Pump.fun Transfers Another Large Amount of SOL to Kraken

Pump.fun, an entity that has been under scrutiny for its transactions on Solana (SOL), recently made another large transfer to Kraken. On September 27, Pump.fun moved 47,994 SOL worth approximately $5.83 million to the exchange. This transfer adds to the entity's history of sending large amounts of SOL to exchanges.

Lookonchain estimates that Pump.fun has sold around 5.236 million SOL for a total of roughly $848 million. The average selling price per SOL is estimated to be around $162, according to Lookonchain. This estimate includes both the recent transfer and previous transactions.

The Pump.fun SOL transfers have been closely watched due to their large size and the fact that they often coincide with buybacks on the platform. However, it's essential to note that these deposits do not necessarily mean the tokens will be immediately sold or swapped on the exchange.