Pumpfun’s Continuous $SOL Deposits Push Total Revenue to $372 Million
The post Pumpfun’s Continuous $SOL Deposits Push Total Revenue to $372 Million appeared on BitcoinEthereumNews.com.
Crypto player Pumpfun deposited another 100,000 $SOL, valued at approximately $23.45 million, to the Kraken exchange. This marks yet another significant transaction in a series of similar deposits, reflecting Pumpfun’s ongoing influence in the Solana ecosystem. The latest deposit brings the total value of $SOL tokens Pumpfun has moved into Kraken to an impressive $372 million, further solidifying the company’s reputation in the crypto space. This latest deposit adds to the total amount of $SOL that Pumpfun has transacted over the past few days, as the company continues to leverage its holdings for revenue. With 1,599,597 $SOL now deposited into Kraken, Pumpfun’s activity is poised to continue shaping the market. A substantial portion of this activity involves selling $SOL on decentralized exchanges (DEXs) before moving the proceeds into Kraken, reflecting a strategic approach to liquidity management. The Scale of Pumpfun’s Deposits and Sales As of the most recent report, Pumpfun has sold a total of 1,363,242 $SOL tokens for an approximate value of $265 million. The continued success of these transactions is a testament to the organization’s strategy of maximizing value through both DEX sales and subsequent deposits to centralized exchanges like Kraken. Looking at data, this latest deposit, made just hours ago, follows several other similar transactions that have contributed to Pumpfun’s growing influence in the crypto space. A previous deposit made 24 hours ago saw Pumpfun transferring 100,000 $SOL worth around $22.47 million, pushing the total deposited amount to 998,869 $SOL ($200 million). Additionally, the organization sold 264,373 $SOL for around $41.64 million in USDC, a significant boost to its overall revenue. At this point, Pumpfun’s total revenue has climbed to $381 million, with 1,595,278 $SOL now deposited into Kraken. These transactions illustrate the considerable volume of trades and transfers that Pumpfun is facilitating, reinforcing its position as…
Filed under: News - @ December 6, 2024 4:26 am