Solana Faces Crucial Test as Pump.Fun Transfers Millions to Kraken and Market Awaits Price Action
The post Solana Faces Crucial Test as Pump.Fun Transfers Millions to Kraken and Market Awaits Price Action appeared on BitcoinEthereumNews.com.
In the past five weeks of 2025, a major player in the cryptocurrency world, Pump.Fun, has stirred things up by divesting a large quantity of Solana ($SOL) tokens and moving the proceeds to the Kraken exchange. The scale of the operation is hard to fathom, with some 1.021 million SOL, worth around $208.22 million, being offloaded since January. This hyperaggressive selling, coordinated with some not-so-covert market moves, has traders and investors on high alert, anticipating the next big dip or pump and keeping an especially close watch over Solana’s price action. pump. fun 在 5 小时前将 14 万枚 $SOL ($26.62M) 转进了 Kraken。说个鬼故事：他们仅在 2025 年以来这短短五周时间就已经累计出售了 102.1 万枚 SOL ($208.22M)，套现 $2.08 亿，这个数字是真不小。 pump. fun 从推出到现在总共获得了 272.4 万枚 SOL 的手续费收入。 这其中的 256.7 万枚 SOL… https://t.co/vgHEirYGeF pic.twitter.com/YCygtjDR2y — 余烬 (@EmberCN) February 7, 2025 To put the scale of Pump.Fun’s operations into perspective, since its launch, the platform has received a total of 2.724 million SOL in fees. Of that amount, an astounding 2.567 million SOL (valued at $508.98 million) has already been sold and transferred to Kraken. The average selling price for these transactions has been around $198 per token. This recent price action is mostly the work of the platform Pump.Fun, which has in general been a price driver up and down in the Solana ecosystem recently. The latest transaction it has done—140,000 SOL (around $26.62 million)—happened just five hours ago. A Critical Moment for Solana: Testing Key Support Levels Moving such a large number of SOL tokens to Kraken—not to mention the large-scale selling they did over the past month—has left many Solana holders looking toward the horizon with dread. The implication is that Solana’s overall value has seriously and maybe permanently diminished, and so the price can no longer be reliably expected to go up over any timeframe. Recently, Solana’s price…
Filed under: News - @ February 8, 2025 12:21 pm