Following Pump Fun's sale of 40,000 SOL, Solana’s price dropped by 1.56%, raising market concerns.

Pump Fun's Sales and Their Effects

Pump Fun, a meme coin launch platform on Solana, conducted significant SOL sales recently. The latest sale of 40,000 SOL continues this selling trend, which may exert pressure on the Solana market. To date, Pump Fun sold over 500,000 SOL, raising concerns about short-term price impact.

New Developments: Pump Advanced

Pump Fun announced its new trading terminal, Pump Advanced, during a Twitter Spaces event. This tool aims to compete with platforms like Photon and Bull X, offering commission-free trading for the first month. Co-founder Sapijiju indicated future plans for a token launch, promising a more generous airdrop compared to competitors.

Increase in Solana Supply and Unlockings

This week, Solana will unlock 524,030 SOL tokens. Following the release of $81 million worth of SOL at the start of October, this marks the second major supply increase. During this period, SOL price experienced a 6% decline but quickly recovered. The market is watching how the new supply will affect the price, with short-term pressure expected but likely recovery in the coming weeks due to demand.

Pump Fun's sale led to a 1.56% decline in Solana's price. Short-term pressure is expected, but long-term prospects for Solana remain positive.