Pump.fun, the meme coin launch platform, has successfully sold another batch of Solana (SOL) tokens earned through fees, coinciding with the token's price rise.
Pump.fun's Solana Sale
On November 18, blockchain data tracking platform Lookonchain reported that Pump.fun sold 105,000 Solana tokens. These tokens came from the platform's fee account, valued at over $25 million. The sale coincided with the altcoin's price surge from $135 to nearly $180.
Recent Solana Price Changes
Pump.fun's latest SOL sale occurred amid a price increase above $200. Over the past month, Solana's price has risen by more than 50%, reaching new year-to-date highs above $247.
Pump.fun's Financial Strategy
These sales from the fee account suggest a liquidity need for the team, as the wallet is used not only to collect transaction fees but also to cover the platform's operational costs.
Pump.fun's sale of another batch of SOL happens amidst Solana's strong market performance, indicating a strategic financial operation by the platform in response to increasing costs.
