Pump.fun Sells Another $12.5M in SOL as Solana Rally Continues

Pump.fun, a Solana-based token launchpad, has sold another $12.5 million in SOL tokens as the platform's cumulative sales reach over $820 million.

This latest sale is part of Pump.fun's routine treasury management strategy, which involves periodically selling SOL to manage its finances or convert earnings into stablecoins.

The average sale price of $164.8 per SOL indicates that Pump.fun has been selling into strength, capitalizing on Solana's price appreciation.

Solana's native token has been one of the best-performing major cryptocurrencies this year, driven by increased network activity and growing institutional interest.