Recent events in the cryptocurrency world are dominated by Pump.fun's dump of 4.1 million SOL, leading to price declines and increased regulatory risks.
Wave of Solana Sell-Off
According to Lookonchain data, Pump.fun offloaded 4.1 million SOL amounting to $741 million since May 2024. The current price of Solana stands at $153.62, down 2.0% in the last 24 hours. Massive sales, including 264,373 SOL exchanged for 41.64 million USDC, occurred through June 2025, with notable sales such as 491,018 SOL in November 2024.
Regulatory Issues with Pump.fun
Yesterday, Pump.fun initiated a billion-dollar fundraising at a $4 billion valuation, targeting growth in the Solana ecosystem. However, rumors about the founder's arrest on June 17, 2025, create concerns. The SEC has launched an investigation, posing unfavorable conditions for Pump.fun’s investment aspirations.
Market Resilience of Solana
Despite sell-offs and regulatory pressure, Solana's market capitalization stands at $92.69 billion. With a trading volume of $5 billion, Solana continues to fluctuate between $148.95 and $158.57. However, increased sales at resistance levels raise caution among traders and investors.
The situation surrounding Pump.fun and Solana's resistance highlights the instability within the cryptocurrency sector. Regulatory challenges and massive sell-offs could impact the future of these assets.
