun deposited more Solana tokens to the centralized exchange Kraken. The analytics platform revealed that the Solana-based meme-coin deposited SOL worth $28.22 million, bringing the total deposits to 2,280,377. Pumpfun deposits 148,279 SOL to Kraken again Lookonchain revealed that Pumpfun had sold 264,373 Solana for over $41 million, accumulating 2,727,677 Solana. On February 7, Pumpfun made a similar transaction by depositing 140,285 SOL worth $26.61 million to the centralized exchange. Pumpfun(@pumpdotfun) deposited 148,759 $SOL($28.22M) to #Kraken again 30 mins ago. So far, #Pumpfun has deposited 2,280,377 $SOL($462M) to #Kraken and sold 264,373 $SOL for 41.64M $USDC.#Pumpfun has earned a total of 2,844,614 $SOL($540.5M).https://t.co/nV7J1QTdGv pic.twitter.com/oD5Lbv6xld — Lookonchain (@lookonchain) February 13, 2025 According to Lookonchain data, this followed a series of deposits where Pumpfun previously transferred 2,131,617 SOL worth over $400 million to Kraken. After the deposit on Feb 7, the $ SOL/$ USDT trading pair on Kraken recorded a slight decline of 1.2%, dropping from $190.05 to $187.83 in 15 minutes. The decline suggested the market might have reacted to potential increased selling pressure triggered by Pumpfun’s holdings. The currency pair’s trading volume also increased by 35%, amounting to $1.2 million Solana traded within the same time. According to Coinmarketcap, other Solana-related tokens such as Serum($SRM) or Raydium ($RAY) also recorded increased trading volumes shortly after the deposits. Arkham data also revealed that on January 2, the launchpad transferred 120,000 SOL worth approximately $22.88 million to Kraken. Shortly after the transfer, Solana experienced a 2.94% drop in 24 hours. Lookonchain data suggested the possibility of a sell-off in November; however, Pump Fun responded to…
Filed under: News - @ February 13, 2025 8:26 pm