The well-known launchpad Pump.fun is once again in the spotlight, having transferred 54,113 Solana (SOL) tokens to the Kraken exchange. What are the possible reasons and implications of these actions?
Transfer Details
According to data from Onchain Lens, Pump.fun transferred 54,113 SOL, equivalent to $7.81 million, to the Kraken exchange. This move is not the first this year, as the company has made other significant transfers in the past.
History of Major SOL Transfers
Earlier in 2025, Pump.fun sold more than 1.5 million SOL worth $293.26 million. Previously, 120,000 SOL were sold in January, and another 148,759 SOL last month. These actions raise questions about the selling pressure on Solana.
Possible Reasons for Transfers
Some believe that Pump.fun might have other motives for its constant transactions in these coins. The company also introduced a decentralized exchange, PumpSwap, to increase liquidity and reduce dependence on centralized platforms such as Kraken. Recently, SOL slightly declined after the February transaction but then began to recover.
The market value of Solana remains more or less stable, despite major transfers by Pump.fun. Analysts are still divided on the long-term valuation of SOL, with some expecting it to reach $520.
