Pump.fun Deposits Another $11M in SOL to Kraken

In Brief:

Pump.fun transferred 65,122 SOL (worth $11 million) to Kraken five hours ago.

The platform has now deposited 2.34 million SOL (~$473 million) and sold 264,373 SOL for $41.64 million USDC.

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According to Lookonchain monitoring, Pump.fun has made another large SOL deposit to Kraken, continuing its trend of substantial fund movements. This latest $11 million transfer adds to an ongoing pattern, as the platform has now deposited over $473 million worth of SOL and converted a portion into USDC.

This wave of transactions suggests a possible cash-out strategy, raising concerns over potential sell pressure on Solana’s price. Investors are closely watching the impact of these large movements on SOL’s market dynamics.

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